Category: Sunday Standard

Foreign travellers, investors and business people heading to Botswana will now dig deeper into their pockets after government introduced sweeping new visa charges in what is likely to spark debate over the country’s openness to tourism and investment.

In regulations signed recently, Minister of Labour and Home Affairs, Pius Mokgware has unveiled a new visa fee structure that dramatically increases the cost of entering Botswana for work, business, study and tourism.

The new Immigration (Visa) (Amendment) Regulations, 2026 replace Schedule 3 of the Immigration (Visa) Regulations and introduce charges ranging from P300 to as high as P3,000 depending on the category and duration of the visa.

Business travellers appear to have taken the hardest hit.

Under the new structure, a single-entry Business Visa valid for up to three months will now cost P1,000, while a multiple-entry business visa for up to one year will cost P2,000. Investors seeking long-term access to Botswana will also pay heavily, with a multiple-entry Investment Visa valid for up to five years now pegged at P3,000.

Tourists, long regarded as a critical pillar of Botswana’s economy, are also not spared. A single-entry Tourist Visa for up to one month will now cost P500, while a multiple-entry tourist visa for up to three months rises to P1,000.

Reports show that the new charges could trigger concern within the tourism industry which has repeatedly warned that high travel costs and restrictive immigration measures risk undermining Botswana’s competitiveness against regional rivals such as South Africa, Namibia and Zimbabwe.

Business operators are also expected to closely scrutinise the regulations amid ongoing government efforts to attract foreign direct investment and diversify the economy away from diamonds.

Employment visas have also been revised upward. A single-entry Employment Visa for up to three months will cost P300, while a multiple-entry version for the same duration rises to P500.

Dependents of foreign residents will pay P2,500 for a multiple-entry Visitor’s Visa valid for periods exceeding three months up to two years.

Students have not escaped the fee overhaul either. Undergraduate study visas will range from P300 to P500 depending on whether they are single or multiple entry, while graduate students will pay between P700 and P1,000.

The regulations also impose hefty charges on emergency and transit travel. Emergency visas will now cost P1,500, while tour operators and transporters seeking multiple-entry transit visas valid for up to three years will pay P2,500.

Diplomatic and Official visas remain exempt from charges.

Government has not publicly explained the rationale behind the new fees, but the move comes amid mounting pressure on public finances and growing calls for tighter immigration controls.

Critics are likely to question whether the new visa regime could discourage visitors and investors at a time when Botswana is battling sluggish economic growth, youth unemployment and declining mineral revenues.

Lawyers representing Bakang Seretse have warned the state that they will launch an application for a permanent stay of execution at the High Court if the Regional Magistrate Court does not agree with them Thabo Malambane – Deputy Director in the Directorate on Corruption and Economic Crime (DCEC) – has no legal authority to prosecute Seretse.

On June 11, Gaborone Regional Magistrate Mareledi Dipate will make a ruling on Seretse’s application for the charges levelled against himself and his co-accused to be dropped as Malambane was not lawfully authorized to draw up and sign the charge sheet or even to prosecute the matter.

In papers filed before court, attorneys Unoda Mack and Kabo Motswagole issued a stern warning to the DCEC and Attorney General that, should Dipate not rule in their favour, they will approach the High Court to have the charges quashed or permanently stayed.

‘We implore the state to abandon these charges. There is no reasonable cause to believe that the accused committed any of the offences,’ warned Motswagole and Mack. ‘Kindly treat this letter as a statutory notice that, should you not heed our request, we shall approach the High Court for relief upon lapse of the requisite notice period.’

RIGHT TO FAIR TRIAL

The lawyers also accused the DCEC of violating Seretse and his co-accused’s rights to a fair trial by reviving charges related to an investigation that was conducted some 10 years ago.

Investigations into Seretse, his business partners, Kgori Capital and their dealings with the National Petroleum Fund (NPF) commenced in 2016. At the time, the DCEC focused on a consultancy and advisory services contract that government had signed with Basis Point Capital in December 2015. In executing that contract, Basis Point Capital sub-contracted Kgori Capital to discharge some of its obligations.

In 2017, Seretse, Sharifa Noor, Alphonse Ndzinge, Kgori Capital and Kgori Holdings were charged with money laundering, stealing by agent, forgery of an official document and conspiracy to defraud government. Specifically, Seretse and his co-accused were accused of issuing a false official document instructing Kgori Capital to pay Kgori Holdings P31, 360 000.00 for delivery of a revenue collection and management system to the NPF. The state also alleged the group submitted a false P4 million maintenance claim to the Department of Energy and laundered money through a series of transactions involving suspected proceeds of crime.

An earlier statement from the DCEC claimed, ‘The funds were suspected to have been derived from defrauding government. These transactions were intended to conceal, disguise or transfer the illicit proceeds.’

All the charges were ultimately quashed by the Extension II Magistrate Court in December 2020, only to be reinstated by Malambane in March 2026. In papers filed before court, Seretse’s lawyers accused the DCEC of violating his right to be tried fairly and within a reasonable time.

‘Initiating the charges in 2026 was highly prejudicial as the accused are being subjected to double jeopardy. As such, they are entitled to relief,’ argued the lawyers.

PERMANENT STAY OF PROSECUTION

According to court documents, Basis Point Capital delivered the online fuel levy management system to the government in 2017 and was paid the P31,360,000.00. The defense notes that the system is currently operating to the satisfaction of officials at the Ministry of Energy and Minerals, adding that the millions the DCEC alleges were stolen constituted a legitimate, one-off payment for the infrastructure.

Furthermore, the government has already settled the P4 million maintenance fee claimed by Basis Point Capital in a March 2017 invoice. The Sunday Standard has seen a consent order signed before Justice B. Makhwe on August 3, 2023, confirming this payment.

Motswagole and Mack argue that any administrative questions regarding whether the procurement of the system was properly sanctioned should be directed at government officials, not Seretse and his co-accused. They also highlighted that the validity of the contract between the government and Basis Point Capital was previously reasserted by the Court of Appeal in Kgori Capital vs. The DPP and Another. Given these prior judicial findings, the lawyers argue the state lacks the baseline evidence required to move forward.

‘A person should never be prosecuted in the absence of minimal evidence upon which he might be convicted,’ Mack and Motswagole argued. ‘Accordingly, the charges against the accused persons should not be maintained.’

The defense reiterated that if the state does not abandon the case, the matter will be escalated to the High Court for a permanent stay of proceedings.

Botswana’s energy regulator has delivered the kind of message fuel station operators would rather not receive: fix your act or close shop.

In what amounts to a regulatory version of ‘clean your room or move out,’ the Botswana Energy Regulatory Authority (BERA) says non-compliant filling stations will face shutdowns as it intensifies enforcement across the sector.

And this is not about crooked price boards or a missing mop.

Gift Bakumbi, BERA’s director of gas and petroleum, says inspectors are encountering infractions serious enough to make any risk manager spill their coffee.

‘We are dealing with numerous infractions, including leaking fuel pipes that threaten groundwater contamination, improper use of jerrycans, and failure to adhere to basic safety standards,’ Bakumbi said.

Translation: some operators appear to have mistaken petroleum retail for an improvisational hobby.

BERA has already shut down one filling station in Ramokgwebana, signalling that the regulator is done issuing polite warnings and hoping for self-reflection.

The numbers explain the frustration.

When BERA first began inspections, 84 out of 140 filling stations failed compliance checks. That is less ‘isolated incidents’ and more ‘sector-wide personality trait.’

For fuel retailers, the commercial implications are real. Compliance upgrades cost money. Infrastructure repairs are expensive. Temporary closures hurt revenue.

But so does setting the groundwater on fire.

BERA’s broader argument is straightforward: fuel retail is not a casual enterprise where duct tape and optimism qualify as safety systems.

Since officially beginning operations in September 2017, BERA has become one of Botswana’s youngest but most impactful regulatory bodies.

As Botswana continues its journey towards economic transformation and sustainable development, MMG Khoemacau is taking a leading role in investing in local education and skills development. In response to the Government’s call for increased job creation and diversification from diamond dependency, MMG Khoemacau implemented a comprehensive program focused on internships, apprenticeships, and industry partnerships that empower Botswana’s graduates and communities.

The multibillion-pula Khoemacau Expansion Project, unveiled at the recent groundbreaking ceremony, will transform the nation’s mining landscape. With copper production in concentrate set to more than double from 60,000 tonnes to 130,000 tonnes per annum, the project is expected to generate approximately 5,500 jobs during construction and support a permanent workforce of over 4,000 once fully operational in 2028.

The MMG Khoemacau Graduate Program plays a vital role in strengthening local capacity to meet the demands of the expansion project. By equipping graduates with the skills and experience needed in the mining sector, the program not only ensures their employability but also helps build a future-ready workforce for Botswana. This initiative reflects MMG Khoemacau’s commitment to empowering local communities and contributing to the country’s long-term development, ensuring that the benefits of growth and progress are shared widely and sustainably. Currently, the company is completing its graduate recruitment process, with fifty new graduates expected to join the operation in phases through August. This comes in addition to graduates already on site, forming a growing and diverse cohort across the business.

The true measure of the program’s success will be the development of Botswana’s workforce. MMG Khoemacau continues to work closely with and support the University of Botswana (UB) and the Botswana International University of Science and Technology (BIUST), through offering their students mandatory practical or on the job-training-attachment, for them to complete and qualify to graduate. Once they graduate, the company offers the eligible candidates an extensive graduate trainee program which provides individuals with exposure to the mining industry, giving them the requisite work experience and skills.

The Graduate Trainee Program focuses on: Exploration, Mine Engineering, and Geology and Technical skills. Graduates gain insights into the geological make-up of the Kalahari Copperbelt and profile of its orebody, exploration process through practical exposure, mine engineering and geo technology employed in this highly mechanized underground mining. They engage in daily work planning, underground mining processes, data capturing methods, safety standards, and the application of acquired technical skills in real operational environments. Some of these graduates’ form part of the process plant Metallurgy and Maintenance team, following the journey of copper ore from mining to being processed, packaged and shipped out of Botswana to international markets.

During the recent cohort’s quarterly presentations, the graduates focused on the scope of their role, skills acquired, and the application of adaptive, innovative approaches in executing their requisite tasks. They also openly discussed challenges encountered during their training and offered thoughtful recommendations, while actively seeking feedback to support continuous improvement. These presentations demonstrate the impact of MMG Khoemacau’s Graduate Program, highlighting inspirational success stories, testimonials and reaffirmed the organization’s strong commitment to talent development, promotion of safe sustainable mine practices and continuous learning.

MMG Khoemacau’s commitment to capacity building goes beyond standard mining and geotechnical expertise, with its graduate program focused on developing talent in a variety of fields including human resources, supply chain, external affairs, administration and logistics, as well as facilities and camp management. By offering internship opportunities across these disciplines, MMG Khoemacau ensures graduates gain industry-relevant skills that open doors to diverse career paths. This approach reflects the company’s dedication to nurturing local talent and supporting the overall growth of Botswana’s workforce, truly ensuring that no one is left behind.

These efforts support MMG Khoemacau’s vision of a national mining skills partnership that advances socio-economic development, aligns with Botswana’s economic transformation agenda, and brings the benefits of local mineral beneficiation to individuals, families, and communities across the country. As the MMG Khoemacau Expansion Project progresses, MMG’s ongoing investment in education and skills development stands as a testament to its commitment to Botswana’s long-term prosperity and the creation of a skilled workforce ready to drive the nation’s future growth.

Botswana’s residential property market lost momentum in 2025, with falling prices highlighting a growing divide between resilient demand for affordable housing and weaker appetite for higher-end homes.

Data cited in the Bank of Botswana’s April 2026 Monetary Policy Report shows the average price of residential properties sold fell 9.9 percent quarter-on-quarter to P888,055 in the third quarter of 2025, driven by declines in Greater Gaborone, Francistown and Selebi-Phikwe.

The figures suggest the housing market has entered another cooling cycle after a fragile post-pandemic recovery.

Botswana’s residential market weakened sharply in 2020 as economic disruption dented buyer confidence, with average prices falling from P802,379 in the first quarter to P720,000 by the fourth quarter. Conditions improved in 2021 and strengthened further in 2023, when prices recorded moderate gains, particularly in Gaborone.

That recovery, however, appears to have lost momentum.

Average residential sale prices slipped to P907,622 in the first quarter of 2025 before declining further later in the year.

The slowdown is not uniform across the market.

Affordable housing continues to show resilience, with steady demand for homes priced between P400,000 and P1 million, as well as rental units below P5,000 per month, according to property analysts Riberry Botswana.

By contrast, supply in the medium- and upper-end residential market increased, putting downward pressure on prices as buyers turned cautious.

The property slowdown mirrors broader economic weakness.

Botswana’s sluggish economy, pressure on household incomes and tighter financing conditions are weighing on demand. The Bank of Botswana says appetite for residential property loans has weakened because of affordability concerns, higher borrowing costs and the discontinuation of GEMVAS.

Despite repeated talk of economic recovery and transformation, Botswana remains firmly trapped in the grip of the diamond downturn.

The Bank of Botswana says weak global demand for diamonds, shifting consumer preferences and slow progress in economic diversification continue to weigh heavily on growth, exposing the country’s enduring dependence on its most important export.

In its April Monetary Policy Report, the central bank said overall economic performance remains weak, constrained by subdued global conditions, structural challenges in the diamond sector and sluggish transformation efforts.

Botswana’s economy contracted by 0.7 percent in 2025, following a 2.8 percent contraction in 2024, underscoring how the economy has struggled to regain momentum even as parts of the non-mining sector continue to expand. Mining GDP fell 14 percent last year, while diamond mining alone contracted 14.9 percent.

The central bank’s assessment offers a sobering reminder that Botswana’s diamond problem is no longer merely cyclical.

Global rough diamond prices fell 4.5 percent in the first quarter of 2026 as weak demand, excess inventories and persistent uncertainty continued to pressure the market. The report also flagged the growing threat from lab-grown diamonds, which now account for an estimated 20 to 25 percent of market share, particularly in lower-value segments.

The fallout is already showing in public finances.

Lower mineral revenues have forced the government to widen its budget deficit projections, while the central bank warns that continued diamond weakness could deepen fiscal pressures, strain foreign exchange reserves and complicate recovery efforts.

For all the rhetoric around diversification, the Bank’s message is unmistakable: Botswana remains dangerously exposed to a diamond industry undergoing structural change and time is running out to build a credible alternative.

Botswana’s worsening fiscal position is emerging as a growing threat to economic recovery, with the Bank of Botswana warning that rising government borrowing could drain liquidity from the financial system and squeeze credit to businesses.

In its April Monetary Policy Report, the central bank painted a picture of an economy facing pressure from multiple fronts: weak growth, rising inflation, tighter liquidity and an expanding government financing gap.

While public attention has largely focused on inflation and the recent interest rate increase, the deeper concern may lie in the state’s increasing appetite for debt.

The revised 2025/26 budget projects a deficit of P25.5 billion, equivalent to 9.3 percent of GDP, up from the original estimate of P22.1 billion, largely due to weaker mineral revenues as the diamond market remains under pressure. For 2026/27, the deficit is projected at P26.4 billion.

With government investment balances critically low and part of the financing gap still unfunded, authorities are leaning more heavily on borrowing, including domestic debt instruments.

For the central bank, that carries consequences.

The report warns that greater government borrowing could crowd out private sector access to credit at a time when businesses already face tight liquidity and slowing economic activity. Commercial bank credit growth slowed to 2.6 percent in February, down from 5.8 percent a year earlier, suggesting lending appetite is already weakening.

The Bank’s decision to raise the monetary policy rate by 200 basis points to 5.5 percent was partly aimed at improving monetary policy transmission in a strained liquidity environment, not simply containing inflation.

For Botswana’s private sector, the risk is straightforward: as government borrows more to stay afloat, less room may remain for businesses trying to fund expansion, investment and survival.

Botswana’s inflation rate surged into double digits in April, delivering a sharp cost-of-living shock that could complicate the Bank of Botswana’s policy path in the months ahead.

Latest figures from Statistics Botswana show annual inflation accelerated to 10.3 percent in April, up from 4.2 percent in March, marking one of the steepest month-on-month jumps in recent years.

The spike was overwhelmingly driven by transport costs after the March fuel price adjustment filtered through the economy and public transport operators raised fares from the start of April.

Transport alone contributed 7.4 percentage points to the inflation figure, dwarfing all other categories. The transport index rose 21.1 percent in a single month, with the cost of operating personal transport climbing 33.8 percent, while transport services rose 16.6 percent.

The data underscores how vulnerable Botswana remains to imported inflation shocks. Imported tradeables inflation climbed to 17.8 percent, from 6.6 percent in March, reflecting the pass-through effect of higher fuel and import costs.

Rural households appear to have taken the hardest hit, with inflation in rural villages reaching 11.8 percent, compared to 10.1 percent in urban villages and 9.6 percent in towns and cities.

Beyond transport, inflation pressures are broadening. Insurance costs jumped 13 percent, helping push miscellaneous goods and services up 6.8 percent.

More worrying for policymakers, core inflation is beginning to stir. Trimmed mean core inflation rose to 8.8 percent from 4.8 percent, suggesting price pressures are spreading beyond one-off administered increases.

For households already stretched by stagnant incomes, April’s inflation print signals that the squeeze is no longer confined to the petrol station – it is moving across the economy.

Shrinking government to allow the private sector to grow should be our nation’s motto. That is how it works and has worked all over the world. Even those nations frequently held up as paragons of welfare and compassion have moved on.

You see the cash crunch we are facing with your own eyes. Go to a government building for a meeting, and you see things for yourself. They can’t even serve you bottled water. They are unable to serve simple refreshments, even though that was not always necessary in many cases. So the signs of the cash crunch are out there for everyone to see.

But the long and short of this cash crunch is that, over time, the public sector has become outsized. There is no running away from that. This is where the correction needs to take place. And we all understand that the correction is bound to be painful. Over time, many in this country have behaved as though the government, by nature, has a perennial source of funds. They never imagined that the government could one day run short of money, despite repeated warnings from esteemed international organisations.

They saw countries in the region struggle, with some even failing to pay salaries on time but could not conceptualise that, something that happens to a country that has a large and unproductive public sector compared to the private sector. You need a bigger private sector simply because that is where wealth creation occurs. The bulk of the stuff they do in government adds little to wealth creation.

We have resisted calls to reduce the public sector. And we have even turned the notion of the privatisation of state-owned enterprises into a secular heresy. The very mention of the name privatisation is akin to using a swear word. However, no one gains out of this state of affairs. No one gains from continuing to bury their heads in the sand.

The cash crunch is apparent when you visit public schools or hospitals. The schools are in disrepair, while the ability of some hospitals to provide nutritious food to patients is at risk of being compromised. Surely this is not where we want to be.

There is a tendency among the professional class in government to try to sit out the current crisis, hoping that the situation will somehow improve. While hope is a good virtue, it is not a strategy.

The strategy for turning the situation around should follow what others have done around the world. Sweden is a case in point. We see Sweden and its fellow Scandinavians as our default example of the beauty of big government. However, Sweden has moved on since electing a market-oriented prime minister.

They have embarked on a series of reforms that have borne fruit. They have reformed the pension systems, reduced unsustainable unemployment benefits, reduced business red tape and cut corporate tax to attract investment. The tax cuts have led to the return of entrepreneurs who had fled Sweden’s notoriously punitive taxes. They have allowed the private sector to take over failing public schools and hospitals.

So this shows that a large public sector weighs down on growth and prosperity and needs to be pared back, irrespective of whether you are in Sweden or Botswana.

Access Bank Botswana has delayed the release of its audited financial statements for the year ended December 2025, citing an unresolved audit matter that remains under review.

In an update to shareholders, the Botswana Stock Exchange-listed lender said publication of the results has been pushed back because of what it described as a ‘single open matter’ still being assessed as part of the audit process.

The delay extends uncertainty around the bank’s annual performance, particularly as listed companies are expected to publish audited financial statements within regulatory timelines.

Access Bank, however, sought to calm investor concerns, insisting the unresolved issue does not affect the bank’s underlying financial performance, capital adequacy, liquidity position or its ability to continue operating as a going concern.

The lender did not disclose the nature of the outstanding matter, leaving the market with limited clarity on what has held up the final audit sign-off.

The latest announcement follows an earlier cautionary notice issued on March 27 and a subsequent update on April 15, suggesting the delay has persisted for several weeks.

The board said management remains committed to governance, transparency and regulatory compliance, adding that the audit process is expected to be concluded on or before June 3, 2026.

Until then, shareholders have been advised to exercise caution when dealing in the bank’s securities.

While the bank’s reassurance may temper immediate fears over financial distress, prolonged delays in audited reporting tend to unsettle investors, particularly when details of the unresolved issue remain undisclosed.

For a bank, where confidence is currency, opacity can prove almost as damaging as weak numbers.

The focus will now shift to whether Access Bank meets its revised deadline and whether the eventual results provide clarity on what triggered the hold-up.