Category: Sunday Standard

Turnstar Holdings Limited recorded a 10.5 percent decline in profit after tax to P85.1 million for the six months ended July 2026, despite improved rental income and operating performance across its property portfolio.

The property group’s unaudited interim results show that profit after tax fell from P95.2 million recorded in the corresponding period last year, reflecting a significant change in its tax position.

Taxation shifted from a P22.5 million credit in the previous comparable period to an expense of P1.7 million during the period under review, weighing on the bottom line.

The decline came despite a 4 percent increase in revenue to P181 million, while operating profit improved 4.4 percent to P102.3 million.

Profit before tax rose 19.5 percent to P86.9 million, supported partly by a favourable foreign exchange movement that generated a P6.6 million gain, compared with a P6.4 million loss in the previous period.

Rental growth across its operations in Botswana, Tanzania and Dubai supported the improved operating performance.

In Botswana, external revenue increased to P92 million from P87 million, while operating profit edged up to P59.5 million from P57.1 million.

Tanzania’s Mlimani City recorded an 11 percent increase in operating profit, supported by higher rental income and improved cost management. In Dubai, Palazzo Venezia remained fully occupied, with rental income rising 22 percent.

Despite the lower after-tax earnings, the board proposed an interim distribution of 10 thebe per linked unit, comprising 7.305 thebe in debenture interest and 2.695 thebe in dividends.

Borrowings remained unchanged at P596 million, while total assets stood at approximately P2.8 billion.

The Non-Bank Financial Institutions Regulatory Authority (NBFIRA) has declined to disclose the specific violations that prompted the decision to place Minet Botswana under statutory management.

Responding to our inquiry, the regulator said the shortcomings were identified through its regulatory and supervisory tools.

NBFIRA said Minet was placed under statutory management based on ‘identified non-compliances by the regulated entity, identified through NBFIRA’s regulatory and supervisory tools.’

The Authority did not specify the nature of the non-compliances, the regulatory provisions allegedly breached or when the concerns were first identified.

It said it continually engages regulated entities to ensure compliance, adding that it ‘immediately escalated its intervention to that of appointment of a statutory manager’ when it became apparent that this level of intervention was required.

The regulator also declined to provide details of the inspections, audits, investigations or supervisory assessments undertaken before the decision. It said it had applied supervisory tools provided for under the laws governing regulated entities.

On whether Minet had previously received warnings, compliance notices or remedial instructions, NBFIRA was also cagey, saying it engages regulated entities on identified non-compliances on an ongoing basis. ‘The appointment of a statutory manager was only done after all the necessary steps were taken to address the concerns,’ it said, adding that the intervention was intended to close compliance gaps and protect clients’ interests.

The Authority said its engagement with Minet included the development of a remedial action plan, but did not disclose its contents or the measures that had been required of the company.

Sunday Standard’s request for a chronological account of the regulatory process, including the dates of key decisions and notices, was also declined. ‘Regulatory intervention to that level of detail is confidential between the Regulatory Authority and the regulated entity,’ NBFIRA said.

The regulator confirmed that it had considered and applied a range of supervisory and remedial interventions before placing Minet under statutory management. It again cited confidentiality when asked why those earlier measures had not resolved the concerns. Questions about the role of Minet’s board and senior management also received limited responses.

NBFIRA said its regulatory and supervisory approach takes a holistic view that includes the governance of regulated entities. However, it did not indicate whether any specific findings had been made against the board or individual directors.

Asked what enforcement or disciplinary action had been taken, or was being considered, against directors and senior management, including possible penalties, reprimands, disqualification or removal from office, the Authority also refused to disclose suffice it to say ‘regulatory intervention at Minet Botswana is ongoing.’

The same response was given when asked whether any action had been taken against the board or senior management. ‘Statutory management is a regulatory tool used by the Regulatory Authority as a remedial intervention meant to stabilise operations at a regulated entity and put in place sustainable corrective actions,’ it said. The Authority added that the process also serves as a mechanism for protecting clients and ‘should not be viewed as a punitive sanction’.

Under the arrangement, statutory manager Thulisizwe Johnson assumes responsibility for the management of the company. NBFIRA said Minet continues to service its clients and fulfil its obligations. ‘NBFIRA confirms that Minet Botswana continues to service all its clients and execute all legitimate obligations,’ it said.

The Authority statutory management would be lifted once it was satisfied that the measures implemented by the statutory manager had resolved the non-compliances and addressed the identified regulatory and supervisory gaps.

In explaining the framework governing such interventions, NBFIRA said it uses an established supervisory ladder to address non-compliance among non-bank financial institutions. The measures range from less intrusive interventions to statutory management, licence revocation and liquidation. ‘Statutory management is used when earlier interventions have proved ineffective or immediate action is needed to protect affected stakeholders or the market,’ it said.

NBFIRA described the measure as intrusive, explaining that a statutory manager assumes control of an entity’s affairs to the exclusion of its management and board. It said the intervention was therefore reserved for exceptional circumstances and applied as a last resort.

Former President Mokgweetsi Masisi has reportedly pleaded ignorance regarding the controversial P45.1 million Karakul sheep procurement, effectively withdrawing the executive shield that protected the Directorate of Intelligence and Security (DIS) and former Director General Brigadier Peter Magosi from DCEC investigations.

As source close to the investigations has confirmed to the Sunday Standard that the DCEC recently interviewed Masisi on the controversial deal, the former president claimed ignorance and directed all questions to the DIS and Magosi.

By denying knowledge of the transaction and refusing to invoke presidential privilege, Masisi dismantled the agency’s national security defense and empowered the DCEC to treat the deal as potential financial fraud.

In the high-stakes legal chess game unfolding within Botswana’s accountability bodies, Masisi’s recorded statement has altered the balance of power. A source inside the Directorate on Corruption and Economic Crime (DCEC) explained that under established public procurement law, subordinate officials cannot be easily prosecuted for financial irregularities if they can prove they were executing a direct, lawful command from the head of state under an authorized national budget.

Had Masisi chosen to invoke presidential privilege, it would have signaled that the DIS acted with the full, explicit authorization of the Commander-in-Chief. That legal maneuver would have instantly shifted the status of the P45,142,152 transaction from an ‘unauthorized, irregular transaction’ to a ‘classified, executive-sanctioned expenditure,’ completely insulating the spy chief and his internal signatories from personal criminal liability.

Instead, the former president’s flat plea of ignorance has cut the ropes on Magosi’s primary defense line. During a prior Public Accounts Committee (PAC) hearing, Magosi had aggressively stonewalled lawmakers, claiming that details surrounding the Karakul sheep deal were strictly classified for national security reasons. That defense implicitly signaled to the public that the DIS was executing a sensitive, top-secret directive from the highest office in the land.

By formally denying any knowledge of the transaction to DCEC investigators, Masisi has exposed that narrative as a fiction. The former president’s statement establishes that the multi-million-pula livestock procurement was never an authorized, top-down state mandate. Rather, it was an isolated, independent gamble taken entirely within the walls of the DIS, leaving Magosi to stand completely alone before the law.

Furthermore, Masisi’s statement completely neutralizes the intelligence apparatus’s most effective shield, the blanket claim of national security. Historically, whenever independent auditors or parliamentary oversight committees knocked on the door of the DIS, the agency refused cooperation by arguing that revealing its financial trails would compromise the safety of the republic.

A DCEC insider explained that the argument holds no legal water when the former president, who served as the ultimate custodian of Botswana’s national security when the funds were moved, states under oath that he has no idea what the operation was about. With the executive cover evaporated, the DCEC is now fully empowered to strip away the classification tags and treat the missing Central Asian sheep import as a standard case of public fund misappropriation.

Armed with Masisi’s official disclaimer, DCEC investigators now have the green light to launch an unprecedented financial audit of the intelligence agency’s internal accounting systems. The DIS can no longer hide behind missing paperwork or classified exemptions. They are now legally compelled to produce the raw internal authorization vouchers, bank transfer records with Absa Bank, and procurement board minutes that permitted over P45 million to exit the state treasury for Dubai-based contractor Grand Technology Resources.

If the resulting paper trail proves that these public funds were diverted without proper statutory approvals, the entire upper echelon of the DIS will face total exposure. Masisi’s refusal to shield his former spy chief has effectively transformed the missing Uzbekistan sheep from a quiet bureaucratic mystery into an existential legal crisis for Botswana’s intelligence elite, proving that even the most powerful security apparatus cannot survive once the palace withdraws its favor.

Botswana’s economy is showing signs of recovery, but a heavy reliance on diamond production, weakening private-sector activity and mounting pressure on households threaten to undermine the rebound, according to a new economic review by Econsult.

The consultancy’s third-quarter 2026 review forecasts economic growth of 3.3% for the year, which would be the strongest annual expansion since 2022. However, it warns that the recovery remains narrowly based, with mining accounting for much of the improvement.

Annual GDP growth accelerated to 3.7% in the second quarter, up from 0.2% in the previous quarter, largely reflecting a recovery in diamond production.

But Econsult cautions that increased production has not necessarily translated into stronger export earnings, with much of the additional output believed to have accumulated in stockpiles rather than being sold.

‘Growth driven by increased but unsold diamond production therefore has little wider economic benefit,’ the report says.

The disconnect is evident in household spending. Despite an 8.7% increase in quarterly GDP in the second quarter, real household consumption fell 7.2%, highlighting the limited benefits of the production-led recovery.

Outside mining, the non-diamond private sector recorded annual growth of just 1.6%, underscoring the challenges facing efforts to diversify the economy.

Agriculture was among the worst-performing sectors, contracting 5% in the second quarter as Foot and Mouth Disease restrictions disrupted livestock movement and slaughtering. Livestock output plunged 48% year-on-year, while meat-processing output declined 61%.

The trade position has also deteriorated. Botswana’s visible trade deficit widened to P17.6 billion in the seven months to July, compared with P4.8 billion during the same period last year.

Exports declined 22%, while imports increased 6%, partly reflecting a 57% jump in fuel imports during the second quarter compared with the first.

Meanwhile, inflation eased to 7.8% in September from 10.7% in June. However, Econsult warned that the decline could prove temporary because domestic fuel prices have not fully adjusted to higher international costs.

The consultancy estimates that compensation to oil-importing companies for the gap between import costs and regulated pump prices exceeds P400 million a month.

Financial conditions remain another concern. Bank credit contracted 2.2% in the year to July, marking the weakest growth in three decades, as high borrowing costs and subdued business confidence weighed on lending.

There are, however, some encouraging developments. Foreign exchange reserves reached P63.2 billion at the end of July, up P15.4 billion over 12 months, while government borrowing costs have started declining.

Econsult expects lower interest rates to eventually revive lending, but warns that fiscal pressures will persist.

The report says Botswana must accelerate structural reforms to address constraints on private-sector expansion, including over-regulation, restrictive immigration policies and difficulties accessing land.

While the recovery is welcome, the broader challenge remains turning increased mineral production into sustainable economic growth that reaches businesses and households.

Botswana’s Central District could record as many as 180 heat-related deaths between October 2026 and March 2027, according to projections from a climate research model, as a developing El Niño threatens to intensify extreme temperatures and worsen drought conditions across the country.

The Climate Impact Lab’s El Niño Heat Mortality Tracker, developed at the University of Chicago, identifies parts of the Central District as among Botswana’s most vulnerable areas, highlighting the potential human cost of prolonged heat as the country prepares for months of above-average temperatures and below-normal rainfall.

The projections come as the Department of Meteorological Services warns that El Niño could strengthen and persist into early 2027, raising concerns about the combined effects of extreme heat, water shortages and pressure on public health.

The tracker estimates between 49 and 180 heat-related deaths in areas including Nata, Sowa Town, Mmadinare, Serowe, Palapye, Mahalapye, Orapa and Khwee over the six-month period. Kweneng and the North-West District are projected to record between 15 and 49 deaths, while Ghanzi faces an estimated toll of between zero and 10.

The figures are model-based estimates that compare projected mortality with historical conditions, rather than confirmed deaths or a definitive forecast of how many people will die.

The threat extends beyond Botswana. The tracker projects Nigeria to record more than 56,000 heat-related deaths during the period, followed by India with about 55,200. Indonesia, Brazil and Sudan round out the five countries with the highest projected tolls, at approximately 29,300, 19,500 and 14,700 deaths, respectively.

‘The 2026/27 regional outlook indicates an increased likelihood of below-normal rainfall and above-average temperatures across Botswana,’ Director of Meteorological Services Chandapiwa Sebeela said during a government briefing reported by DailyNews on October 28.

The outlook raises concerns about risks to vulnerable populations, including older people, children, people with existing health conditions and workers exposed to direct sunlight. Prolonged heat can cause dehydration, heat exhaustion and potentially fatal heatstroke.

The Ministry of Health has warned that high temperatures can increase the risk of heat-related illness. Symptoms include excessive sweating, fatigue, breathing difficulties and confusion, according to a government briefing.

The combination of heat and reduced rainfall could also deepen pressure on food security and water supplies. Drought can damage crops, reduce grazing and water availability for livestock, and increase the risk of food shortages. Restricted access to safe drinking water can further heighten the risk of diarrhoeal diseases, particularly among children.

‘Our research puts new forecasting capabilities to work to answer one of the most urgent questions we face: where is extreme heat likely to cost lives?’ Michael Greenstone, a co-founder of the Climate Impact Lab and an economics professor at the University of Chicago, said in the announcement introducing the tracker.

The researchers say the projections are intended to help governments identify high-risk areas and direct interventions before deaths occur. Measures such as heat-warning systems, improved access to healthcare, cooling centres and stronger protections for outdoor workers could help limit the toll.

Authorities in Botswana have urged residents to minimise prolonged exposure to direct sunlight, schedule outdoor activities during cooler morning hours, seek shade and drink water regularly.

The eventual impact will depend on local temperature conditions, the duration of heat exposure, population vulnerability and the effectiveness of preventive measures. The projections nevertheless highlight the potential for extreme heat to become a significant public-health threat as El Niño-related conditions develop.

Botswana athletes seeking to compete at the World Athletics Championships in 2027 are obligated to have undergone at least three out-of-competition testing in the 10-month period prior to 26 August 2027.

This is as per the order of the Athletics Integrity Unit (AIU) Board in a letter dated 14th October 2026 and emailed to the Botswana Athletics Association (BAA).

In the letter, which was signed by Head of the AIU Brett Clothier, the AIU warns that ‘no athlete may participate as part of the Botswana National Team in the 2027 World Athletics Championships’ unless they have undergone the stipulated out of competition tests.

‘The three no notice out-of-competition tests must have been conducted with at least 21 full days between each test. The first of the three no notice out-of-competition tests must have been conducted no later than 24 weeks prior to the start of the competition, namely by 26 March 2027,’ the AIU states in the letter.

According to the AIU, the decision to impose ‘specific testing obligations’ on BAA ‘was as a result of the BAA’s failure to meet its testing obligations for 2022, 2023 and 2024 pursuant to Rule 15.6.1.’

It further explains ‘the decision to impose specific testing obligations came after it had conducted a comprehensive review of the testing conducted on Category B Federation national teams following the 2025 Tokyo World Championships.’

From the said review, it was discovered that ‘the level of out-of-competition testing conducted on the Botswana team who competed at the Tokyo World Championships showed no material improvement in 2025. On the contrary, it showed that ‘the level of out-of-competition testing of Botswana athletes in the lead -up to Tokyo in fact decreased.’

Botswana ranked 19th in Tokyo and ‘had the highest percentage of top-ranked athletes in its team in Tokyo, with 5 of the 10 athletes in the Top 8.’

Of concern however for the AIU was that ‘only 8 out-of-competition tests were conducted by the Botswana NADO on athletes competing in Tokyo.’ It further discovered that ‘30% of the National Team competing in Tokyo,’ representing 3 athletes, ‘had not undergone any out-of-competition tests.’

Another cause for concern was the AIU’s discovery that ‘out -of -competition testing by the NADO in Botswana decreased in the lead -up to Tokyo (compared to the lead -up to Paris), despite the two AIU warning letters sent in early and late 2024.’ The review further discovered that ‘there was no national testing pool and no whereabouts programme in place.’

‘Pursuant to Rule 15.6.4, the AIU Board decided in the circumstances to impose the following testing obligations on the BAA for the purposes of the 2027 World Athletics Championships taking place in Beijing, China on 10-19 September 2027.

The testing obligations however will not affect Botswana’s elite athletes such as Letsile Tebogo, Collen Kebinatshipi, Bayapo Ndori and Tshepiso Masalela. The AIU Board in its letter stipulates that ‘the specific testing obligations relate to BAA athletes who are not part of the International Registered Testing Pool.’

The quartet, which forms the core of Botswana’s elite team and also regarded as among the best in the world, are in the AIU’s international Registered Pool. Unlike the rest of the athletes, these athletes are subjected to a very strict and rigorous testing regime by the AIU both in and out of competition.

As a privilege of being among the elite, they are expected to inform the AIU about their exact location every single day of the year through the Anti-Doping Administration and Management System (ADAMS). They are also required without fail to provide a specific 60-minute time slot everyday where they guarantee their availability for testing. The intrusive testing system means they have to, among others, log in details of where they will spend their nights each single day, where they will train as well as their competition schedules.

The imposition of the strict out-of-competition testing for local athletes, has been welcomed by the BAA. ‘We welcome the AIU decision. As an association, we are advocates for clean sport. We want our athletes to compete fairly and not cheat. People have to earn their stripes,’ BAA president Oabona Theetso says.

He adds that the letter in no way implies that Botswana athletes are doping. Rather, it seeks to ensure strict adherence to testing. ‘Our athletes were tested prior to competitions, more especially during camps. What the AIU seeks is for us to increase the frequency of testing as the tests were carried out were not enough.’

Theetso went on to emphasise that the testing was meant for athletes who were not yet in the top tier of elites in the world. ‘As you know, four of our top elites, Letsile, Kebinatshipi, Ndori and Masalela are in the international registered testing pool and are tested by the AIU. These athletes are not affected by the AIU directive.’

He says the BAA will continue to work around the clock to ensure local athletes meet the AIU requirements and are eligible to compete.

Botswana is expected to finance its HIV and tuberculosis (TB) programmes entirely from domestic resources by the end of 2030. This is after the Global Fund to Fight AIDS, Tuberculosis and Malaria designated its latest grant cycle as the country’s final allocation for the two diseases.

The decision is accompanied by a reduction in funding for HIV with Botswana’s allocation falling from US$22.88 million (about P305.45 million) under Grant Cycle 7 (GC7) to US$13.12 million (about P175.15 million) under Grant Cycle 8 (GC8). This is a decline of 42.6% or approximately US$9.75 million (about P130.16 million).

The tuberculosis allocation has also been reduced from US$1.15 million (about P15.35 million) to US$979,998 (about P13.08 million). This represents a 14.4% decrease.

The funding decision places pressure on the government to develop a credible financing plan to sustain HIV prevention, treatment and community-based services, while maintaining TB diagnosis and treatment as the country prepares for the withdrawal of the Global Fund’s financial support.

In an allocation letter dated 13 March 2026 addressed to Botswana government representative, Thapelo Phuthego and currently the deputy permanent secretary in the Ministry of Youth and Gender Affairs, Head of the Global Fund’s Grant Management Division,Mark Eldon-Edington states that the latest funding cycle will be the last for both HIV and TB.

‘In line with the Global Fund’s Sustainability, Transition, and Co-Financing Policy (STC policy), the Global Fund has determined that GC8 will be the final allocation for Botswana for HIV and TB, so investment priorities should reflect the need to transition to domestic funding at the end of this grant cycle,’ Eldon-Edington states.

The grants are scheduled to cover the period from 1 January 2028 to 31 December 2030 giving Botswana a defined window to prepare for the transition.

The Global Fund has allocated Botswana up to US$14.10 million (about P188.30 million) for HIV, TB and resilient and sustainable health systems during GC8. Of this amount, US$13.12 million (about P175.15 million) is earmarked for HIV and US$979,998 (about P13.08 million) for TB.

The allocation letter makes clear that the challenge extends beyond replacing donor money. Botswana is expected to reform procurement, strengthen public financial management and integrate HIV and TB services into the broader healthcare system to ensure that programmes remain sustainable after external financing ends.

Eldon-Edington warns that the decision comes at a time when external health financing is constrained and the global health environment is changing rapidly.

Eldon-Edington adds that; ‘Together, the Global Fund partnership has made remarkable progress in the fight against HIV, tuberculosis (TB) and malaria over the past two decades.’

‘Now, with significant constraints in external financing for health and a rapidly evolving global health ecosystem, we must adapt and intensify our focus on delivering sustainable health outcomes in this new context,’ he says.

He says the new funding framework is intended to accelerate countries’ transition towards self-reliance, sharpen spending priorities and improve value for money.

‘For GC8, Botswana has been allocated up to US$14,104,603 (about P188.30 million) for HIV, TB and building resilient and sustainable systems for health (RSSH). This allocation has been determined according to a methodology primarily based on disease burden and income level,’ the letter states.

The Global Fund has urged Botswana to develop a robust transition plan aimed at fully domestically funded HIV and TB responses. It warns that investment decisions under the final grant cycle must take account of the impending withdrawal of its support.

‘Botswana is encouraged to focus on implementing a robust transition plan to enable fully domestically-funded HIV and TB responses,’ Eldon-Edington says.

He adds that the country should prioritise sustainable financing for community health systems, cost-effective procurement, integrating disease programmes into the wider health system and streamlining management structures.

The letter also urges Botswana to strengthen government-led financing for civil society organisations that provide HIV and TB services including expanding social contracting arrangements that allow such organisations to deliver essential services.

On HIV prevention, the Global Fund recommends prioritising integrated pre-exposure prophylaxis (PrEP), sexual and reproductive health services, and hepatitis services, particularly for vulnerable populations.

For TB, it recommends more efficient screening, integrated service delivery and near point-of-care molecular testing to improve diagnosis and increase case notifications.

The transition will also require the government to assume responsibility for health infrastructure and operating costs previously supported by the fund.

Eldon-Edington recommends further that; ‘Transitioning health systems investments financed by the Global Fund to domestic financing including support for PSA plants, GeneXpert maintenance and operational costs, and critical human resources supporting HIV and TB service delivery.’

Public hospitals and clinics are reportedly being prevented from soliciting donations of medicines and medical supplies from potential benefactors, Sunday Standard been informed. This is despite continuing shortages that have left patients struggling to access essential healthcare.

A health professional, who spoke about the situation in the public health sector, described conditions as dire, saying some facilities had gone for more than six months without critical medicines and were running short of basic supplies such as cotton wool.

‘The situation is super bad. That’s the honest, painful truth,’ the professional said.

‘Whatever is there is in very limited numbers. We have been without a lot of critical medication for almosta year now. We don’t even have cotton wool.’

The source said the shortages extended beyond medicines to include an acute shortage of blood. Public health facilities just cannot provide essential and potentially life-saving treatment.

The situation is compounded by reports that health facilities cannot independently approach potential donors for assistance, leaving them reliant on government procurement and supply systems that have so far failed.

The professional said public facilities were unable to purchase supplies or pay suppliers without authorisation from the Ministry of Finance, while outstanding payments to suppliers had reportedly accumulated to millions of pula.

‘We can’t buy or pay suppliers without authority from Ministry of Finance. Suppliers are owed millions,’ the source said.

The restrictions on fundraising and soliciting donations mean hospitals and clinics cannot explore alternative ways of obtaining urgently needed supplies while government procurement processes remain constrained.

Patients have to look elsewhere to obtain their prescriptions. The shortages also extend to basic wound-care materials, including cotton wool and bandages, placing additional pressure on patients who depend entirely on the public health system.

The revelation comes just days after President Duma Boko returned from a state visit to China where, he said, the government secured a commitment of medical equipment and healthcare consumables worth tens of millions.

Addressing the media in Gaborone on October 19, Boko announced that China had also deployed 46 doctors to assist, as the government seeks to address challenges in the health sector. He also referred to anticipated medicine supplies from Oman reportedly worth millions as well.

The medicine supply crisis previously prompted Boko to declare a public health emergency in August 2025 after severe shortages affected hospitals and clinics nationwide. The disruption included shortages of essential medicines and medical commodities, with the government launching emergency procurement and distribution interventions.

In January 2026, the Ministry of Health reported that medicine availability had improved through local and international procurement, while acknowledging that the supply situation had yet to stabilise fully.

The latest account from the health professional suggests that serious gaps persist, particularly in access to essential medicines and basic consumables.

Botswana still has no bilateral arrangements for exchanging multinational companies’ tax reports years after an international watchdog first raised the issue.

A newly reeased Country-by-Country Compilation of 2026 Peer Review by the Organisation for Economic Co-operation and Development’s (OECD) has revealed that Botswana has failed to establish key international arrangements required to exchange tax information on multinational companies. This has left the country facing a longstanding transparency gap under.

The findings which where prepared under the Inclusive Framework on Base Erosion and Profit Shifting (BEPS) action 13, further reveal that Botswana has no bilateral relationships in place for exchanging country-by-country (CbC) reports; a critical mechanism designed to help tax authorities scrutinise the activities of multinational enterprises and assess whether profits are being reported and taxed appropriately across jurisdictions.

The shortcoming is not new. The OECD said the same recommendation was made during Botswana’s 2018/2019 peer review and remains unresolved in the 2026 assessment. It is understood that the continued absence of qualifying exchange arrangements raises questions about Botswana’s ability to participate effectively in the international sharing of multinational tax information even as it has introduced domestic legislation requiring country-by-country reporting. The OECD report acknowledges progress on domestic legislation. Botswana has introduced a filing requirement for country-by-country reports, removing an earlier recommendation that it enact legislation imposing the obligation. However, the international body says it has not yet been possible to review the legislation. The assessment of Botswana’s domestic legal and administrative framework will therefore be included in the next peer review.

The report’s overview lists several essential details as ‘TBC’ (to be confirmed), including the first reporting fiscal year, the consolidated group revenue threshold, the filing deadline, whether local filing is required, whether surrogate parent entity filing is permitted and when the domestic framework will first be reviewed. The country-by-country reporting is designed to give tax authorities a consolidated picture of large multinational groups’ operations across different jurisdictions.

The most persistent concern is Botswana’s failure to establish qualifying agreements for the automatic exchange of country-by-country reports with relevant jurisdictions. The OECD recommends that Botswana secure qualifying competent authority agreements with jurisdictions that belong to the Inclusive Framework, provided the necessary conditions are met and an international agreement allowing automatic exchange of tax information is already in effect.

These arrangements are intended to ensure that tax information can be exchanged securely and consistently with appropriate safeguards governing its use.

The report suggests that without such arrangements, Botswana lacks the established bilateral framework needed to receive and exchange these reports through the OECD’s country-by-country reporting mechanism.

The OECD’s recommendation has remained in place since the 2018/2019 review, making the issue a longstanding challenge rather than a newly identified weakness. The assessment also records improvements in two areas that were previously flagged by the OECD. Botswana has established processes or written procedures intended to ensure that information exchanges comply with the relevant terms of reference. The recommendation on those procedures has consequently been removed.

The country has also introduced controls to ensure that country-by-country reports are used appropriately. The OECD has therefore withdrawn its earlier recommendation on appropriate use. These developments indicate progress in preparing the administrative safeguards needed for international tax-information sharing. However, the absence of bilateral exchange relationships remains a central obstacle.

The distinction is important: having domestic filing requirements and safeguards for handling tax reports does not, on its own, establish the international agreements necessary to exchange those reports with other tax authorities. The findings come amid sustained international efforts to combat base erosion and profit shifting, practices through which multinational enterprises may exploit differences between national tax systems to shift profits away from jurisdictions where economic activity takes place.

The OECD/G20 BEPS Action 13 standard seeks to strengthen tax authorities’ access to information about the global allocation of income, taxes paid and indicators of economic activity within multinational groups.

Government has approved a renewed dispensation for live cattle and meat product exports to help livestock farmers recover from months of disrupted marketing caused by the Foot and Mouth Disease (FMD) outbreak.

The arrangement, announced by Minister of Lands and Agriculture Dr. Edwin Dikoloti at a media engagement at Grand Aria this week, is intended to help farmers sell accumulated livestock, improve cash flow and meet their financial obligations while supporting the management of the disease.

Under the new dispensation, live cattle exports will be permitted for six months and restricted to slaughter-ready steers, while meat and meat product exports will be allowed for 12 months.

Dikoloti said the initiative would provide additional marketing opportunities for eligible farmers and businesses following prolonged movement restrictions that had affected normal livestock trading.

The new arrangement introduces safeguards intended to ensure wider participation and prevent a disproportionate concentration of export opportunities among a small number of traders.

Each farmer or livestock buyer will be limited to a single export permit, while the live cattle export levy will increase from P30 to P300 per head. The domestic slaughter levy will remain at P30 per head until the domestic market stabilises sufficiently for a formal review.

Meat exports under the dispensation will be restricted to citizens and citizen-owned companies.

The previous live cattle export arrangement, introduced in 2019 as a temporary measure, was renewed four times over six years before ending on April 30, 2025. During its operation, local producers exported more than 551,570 cattle, primarily to South Africa and Namibia.

However, Dikoloti said the benefits had not been distributed evenly, with a relatively small number of participants capturing a disproportionate share of the opportunities.

The revised arrangement is therefore intended to promote inclusivity, citizen empowerment and fairer access to export markets.

The Minister said the dispensation would also support disease management by facilitating the reduction of livestock numbers where appropriate and subject to veterinary requirements, potentially reducing the need for costly and rigorous testing to establish infection clearance.

In another development offering relief to producers, the Botswana Meat Commission (BMC) has commenced slaughtering cattle from fenced farms and quarantines within the containment zone.

Approximately 1,000 cattle had been processed by the time of Dikoloti’s address, providing an alternative marketing channel for eligible farmers while restrictions remain in place.

Individual livestock slaughter will also be permitted across all zones, subject to conditions determined by the prevailing disease situation in each area.

Dikoloti said the opportunities for economic recovery were emerging alongside progress in the national disease-control programme, which has required substantial public expenditure and extensive vaccination campaigns.

Government has redirected approximately P97 million towards FMD control since the outbreak began in January 2026.

The Minister also praised the Botswana Vaccine Institute (BVI) for maintaining vaccine supplies amid unprecedented regional outbreaks and surging demand.

As of October 9, 2026, BVI had supplied 4,852,484 doses of FMD vaccine for the 2026/27 financial year, demonstrating its capacity to fulfil contractual obligations while supporting disease-control efforts in Botswana and other countries.

Botswana received 948,000 doses, while Zambia received 1,638,854 and Namibia 1,283,000. Zimbabwe received 373,000 doses, with Eswatini and Mozambique each receiving 300,000. Mauritius received 6,000 doses and Kenya 3,630.

Dikoloti described the country’s locally produced FMD vaccine as a major scientific achievement, saying the outbreak had highlighted the importance of Botswana’s veterinary expertise and vaccine production capacity.

He said Government’s response would continue to be guided by veterinary evidence, the public interest and the long-term sustainability of the livestock industry.

While acknowledging the financial pressure experienced by farmers, the Minister called for continued compliance with movement restrictions, vaccination requirements and biosecurity measures to protect the gains made in containing the disease.

Dikoloti said the renewed export dispensation, alongside BMC slaughtering operations and continued vaccination, is part of Government’s efforts to restore livestock marketing opportunities while safeguarding the national herd.

He said the ultimate objective remained to protect livestock, restore markets, strengthen farmers and secure the future.