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<p>The U.S-Africa Business Summit 2023 gathers heads of states and government officials from both economic regions to find investment opportunities that can increase trade from Africa to United States. This Focus On special puts the spotlight on Namibia and the key sectors that are open for business&#8230;.</p>


Focus On: Business opportunities in Namibia


<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="547" src="https://cms.cnbcafrica.com/wp-content/uploads/2023/05/5DSIOVXMUFLQ5NBH22D3TKPXYU-820x547.jpg" alt="" class="wp-image-425151" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2023/05/5DSIOVXMUFLQ5NBH22D3TKPXYU-820x547.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2023/05/5DSIOVXMUFLQ5NBH22D3TKPXYU-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2023/05/5DSIOVXMUFLQ5NBH22D3TKPXYU-135x90.jpg 135w, https://cms.cnbcafrica.com/wp-content/uploads/2023/05/5DSIOVXMUFLQ5NBH22D3TKPXYU-768x512.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2023/05/5DSIOVXMUFLQ5NBH22D3TKPXYU-1536x1024.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2023/05/5DSIOVXMUFLQ5NBH22D3TKPXYU-scaled.jpg 2048w" sizes="(max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">FILE PHOTO: President of the Republic of Botswana, Mokgweetsi Eric Keabetswe Masisi, speaks prior to the official talks with the delegation members of Switzerland and Botswana, in Bern, Switzerland, May 1, 2023.   Peter Klaunzer/Keystone/Pool via REUTERS/</figcaption></figure>



<p>Botswana’s President Mokgweetsi Masisi says he told negotiators of Anglo American unit De Beers to walk if they didn’t like the terms of the revised mining partnership with Africa’s largest diamond producer in tough talks that were concluded earlier this month.</p>



<p>The parties eventually agreed to extend their 54-year sales partnership by 10 years with De Beers, the world’s largest diamond company, getting a 25-year mining license. Botswana got 30 percent of all output and will receive half in the last year of the agreement versus 25 percent in the previous deal.</p>



<p>&#8220;We had to rebalance this and so I looked at them in the eye and said we are not doing this anymore. It stops here,’’ Masisi told CNBC Africa at last week’s U.S.-Africa Business Summit in the capital Gaborone. &#8220;I told them we don’t want the deal we have. We are going to have a new deal.’’</p>



<p>Diamond prices dropped more than 6 percent in the first half of the year, amid competition from the synthetic diamonds industry and sluggish global demand.</p>



<p>De Beers CEO, Al Cook, told Reuters last week the deal benefitted both parties.</p>



<p>President Masisi said De Beers would also contribute up to $750 million over the next decade to help fund efforts to diversify Botswana’s economy from diamonds which currently contribute20 percent of the nation’s gross domestic product and two thirds of foreign exchange earnings.</p>



<p>&#8220;We have committed to a knowledge economy. We have committed to create wealth using our intellectual capital. We have learnt about marketing enough. We know where the markets are. We know what the potential is, and we are going to want a part of it,’’ Masisi said. &#8220;Poor souls they didn’t have a choice. Now we are in the control seat.’’</p>



<p>Calling for beneficiation of Africa’s raw materials, Masisi said the continent through the Africa Continental Free Trade Agreement (AfCFTA) wanted to change the way it traded with the rest of the world and within its borders.</p>



<p>&#8220;Africa doesn’t want to participate as it has been traditionally known to participate by generating raw materials and exporting them raw. Africa does not want to do business like it was known to do by exporting out of Africa more than it exported among the countries in Africa,’’ he said. &#8220;We are in the business of value adding. We are in the business of intra-Africa trade and Botswana is a keen player at that. ‘’</p>



<p>The 54-member AfCFTA seeks to boost incomes by $450 billion by 2035, potentially pulling as many as 40 million people out of poverty. To date, 46 of the Africa Union’s (AU) 54 members have ratified it. The AU says the agreement will eliminate trade barriers and boost intra African trade by pushing trade in value added products across the continent.</p>


FILE PHOTO: Botswana’s President Masisi visits Switzerland

Botswana President Says He was Ready to Walk Away from Anglo’s De Beers

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<p>Africa Business Weekly on CNBC Africa brings you the most impactful business stories across sub-Saharan Africa every week. From the capital markets to economic news affecting the regions from East, West ad Southern Africa, we will speak to the major newsmakers from across the sub-Saharan Africa region to get exciting and unique angles to the stories shaping the continent&#8230;.</p>


Africa Business Weekly: Why investment is key to propel Africa’s development

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<p>The U.S.-Africa Business Summit 2023 came to a close in Gaborone, Botswana on Friday. Speaking at the Closing Ceremony were Gobusamang Keebine of Business Botswana and John Olajide of Axxess&#8230;.</p>


Focus On: U.S-Africa Business Summit: Closing plenary

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<p>From the U.S.-Africa Business Summit held in Gaborone, Botswana, we put the focus on enhancing Africa&#8217;s value in global value chains and speak to John Olijade, CEO of Axxess and Sanjeev Gupta of the Africa Finance Corporation&#8230;.</p>


Focus On: U.S-Africa Business Summit: Advancing bankable infrastructure projects in Africa

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<p>From the U.S.-Africa Business Summit held in Gaborone, Botswana, we put the focus on enhancing Africa&#8217;s value in global value chains and speak to Farouk Gumel about the role of manufacturing and to Zwelethu Bashman about the role of the pharmaceutical sector&#8230;.</p>


Focus On: U.S-Africa Business Summit: Enhancing Africa’s value in global value chains

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<p>Traders at Access Bank say the T-bills market remains awash with offers on long dated papers with few bids to match. For the bond market, some interest is seen on the long end of the curve as local players seek to buy 2049 and 2050 maturities at 14.25 per cent levels. Kolawole Komolafe, Treasury Team Member at Access Bank joins CNBC Africa for more market updates&#8230;.</p>


T-Bills awash with long-dated offers

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<p>Meristem Securities say an improved performance of the non-oil sector, especially in the manufacturing and agricultural sectors will be instrumental to a 2.9 per cent GDP growth for this year. In its half year outlook, Meristem maintains that inflation will sustain the upward trajectory for the rest of the year. Damilare Ojo, Head, Investment Research at Meristem, joins CNBC Africa to unpack this report&#8230;.</p>


Meristem: Non-oil sector to spur Nigeria’s H2’23 growth

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<p>The Nigerian bond market witnessed mixed sentiments this week on the back of increased demand on long-dated instruments. However, the market awaits next week&#8217;s bond auction where 360 billion naira will be on offer across four maturities. Chuka Nwachukwu, Head of ALM and Balance Sheet Management at UBA, joins CNBC Africa for a market discussion&#8230;.</p>


Investors position ahead of bond auction on Monday

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<p>The 11th All Africa Business Leaders Awards was held at Sun City in the North West Province recently. The AABLA celebrates the best in African leadership &#8211; individuals whose core values include strength, innovation, ingenuity, perseverance, knowledge and foresight. Join us for this highlight special on the event and meet the nominees and winners as we celebrate their achievements&#8230;.</p>


11th All Africa Business Leaders Awards: Highlights Special

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<p>Deliberate investments in the mining sector combined with robust policy implementation is slowly but surely converting Rwandan mines from artisanal to modern. And, with a range of refineries in the nation, Rwanda is set to become a value adding hub in Africa, setting a new standard for the industry and reclaiming Africa&#8217;s mining story&#8230;.</p>


Invest Rwanda EP7: Mines to markets

Invest Rwanda: Mines to markets

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<p>The US-Africa Business Summit is taking place in Botswana until the 14th of July. The theme for the Summit is Enhancing Africa&#8217;s Value in Global Value Chains. This is the Opening Ceremony and Scene-Setting Plenary&#8230;.</p>


US-Africa Business Summit 2023: Opening Ceremony

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<p>The Debt Management Office is conducting a T-bills auction of 141.7 billion naira today. Traders at Access bank say the market will remain quiet as market participants shift their attention towards the auction and await its outcome. Franklin Ebomah, Treasury Team Member at Access Bank joins CNBC Africa for more&#8230;.</p>


Investors focus on ₦141.7bn T-bills auction

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<p>Traders at UBA say they expect a quiet treasury bills market as investors set their sights on the 141.7-billion-naira auction today. Chuka Nwachukwu, Head of ALM and Balance Sheet Management at UBA, joins CNBC Africa to give a sense of market sentiments today&#8230;.</p>


UBA: Primary auction to drive quiet T-bills market

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<p>The Role of Insurance in the Economy brings key voices from the industry to discuss external forces the influences this sector.  In this episode we look at how farmers can protect their produce and crops while competing against adverse weather conditions&#8230;.</p>


The Role of Insurance: Crop insurance in the agricultural sector

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<p>From the streets in Alexandra to one of the most populous cities in the United Arab Emirates, the guest on Focus On Bathu Shoes made his journey with a pair of shoes that tells the African story the best way he knows how. Featured in the Forbes Under 30 list in 2019 and an All Africa Business Leader Awards laureate, Theo Baloyi walks us through his path to success&#8230;.</p>


Focus On: Bathu CEO & Founder Theo Baloyi shares his entrepreneurial journey

Focus On: Bathu Shoes CEO & Founder Theo Baloyi shares his entrepreneurial journey

<p><iframe loading="lazy" src="https://www.youtube.com/embed/5d_Zt7KdOBA" width="640" height="360" frameborder="0" allowfullscreen="allowfullscreen"></iframe></p>
<p>The Nigerian bond market sustained the bullish momentum despite sell pressure in long dated bonds. Emmanuel Odiaka, the CEO of Ecob Capital, joins CNBC Africa for this discussion&#8230;.</p>


CNBC Africa

Focus On: Business opportunities in Namibia

Botswana President Says He was Ready to Walk Away from Anglo’s De Beers

Africa Business Weekly: Why investment is key to propel Africa’s development

Focus On: U.S-Africa Business Summit: Closing plenary

Focus On: U.S-Africa Business Summit: Advancing bankable infrastructure projects in Africa

Focus On: U.S-Africa Business Summit: Enhancing Africa’s value in global value chains

T-Bills awash with long-dated offers

Meristem: Non-oil sector to spur Nigeria’s H2’23 growth

Investors position ahead of bond auction on Monday

11th All Africa Business Leaders Awards: Highlights Special

Invest Rwanda: Mines to markets

US-Africa Business Summit 2023: Opening Ceremony

Investors focus on ₦141.7bn T-bills auction

UBA: Primary auction to drive quiet T-bills market

The Role of Insurance: Crop insurance in the agricultural sector

Focus On: Bathu Shoes CEO & Founder Theo Baloyi shares his entrepreneurial journey

Bonds bullish amid sell pressure

News Tips

Advertise With Us

CNBC Africa

Focus On: Business opportunities in Namibia

Botswana President Says He was Ready to Walk Away from Anglo’s De Beers

Africa Business Weekly: Why investment is key to propel Africa’s development

Focus On: U.S-Africa Business Summit: Closing plenary

Focus On: U.S-Africa Business Summit: Advancing bankable infrastructure projects in Africa

Focus On: U.S-Africa Business Summit: Enhancing Africa’s value in global value chains

T-Bills awash with long-dated offers

Meristem: Non-oil sector to spur Nigeria’s H2’23 growth

Investors position ahead of bond auction on Monday

11th All Africa Business Leaders Awards: Highlights Special

Invest Rwanda: Mines to markets

US-Africa Business Summit 2023: Opening Ceremony

Investors focus on ₦141.7bn T-bills auction

UBA: Primary auction to drive quiet T-bills market

The Role of Insurance: Crop insurance in the agricultural sector

Focus On: Bathu Shoes CEO & Founder Theo Baloyi shares his entrepreneurial journey

Bonds bullish amid sell pressure

News Tips

Advertise With Us

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