<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="5000" height="3338" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/11/FICYWLXYY5O65HYMVPAS2YUHJ4-reuters.avif" alt="" class="wp-image-558451"/><figcaption class="wp-element-caption">SWAPO presidential candidate Netumbo Nandi-Ndaitwah attends a rally ahead of the upcoming elections in Windhoek, Namibia , November 24, 2024. REUTERS/Noah Tjijenda</figcaption></figure>



WINDHOEK, Nov 25 (Reuters)&nbsp;&#8211;&nbsp;Namibians will vote on Wednesday in what is expected to be the most competitive election yet for the ruling SWAPO party, which has governed the southern African nation for 34 years.



If SWAPO candidate Netumbo Nandi-Ndaitwah wins, she will become the country&#8217;s first female president. A SWAPO loss would mean the first transition of power to a new party since Namibia gained independence from apartheid South Africa in 1990.



High unemployment, corruption allegations and inequality have eroded SWAPO&#8217;s support, which fell to 56% in the 2019 presidential election from 87% in 2014. There are no reliable polls on how it might fare this time.



The frontrunner among 14 opposition candidates is Panduleni Itula, a former dentist who won 29% of votes in 2019 after splitting from SWAPO and now leads a new political party, the Independent Patriots for Change.



Namibians vote separately for members of parliament and for the president, who needs more than 50% of votes to win.



&#8220;This will be the most challenging and significant election after the first one of 1989,&#8221; Rui Tyitende, a lecturer at the University of Namibia, said.



He said the outcome would largely hinge on the turnout of young voters, who make up more than half the electorate and are more likely to back the opposition.



&#8220;Young people are disproportionately affected by unemployment, poverty and consumed with a deep sense of hopelessness,&#8221; Tyitende said.



&#8220;If they do not pitch, SWAPO will win.&#8221;



<h2 class="wp-block-heading" id="h-independence-era-parties-challenged">INDEPENDENCE-ERA PARTIES CHALLENGED</h2>



Namibia is currently led by interim president Nangolo Mbumba, who took over in February after the death of former president Hage Geingob but is not contesting the election.



Namibia is an upper-middle-income country but has high levels of poverty and inequality, according to the World Bank.



A 2021 government report found that 43% of the population were living in &#8220;multidimensional poverty&#8221;, a measure that takes into account income as well as access to education and public services among other factors.



Namibia ranks second in the world for income inequality after neighbouring South Africa, World Bank figures show. Both countries spent decades under white minority rule.



SWAPO has struggled to distance itself from corruption scandals, although Nandi-Ndaitwah has never been implicated. Two former ministers are still on trial in the &#8220;fishrot&#8221; case, a major bribery scandal that surfaced in 2019.



&#8220;There is a possibility that the ruling party SWAPO could face a fate similar to the ANC in South Africa or the BDP in Botswana,&#8221; political analyst Ndumba Kamwanyah said.



South Africa&#8217;s African National Congress (ANC) lost its parliamentary majority in May and was forced into a coalition after 30 years in power, while the Botswana Democratic Party (BDP) lost an October election which ended its 58-year rule.



Across southern Africa, independence-era parties are contending with a younger population that does not remember the liberation struggle and is more likely to judge them on their record of service delivery and job creation, analysts say.



On SWAPO&#8217;s side are its deep roots in rural areas, well-established party machinery and the legacy of its fight against apartheid which still resonates with some voters, Kamwanyah said.



Election observers have generally said past polls in Namibia were fair and credible.



(Additional reporting and writing by Nellie Peyton, Editing by Olivia Kumwenda-Mtambo and Andrew Heavens)

FICYWLXYY5O65HYMVPAS2YUHJ4 reuters

Namibia to vote in toughest election yet for ruling party

<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="5000" height="3454" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/11/Q6WVUVN6WZNWTDJRVRCBW4TRQI.avif" alt="" class="wp-image-558403"/><figcaption class="wp-element-caption">Zimbabwe&#8217;s President Emmerson Mnangagwa delivers his State of the Nation address at the State House in Harare, Zimbabwe, April 3,2024.REUTERS/Philimon Bulawayo/File Photo</figcaption></figure>



HARARE, Nov 25 (Reuters)&nbsp;&#8211;&nbsp;Zimbabwe&#8217;s president hosted creditors and finance executives on Monday to discuss ambitious goals to clear debt arrears and restructure $12.7 billion in external debt, as the country aims to eventually tap international capital markets for the first time in more than two decades.



The Southern African nation&#8217;s debt pile accounts for 81% of gross domestic product, and clearing it will be a tough challenge for a country that has faced numerous financial crises in recent decades, from repeated bouts of hyperinflation to multiple unsuccessful attempts to launch new currency regimes.



President Emmerson Mnangagwa told the conference that Zimbabwe is negotiating a Staff Monitored Program (SMP) with the International Monetary Fund.



Securing an SMP would set the stage for required policy reforms, African Development Bank (AfDB) President Akinwumi Adesina told the conference.



&#8220;That is the key,&#8221; he said, adding that AfDB stood ready to offer financial support to cushion Zimbabwe&#8217;s economy against potential adverse effects of reforms.



Adesina said the AfDB also had money available from a special fund to help settle Zimbabwe&#8217;s arrears. He did not provide any figures.



Finance Minister Mthuli Ncube said timelines would become clear by mid-2025, once Zimbabwe secured bridge financing commitments from lenders to help clear the arrears.



Analysts say paying off arrears is essential for an economy that currently cannot even access money from the IMF &#8211; the lender of last resort.



&#8220;The issue of arrears is a major albatross around our neck,&#8221; said Prosper Chitambara, a Harare-based independent economist.



&#8220;Once the arrears are cleared it will be cheaper to borrow and easier to attract investment.&#8221;



<h2 class="wp-block-heading" id="h-unsustainable-situation">UNSUSTAINABLE SITUATION</h2>



Getting on track with bilateral creditors – and clearing arrears with the AfDB, the World Bank and the European Investment Bank – is necessary to unlock funding for Zimbabwe, once a regional breadbasket that now struggles to feed its own people.



&#8220;The IMF is currently precluded from providing financial support to Zimbabwe&#8221; due to an unsustainable debt situation and external arrears, an IMF spokesperson said.



The IMF SMP that Zimbabwe is targeting does not include financial assistance or require approval by the Fund&#8217;s executive board.



But government officials say it would help Zimbabwe demonstrate a return to sound economic policies. The government already missed its initial goal to have an SMP in place by April, as well as a second deadline last month.



This has limited IMF engagement to technical assistance, such as budget preparation.



<h2 class="wp-block-heading" id="h-debt-and-default">DEBT AND DEFAULT</h2>



The United Nations estimates 24 out of Africa&#8217;s 35 low-income countries are at high risk of debt distress, and since 2020, Zambia and Chad have finalised debt reworks. Ghana is wrapping up its own debt rework and Ethiopia is in the midst of a restructuring.



But Zimbabwe is no ordinary default. While 45% of its burden is outstanding debt, the rest is arrears and penalties, according to a 2023 government presentation.



The Africa Legal Support, an AfDB facility that helps countries deal with debt distress, is paying for two firms &#8211; the Global Sovereign Advisory Company and law firm Kepler-Karst &#8211; to help advise the government, Ncube said ahead of the conference.



Zimbabwe has only been paying token amounts to debtors, including 16 bilateral creditors, Ncube said, but gave no further details.



(Reporting by Nyasha Chingono and Duncan Miriri; Editing by Libby George and Susan Fenton)

Q6WVUVN6WZNWTDJRVRCBW4TRQI

Zimbabwe charts ambitious return to global finance at debt conference

<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="5000" height="3495" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/11/PE4FFKBGVRIG3KXAM2ILG5AFKU.avif" alt="" class="wp-image-556585"/><figcaption class="wp-element-caption">Namibia&#8217;s newly appointed President Nangolo Mbumba and his wife, Sustjie Mbumba embrace each other, following the death of Hage Geingob, in Windhoek, Namibia, February 4, 2024. REUTERS/Sharon Kavhu</figcaption></figure>



JOHANNESBURG, Nov 20 (Reuters) &#8211; Namibians are set to vote for a new president and parliament on Nov. 27, after Hage Geingob died and was replaced as president on a interim basis by his deputy, Nangolo Mbumba.



The election could mark a historic shift in the country&#8217;s political landscape if the ruling SWAPO party, in power since independence in 1990, loses control of the presidency or parliament for the first time.



The president is directly elected by voters and needs to garner more than 50% of votes to win. Support for SWAPO dropped from 87% in the presidential election in 2014 to 56% in 2019.



Here are the main candidates running for president:



<h2 class="wp-block-heading" id="h-netumbo-nandi-ndaitwah">NETUMBO NANDI-NDAITWAH</h2>



Vice President Netumbo Nandi-Ndaitwah, 72, is also vice president of SWAPO and the party&#8217;s first female presidential candidate.



She joined SWAPO in the 1960s when the party fought for Namibia&#8217;s independence from apartheid South Africa. She served as SWAPO&#8217;s representative in central and eastern Africa after going into exile along with numerous party leaders.



After studying diplomacy in England, she returned to Namibia and has held various senior roles in SWAPO and government, including serving as a minister in portfolios of international relations, environment, and women&#8217;s affairs and child welfare.



<h2 class="wp-block-heading" id="h-panduleni-itula">PANDULENI ITULA</h2>



Panduleni Itula is a 67-year-old politician who secured 29% of the presidential vote as an independent candidate in 2019 &#8212; the best any challenger has done against SWAPO.



He has since formed a new political party, the Independent Patriots for Change (IPC), which champions grassroots participatory democracy and anti-corruption. IPC also plans to contest parliamentary seats.



Itula was a SWAPO party youth leader during the fight for independence and was imprisoned by the apartheid regime. Post-release, he moved to England where he studied and practised as a dentist for over three decades before returning to Namibia in 2013.



<h2 class="wp-block-heading" id="h-mchenry-venaani">MCHENRY VENAANI</h2>



McHenry Venaani is leader of Namibia&#8217;s largest opposition party in parliament, the Popular Democratic Movement (PDM), which holds 16 out of 96 elected seats.



Venaani, 47, studied law and became the country&#8217;s youngest member of parliament in 2003.



Despite the PDM strengthening its parliamentary presence in the 2019 election, Venaani came a distant third in the presidential race with only 5% of votes.



<h2 class="wp-block-heading" id="h-bernadus-swartbooi">BERNADUS SWARTBOOI</h2>



Bernadus Swartbooi, 47, is the leader of the Landless People&#8217;s Movement (LPM), a progressive party advocating for land redistribution and restorative justice.



Swartbooi founded the LPM in 2017 after losing his job as deputy minister of land reform and leaving SWAPO.



LPM has four seats in parliament. Swartbooi won 3% of votes in the 2019 presidential election.



<h2 class="wp-block-heading" id="h-job-amupanda">JOB AMUPANDA</h2>



Job Amupanda, 37, is a former SWAPO youth leader who fell out with the party and founded a leftist political movement called Affirmative Repositioning in 2014.



Like the LPM, the party focuses on land reform and redistribution of foreign-owned land.



Amupanda served as mayor of the capital, Windhoek, in 2021. He is also an associate professor of political science at the University of Namibia.



(Reporting by Nellie Peyton; Additional reporting by Nyasha Nyaungwa; Editing by Olivia Kumwenda-Mtambo and Alison Williams)

PE4FFKBGVRIG3KXAM2ILG5AFKU

Main candidates in Namibia’s presidential election

<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="1920" height="1245" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/11/2J47EZ5UQBJOFPUZZQP3HAKCPE.avif" alt="" class="wp-image-554692"/><figcaption class="wp-element-caption">Protesters run from police during a &#8220;national shutdown&#8221; against the election outcome, at Luis Cabral township in Maputo, Mozambique, November 7. REUTERS/Siphiwe Sibeko</figcaption></figure>



MAPUTO, Nov 15 (Thomson Reuters Foundation)&nbsp;&#8211;&nbsp;Uber driver Rofino Fiel said the post-election protests that have convulsed Mozambique for weeks have been disastrous not only because of the running battles on the streets of Maputo &#8211; internet shutdowns are bleeding his business dry.



Like many working in small and medium-sized businesses, often in the informal sector, successive blackouts have cost him dear and there is little relief in sight as the protests over allegations of vote-rigging look set to continue.



&#8220;This is too much. We are having a very negative experience and per week it costs us a loss of 8,000 meticais ($126),&#8221; the 25-year-old told the Thomson Reuters Foundation.



&#8220;Our activity has come to a complete halt.&#8221;



Protests have escalated since election authorities said the Frelimo party had won the Oct. 9 vote with a landslide victory, extending its 49-year rule. More than 56% of Mozambique&#8217;s 17 million eligible voters abstained.



The results have been widely disputed, fuelling clashes between the police and protesters which rights groups and local hospitals say have killed at least 30 people. Many young people supported independent candidate Venancio Mondlane, who says the vote was rigged and has encouraged demonstrations.



Amnesty International has condemned the government&#8217;s &#8220;violent and widespread crackdown on human rights&#8221;, saying it is the worst suppression of protests in the country in years.



Civil society groups and international observers said the vote did not meet democratic standards, and the Constitutional Council has requested clarification from the electoral commission on discrepancies in the vote count.



Digital rights groups say that there have been at least five mobile internet shutdowns since Oct. 25, alongside social media shutdowns lasting several hours.



According to the constitution, the government can force mobile phone operators to shut down internet services in cases of national emergency but the government has not declared the current unrest a national emergency.



The #KeepItOn coalition, a global network of over 334 human rights organisations working to end internet shutdowns, urged Mozambique&#8217;s authorities to end the increasing use of shutdowns.



&#8220;Mozambican authorities&#8217; regular practice of shutting down the internet around elections and in times of political unrest must not be allowed to continue,&#8221; the coalition said in a statement on Nov. 7.



Mateus Magala, minister of transport and communications, said the recurrent internet restrictions were aimed at preventing the destruction of the country.



&#8220;When we see violations that jeopardise the integrity of all Mozambicans in the nation we have to act as such, so that our means of communication are not used for the destruction of the country,&#8221; he said on Sunday.



For Edson Chiado, who manages a real estate business in the centre of Maputo, the shutdowns are hurting his livelihood.



&#8220;I need the internet to work and make sales and, as it is, many things are at a standstill,&#8221; said the 34-year-old,&nbsp;who has worked in the property sector for 10 years.



&#8220;You always have to separate the internet, which is key to our economic life, from political matters.&#8221;



LOST CLIENTS



The shutdowns have affected a wide range of professionals from financial market operators, or traders, to website programmers, who generally work remotely.



A trader who asked to remain anonymous due to safety concerns said the internet outages had cost him as much as $100 dollars a day in recent weeks.



Americo Marime, owner of a tech start-up that does network analysis, management systems programming, and web page monitoring, said there were days when he was unable to meet deadlines and ended up losing some clients.



He said some of the web pages he monitors also suffered routine failures and he was unable to fix them.



&#8220;Even clients, some of whom are outside Mozambique, couldn&#8217;t contact me to report the problem &#8230; So, in short, the internet blockage stopped programmers&#8217; work,&#8221; said Marime.



Some people have tried to use Virtual Private Networks (VPN) or free WiFi to keep their businesses going but connection was very slow and there are only three places in Maputo where free WiFi is available.



Celio Lazaro, an activist who works on social justice and economic inclusion, said mobile phone operators should be held criminally responsible &#8220;for contributing to the limitation of citizens&#8217; rights&#8221;, as well as jeopardising the livelihoods of those who depend on the internet to work.



The country&#8217;s three mobile phone operators &#8211; South Africa&#8217;s Vodacom, and Mozambique&#8217;s Tmcel and Movitel &#8211; have sent messages to users saying the outages were beyond their control. When contacted by the Thomson Reuters Foundation, Vodacom and Movitel declined to comment while Tmcel did not immediately reply to a request for a comment.



&#8220;This (the blocking of the internet) is not helping to end the protests, but rather is intensifying popular dissatisfaction,&#8221; Lazaro told journalists on Monday during a press conference in Beira, in central Mozambique.



Even as internet services are gradually being restored, Mondlane has called for a new round of demonstrations across the country, meaning there could be more economic pain in a country where around 65% of the population live in poverty.



The president of the Confederation of Economic Associations of Mozambique, Agostinho Vuma, said he was aware of the negative impact that the internet shutdowns were having on small businesses.



&#8220;There&#8217;s nothing we can do about it, but the situation does affect us,&#8221; he said.



($1 = 63.2700 meticais)



(Reporting by Samuel Come; Editing by Clar Ni Chonghaile and Ana Nicolaci da Costa.&nbsp;

2J47EZ5UQBJOFPUZZQP3HAKCPE

Internet cuts after Mozambique’s disputed vote hit businesses

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="547" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/11/GettyImages-1569339526-820x547.jpg" alt="" class="wp-image-550863" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/11/GettyImages-1569339526-820x547.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/11/GettyImages-1569339526-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/11/GettyImages-1569339526-135x90.jpg 135w, https://cms.cnbcafrica.com/wp-content/uploads/2024/11/GettyImages-1569339526-768x512.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2024/11/GettyImages-1569339526-1536x1024.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2024/11/GettyImages-1569339526-scaled.jpg 2048w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">A line of trucks along the N4 national highway, wait to cross South Africa&#8217;s border into Mozambique, on the outskirts of Komatipoort, South Africa, on Friday, July 14, 2023. An often impenetrable logjam of trucks laden with coal at South Africa&#8217;s crossing with Mozambique has brought chaos to the sleepy border town Komatipoort. Photographer: Leon Sadiki/Bloomberg via Getty Images</figcaption></figure>



JOHANNESBURG, Nov 6 (Reuters) &#8211; South Africa has temporarily closed its main border crossing with Mozambique over safety concerns, its government news agency said on Wednesday, as protests against last month&#8217;s disputed election in Mozambique continue to escalate.



South Africa has closed the Lebombo port of entry in its Mpumalanga province after receiving reports of vehicles being torched on the Mozambican side, the government news agency said.



&#8220;Due to these security incidents and in the interest of public safety, the port has been temporarily closed until further notice,&#8221; it quoted Michael Masiapato, the commissioner of the Border Management Authority as saying on Tuesday night.



Masiapato said the border authority would reopen the Lebombo crossing as soon as it was safe to do so.



The latest protests in Mozambique are part of a week of demonstrations called by presidential candidate Venancio Mondlane, who came second in official results for the Oct. 9 election but claims to have won.



The protests are set to culminate in a &#8220;national shutdown&#8221; and march on the capital Maputo on Thursday.



At least 10 people have been killed and scores injured in protests in which demonstrators have burned tires, blocked roads and marched to offices of the ruling party, Frelimo. Authorities have responded with tear gas and live ammunition, according to human rights groups, and restricted access to the internet.



The electoral commission has declined to comment on opposition allegations of fraud, while Frelimo has not replied to requests for comment.



(Reporting by Bhargav Acharya and Sisipho Skweyiya in Johannesburg and Manuel Mucari in Maputo; Editing by Alexander Winning and Ros Russell)

Global Demand for Coal Is Bringing Mayhem to South African Border Town

South Africa closes main border with Mozambique as post-election protests escalate

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="547" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/11/ADDMXWU7SBNXBLLKVIVC7QKI2I-820x547.jpg" alt="" class="wp-image-550050" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/11/ADDMXWU7SBNXBLLKVIVC7QKI2I-820x547.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/11/ADDMXWU7SBNXBLLKVIVC7QKI2I-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/11/ADDMXWU7SBNXBLLKVIVC7QKI2I-135x90.jpg 135w, https://cms.cnbcafrica.com/wp-content/uploads/2024/11/ADDMXWU7SBNXBLLKVIVC7QKI2I-768x512.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2024/11/ADDMXWU7SBNXBLLKVIVC7QKI2I-1536x1024.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2024/11/ADDMXWU7SBNXBLLKVIVC7QKI2I-scaled.jpg 2048w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">Botswana opposition leader Duma Boko smiles, after his party UDC won the general election, outside his home in Gaborone, Botswana November 1, 2024 REUTERS/Thalefang Charles</figcaption></figure>



GABORONE, Nov 1 (Reuters) &#8211; Botswana&#8217;s new president, Duma Boko, said on Friday he wanted to conclude talks for a new sales pact with global diamonds giant De Beers as soon as possible.



De Beers, a unit of mining company Anglo American&nbsp;AAL.L, last year agreed a new diamond sales pact, which would see the government&#8217;s share of diamonds from the Debswana joint venture gradually increase to 50% over the next decade. Debswana Diamond Company, equally owned by Botswana and De Beers, currently sells 75% of its output to De Beers.



Although the Botswana government and the country&#8217;s outgoing president, Mokgweetsi Masisi, touted the merits of the deal, it has yet to be signed.



Boko, who took office on Friday after an election that dealt a stinging defeat to Masisi&#8217;s party, said De Beers had been &#8220;considering walking away, not signing at all &#8230; (a) very dangerous position to be in as a country.&#8221;



&#8220;The relationship with De Beers could have been damaged by the way the negotiations were handled,&#8221; he said in a televised statement. &#8220;The first thing that needs to be done is to engage the other party.&#8221;



Boko added that his new administration wants to engage with De Beers to understand its concerns.



&#8220;A proper negotiation involves compromise, where you get a bit of what you wanted, the other person gets a bit,&#8221; he said. &#8220;Then &#8230; you have a durable, sustainable agreement.&#8221;



In an emailed comment, a De Beers spokesperson said: &#8220;We will continue to work with Botswana&#8217;s Government in support of shared objectives, as we always have.&#8221;



Anglo American is looking to divest De Beers as part of a broader restructuring of its sprawling business. Masisi had said in July the Botswana government may raise its shareholding in De Beers from its current 15%.



Anglo American&#8217;s process could become easier now that the election in Botswana has been concluded, diamond mining industry analyst Paul Zimnisky said.



&#8220;Diamonds by far represent the most important industry for Botswana, so this has to be one of the front and centre issues for the (new) president,&#8221; Zimnisky said. &#8220;I would expect to see progress on this front now.&#8221;



Like other luxury goods, diamond prices have been hammered by a slump in global demand. Sales of rough diamonds at Debswana fell about 52% in the first nine months of 2024, according to data released by Botswana&#8217;s central bank on Tuesday.



(Reporting by Brian Benza in Gaborone, Felix Njini in Johannesburg, Clara Denina in LondonEditing by Mark Potter, Ros Russell and Frances Kerry)

Botswana opposition leader Duma Boko

Botswana’s new president aims to clinch De Beers diamond sales pact soon

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="547" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/11/M7TCAQPVXRPFFGPEYDQ3ZMQKT4-820x547.jpg" alt="" class="wp-image-548965" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/11/M7TCAQPVXRPFFGPEYDQ3ZMQKT4-820x547.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/11/M7TCAQPVXRPFFGPEYDQ3ZMQKT4-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/11/M7TCAQPVXRPFFGPEYDQ3ZMQKT4-135x90.jpg 135w, https://cms.cnbcafrica.com/wp-content/uploads/2024/11/M7TCAQPVXRPFFGPEYDQ3ZMQKT4-768x512.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2024/11/M7TCAQPVXRPFFGPEYDQ3ZMQKT4-1536x1025.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2024/11/M7TCAQPVXRPFFGPEYDQ3ZMQKT4-scaled.jpg 2048w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">People wait to cast their votes in the 2024 general elections in Morwa village near Gaborone, Botswana October 30, 2024. REUTERS/Thalefang Charles</figcaption></figure>



GABORONE, Nov 1 (Reuters) &#8211; Botswana&#8217;s voters delivered a shock defeat to the party that has ruled them for nearly six decades, registering their anger over economic stagnation linked to a decline in the diamond trade by handing victory to opposition presidential candidate Duma Boko.



The 54-year-old, of the Umbrella for Democratic Change (UDC) coalition, will replace President Mokgweetsi Masisi, who on Friday conceded defeat after his Botswana Democratic Party (BDP) lost by a landslide for the first time in 58 years.



&#8220;From tomorrow&#8230; I will start the process of handover,&#8221; Masisi said in an audio clip of his phone call to Boko, which the outgoing leader posted on social media, signalling a smooth power transition.



&#8220;You can count on me to always be there to provide whatever guidance you might want &#8230; We will retreat to being a loyal opposition.&#8221;



Boko has yet to speak publicly on the outcome. Chief Justice Terence Rannowane officially declared him the victor: &#8220;I have the honour and privilege to declare him as elected president of Botswana. I congratulate you profoundly for the confidence that the people have shown in you.&#8221;



Analysts blamed mounting economic grievances, particularly among young people, for the downfall of the BDP, which has governed the southern African state of around 2.5 million people since independence from Britain in 1966.



Like many African countries, Botswana&#8217;s economy has largely depended on the export of a single commodity &#8211; in its case, diamonds.



Unlike many, its leaders have largely resisted the urge to steal or squander their commodity windfall, instead spending it on health, education and social welfare. Botswana&#8217;s GDP per capita was $7,250 in 2023 &#8211; compared with an average for sub-Saharan Africa of $4,800, World Bank data shows.



But a downturn in the global diamond market caused economic growth to plummet this year to a projected 1%, while unemployment rose to 28%.



Botswana is the world&#8217;s top producer by value of diamonds, and the government owns a 15% stake in diamond giant De Beers, a unit of Anglo American Masisi last year negotiated a bigger share of its raw diamonds with the company.



Boko has not indicated that he would want to change the deal.



<h2 class="wp-block-heading" id="h-nothing-to-offer">&#8216;NOTHING TO OFFER&#8217;</h2>



State television showed that based on results from 55 of 61 constituencies, the UDC had won 32 seats in parliament, one more than it needed for a majority. The largest party chooses the president. The BDP was in last place out of four parties, with only four seats.



&#8220;After 58 years in power (the BDP) didn&#8217;t have anything new to offer,&#8221; said analyst Ringisai Chikohomero of the Pretoria-based Institute for Security Studies.



The UDC, by contrast, put forward ambitious policy proposals, he said. It pledged to more than double the minimum wage, improve social services and create a more independent judiciary, among other measures.



The capital Gaborone was calm on Friday morning, with small groups of opposition supporters celebrating in the streets.



&#8220;I did not ever think I would witness this change in my life,&#8221; 23-year-old student Mpho Mogorosi said. &#8220;The BDP had stayed too long &#8230;&nbsp;and I am proud to be part of the people that removed them.&#8221;



The BDP was the second long-ruling party in southern Africa to lose its majority at the polls this year, after South Africa&#8217;s African National Congress failed to&nbsp;win&nbsp;more than half&nbsp;of&nbsp;votes for the first time in 30 years.



Neighbouring Namibia will hold elections later this month in which the ruling SWAPO party, which has governed since 1990, is also expected to face a stiff challenge.



&#8220;The outcome of Botswana&#8217;s elections should serve as a warning to long-time ruling parties across southern Africa and beyond that without economic progress and employment opportunities, political dominance will falter,&#8221; said Zaynab Hoosen, an Africa analyst at consultancy Pangea-Risk.



(Reporting by Brian Benza; Additional reporting and writing by Nellie Peyton; Editing by Alexander Winning, Tim Cocks and Ros Russell)

Botswana elections

Botswana voters kick out ruling party of nearly six decades

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="519" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/10/YX4EF366PZJ6DATJS63AYICHNE-820x519.jpg" alt="" class="wp-image-548287" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/10/YX4EF366PZJ6DATJS63AYICHNE-820x519.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/10/YX4EF366PZJ6DATJS63AYICHNE-300x190.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/10/YX4EF366PZJ6DATJS63AYICHNE-142x90.jpg 142w, https://cms.cnbcafrica.com/wp-content/uploads/2024/10/YX4EF366PZJ6DATJS63AYICHNE-768x487.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2024/10/YX4EF366PZJ6DATJS63AYICHNE-1536x973.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2024/10/YX4EF366PZJ6DATJS63AYICHNE.jpg 1940w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">People walk past a logo of the Bank of Namibia at the company&#8217;s headquarters in Windhoek, Namibia, February 24, 2017. REUTERS/Siphiwe Sibeko</figcaption></figure>



WINDHOEK, Oct 30 (Reuters)&nbsp;&#8211;&nbsp;Namibia&#8217;s economy is expected to grow 3.6% this year and 5.4% in 2025, its Finance Minister Iipumbu Shiimi said on Wednesday.



In February the finance ministry had estimated growth of 4% in 2024 and 3.9% next year.



&#8220;The revisions stem primarily from expected lower output from the mining and agriculture sectors which have been negatively affected by low global demand for diamonds as well as the ongoing drought,&#8221; Shiimi told parliament in a mid-year budget review speech.



(Reporting by Nyasha Nyaungwa; Writing by Bhargav Acharya; Editing by Alexander Winning)

People walk past a logo of the Bank of Namibia at the company’s headquarters in Windhoek

Namibia lowers economic growth forecast for 2024

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="519" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/10/Q4QLBJ76NFICPHLWXFISVW2TCA-820x519.jpg" alt="" class="wp-image-548213" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/10/Q4QLBJ76NFICPHLWXFISVW2TCA-820x519.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/10/Q4QLBJ76NFICPHLWXFISVW2TCA-300x190.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/10/Q4QLBJ76NFICPHLWXFISVW2TCA-142x90.jpg 142w, https://cms.cnbcafrica.com/wp-content/uploads/2024/10/Q4QLBJ76NFICPHLWXFISVW2TCA-768x486.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2024/10/Q4QLBJ76NFICPHLWXFISVW2TCA-1536x973.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2024/10/Q4QLBJ76NFICPHLWXFISVW2TCA-scaled.jpg 2048w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">Diamonds are displayed during a visit to the De Beers Global Sightholder Sales (GSS) in Gaborone, Botswana November 24, 2015. REUTERS/Siphiwe Sibeko/File Photo</figcaption></figure>



GABORONE, Oct 30 (Reuters)&nbsp;&#8211;&nbsp;Sales of rough diamonds at the Debswana Diamond Company fell about 52% in the first nine months of 2024, data released by Botswana&#8217;s central bank on Tuesday showed, as the downturn in the global diamond market persisted.



Debswana, equally owned by Botswana and Anglo American Plc&#8217;s&nbsp;AAL.L&nbsp;De Beers, sells 75% of its output to De Beers, with the balance taken up by the state-owned Okavango Diamond Company (ODC).



Last year, Botswana and De Beers agreed to a new 10-year diamond sales agreement, where ODC will receive 30% of Debswana&#8217;s produce and this will be scaled up to 50% by the end of the new contract.



In the first three quarters of the year up to September, Debswana had sold diamonds worth $1.53 billion compared to $3.19 billion in the same period last year, the Bank of Botswana said on Tuesday.



In local currency terms, sales were down 50.3% to 20.9 billion pula, which translates to about $1.55 billion based on current exchange rates.



Botswana gets 30%-40% of its revenue, 75% of its foreign exchange earnings, and a third of its national output from diamonds. It is the world&#8217;s top producer of the gem by value.



The southern African country will hold a general election on Wednesday, with the poor performance of the economy-largely due to the downturn in the global diamond market-and high levels of unemployment among the issues in focus.



&#8220;Our diamonds have not been selling since April, so yes, our revenues are down but the economic fundamentals still remain intact,&#8221; President Mokgweetsi Masisi, who is seeking a second term, said at a presidential debate last week.



($1 = 13.4590 pulas)



(Reporting by Brian Benza; Editing by Abinaya Vijayaraghavan and Bhargav Acharya)

Diamonds are displayed during a visit to the De Beers Global Sightholder Sales (GSS) in Gaborone, Botswana

Botswana’s Debswana diamond sales fall over 50% in first nine months of 2024

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="547" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/10/SXFLCRRB7RPNVE5MXADNSSEI74-820x547.jpg" alt="" class="wp-image-548126" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/10/SXFLCRRB7RPNVE5MXADNSSEI74-820x547.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/10/SXFLCRRB7RPNVE5MXADNSSEI74-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/10/SXFLCRRB7RPNVE5MXADNSSEI74-135x90.jpg 135w, https://cms.cnbcafrica.com/wp-content/uploads/2024/10/SXFLCRRB7RPNVE5MXADNSSEI74-768x512.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2024/10/SXFLCRRB7RPNVE5MXADNSSEI74-1536x1025.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2024/10/SXFLCRRB7RPNVE5MXADNSSEI74-scaled.jpg 2048w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">Umbrella for Democratic Change (UDC) supporters leave the final rally in Tlokweng, east of Gaborone, Botswana October 29, 2024. REUTERS/Thalefang Charles</figcaption></figure>



GABORONE, Oct 30 (Reuters)&nbsp;&#8211;&nbsp;Botswana started voting on Wednesday in an election that will determine whether President Mokgweetsi Masisi secures a second term, with slowing economic growth driven by declining diamond demand the central issue.



Masisi&#8217;s Botswana Democratic Party (BDP) has governed the southern African state since 1966 and remains the favourite to win despite the party&#8217;s falling popularity. Voters elect a National Assembly, with the largest party then choosing the president.



The BDP faces a fragmented opposition with its biggest challenge coming from the Umbrella for Democratic Change (UDC), a coalition led by lawyer Duma Boko. Two other parties have put forward candidates for president.



Voting started smoothly in the capital Gaborone, with long queues outside most polling stations. Over a million people are registered to vote in the country of some 2.3 million, according to the electoral commission.



BDP supporter Penny Mogale, 35, said she was voting for a continuation of entrepreneurship programmes under Masisi which she said had helped her to start a catering business.



&#8220;There are no jobs available but the government is giving us an opportunity to create jobs for ourselves. I want the party to be given a chance to continue with these initiatives,&#8221; she said.



A 26-year-old security guard at a supermarket in downtown Gaborone said he would vote for change at the end of his shift.



&#8220;We work long hours but we earn very little and the government has been refusing to raise the minimum wage,&#8221; said Teto Mosweunyane.



The opposition UDC has pledged to more than double the minimum wage from 1,500 Botswana pula ($112) per month to 4,000 pula if it wins.



Economic issues have dominated the campaign. Although Botswana is one of the wealthiest countries per capita in sub-Saharan Africa, a decline in the global diamond market saw its economic growth forecast for 2024 slashed to 1%.



Botswana is the world&#8217;s top producer by value of diamonds and has struggled to diversify its economy.



Opposition parties have criticized Masisi for the weakening growth rate as well as high levels of inequality and unemployment, while Masisi says his plans to create jobs were disrupted by the COVID-19 pandemic but remain on track.



Masisi came to power in 2018 through a planned transition after his predecessor Ian Khama served the maximum 10 years in office. He kept the job after a 2019 poll which the BDP won.



Election results are usually announced within a few days.



($1 = 13.4409 pulas)



(Reporting by Brian Benza; Writing by Nellie Peyton; Editing by Olivia Kumwenda-Mtambo, Christina Fincher and Ros Russell)

Botswana prepares for elections

Botswana heads to the polls with diamond downturn in focus

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="547" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/10/3ZERF2UFDZL2RNBR2FKVI4RFFM-820x547.jpg" alt="" class="wp-image-547383" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/10/3ZERF2UFDZL2RNBR2FKVI4RFFM-820x547.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/10/3ZERF2UFDZL2RNBR2FKVI4RFFM-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/10/3ZERF2UFDZL2RNBR2FKVI4RFFM-135x90.jpg 135w, https://cms.cnbcafrica.com/wp-content/uploads/2024/10/3ZERF2UFDZL2RNBR2FKVI4RFFM-768x512.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2024/10/3ZERF2UFDZL2RNBR2FKVI4RFFM-1536x1024.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2024/10/3ZERF2UFDZL2RNBR2FKVI4RFFM-scaled.jpg 2048w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">FILE PHOTO: Mokgweetsi Eric Keabetswe Masisi, President of Botswana addresses the &#8220;Summit of the Future&#8221; in the General Assembly Hall of the United Nations Headquarters in New York City, U.S., September 23, 2024. REUTERS/Caitlin Ochs/File Photo</figcaption></figure>



GABORONE, Oct 28 (Reuters)&nbsp;&#8211;&nbsp;Botswana will hold a general election on Wednesday with President Mokgweetsi Masisi competing against three challengers for a second term in the diamond-rich southern African state.



The poll could be competitive, analysts said, although a divided opposition gives the advantage to Masisi&#8217;s Botswana Democratic Party (BDP), which has ruled the country of 2.3 million people since its independence from Britain in 1966.



Botswana has enjoyed stability and relative prosperity thanks to its diamond wealth and small population, which gets free healthcare and education. It is the world&#8217;s top producer by value of the gem.



But a downturn in the diamond market has put a squeeze on revenues in the last few years, and the country has struggled to diversify its economy. Opponents say the BDP has been in power too long and accuse it of economic mismanagement and corruption, which it denies.



&#8220;Our diamonds have not been selling since April so yes, our revenues are down but the economic fundamentals still remain intact,&#8221; said Masisi at a presidential debate last week.



&#8220;We are going to continue with the projects and policies we have come up with that are aimed at putting more money and wealth into the hands of the citizens of this country,&#8221; he said.



One success of his first term was negotiating a new contract with diamond giant De Beers which will give Botswana a greater share of its rough diamonds. He also lifted a ban on elephant hunting which he says benefits rural communities, and instated an import ban on some produce items to help farmers.



His main challenger is Duma Boko of the opposition coalition Umbrella for Democratic Change (UDC).



The other candidates are Dumelang Saleshando of the Botswana Congress Party and Mephato Reatile of the Botswana Patriotic Front, backed by former President Ian Khama who quit the BDP after a feud with Masisi over scrapping the hunting ban and other issues.



Opponents have attacked Masisi&#8217;s economic record, citing rising unemployment, which stands at around 28%.



&#8220;It is not acceptable that a country such as ours which is the fifth richest per capita in Africa still has so many people living in poverty,&#8221; said Boko at the debate.



Botswana actually has the fourth highest gross domestic product (GDP) per capita of countries in sub-Saharan Africa, according to World Bank figures.



Boko has pledged to more than double the minimum wage and increase social grants, saying he would get the money by reducing wasteful spending.



The BDP has faced declining popularity but maintains a large majority in parliament, having won 38 of the 57 contested seats in 2019. The UDC won 15 seats. Voters in Botswana elect parliamentarians, who then elect the president.



Analysts said the opposition is crippled by a lack of funding.



&#8220;The playing field is not even,&#8221; said Ringisai Chikohomero, from the South Africa-based Institute for Security Studies.



After the last election the opposition claimed fraud and challenged the results at the High Court, which dismissed the case.



(Additional reporting and writing by Nellie Peyton; Editing by David Gregorio)

FILE PHOTO: World leaders attend United Nations “Summit of the Future”, in New York

Diamond-rich Botswana votes with President Masisi seeking second term

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="550" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/10/YUCOFABSI5MCHIS24B6SOTQZLQ-820x550.jpg" alt="" class="wp-image-546297" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/10/YUCOFABSI5MCHIS24B6SOTQZLQ-820x550.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/10/YUCOFABSI5MCHIS24B6SOTQZLQ-300x201.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/10/YUCOFABSI5MCHIS24B6SOTQZLQ-134x90.jpg 134w, https://cms.cnbcafrica.com/wp-content/uploads/2024/10/YUCOFABSI5MCHIS24B6SOTQZLQ-768x515.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2024/10/YUCOFABSI5MCHIS24B6SOTQZLQ-1536x1030.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2024/10/YUCOFABSI5MCHIS24B6SOTQZLQ-scaled.jpg 2048w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">A general view of the Reserve Bank of Zimbabwe (RBZ)&#8217;s head office in Harare, Zimbabwe, July 17, 2024. REUTERS/Philimon Bulawayo</figcaption></figure>



JOHANNESBURG, Oct 25 (Reuters)&nbsp;&#8211;&nbsp;Zimbabwe&#8217;s consumer inflation surged to 37.2% month on month in October in local currency terms,&nbsp;data&nbsp;showed on Friday, after a&nbsp;sharp&nbsp;devaluation in the southern African country&#8217;s currency.



Zimbabwe&#8217;s central bank allowed the local gold-backed currency to fall over 40% in late September, to 24.3902 to the U.S. dollar. The currency has since fallen further, to 27.6880 to the dollar as of Friday, according to the central bank&#8217;s website.



In September, before the devaluation, consumer inflation was at 5.8% month on month in local currency terms.



The ZiG, which stands for Zimbabwe Gold, is Zimbabwe&#8217;s sixth attempt at a stable currency in 15 years after a bout of hyperinflation under leader Robert Mugabe. It was launched in April.



(Reporting by Tannur Anders; Additional reporting by Nyasha Chingono; Editing by Alexander Winning)

A general view of the Reserve Bank of Zimbabwe (RBZ)’s head office in Harare

Zimbabwe inflation surges after currency devaluation

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="547" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/10/7KPPN3EOZBPXPP6LCCKJLMUZYA-820x547.jpg" alt="" class="wp-image-545850" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/10/7KPPN3EOZBPXPP6LCCKJLMUZYA-820x547.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/10/7KPPN3EOZBPXPP6LCCKJLMUZYA-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/10/7KPPN3EOZBPXPP6LCCKJLMUZYA-135x90.jpg 135w, https://cms.cnbcafrica.com/wp-content/uploads/2024/10/7KPPN3EOZBPXPP6LCCKJLMUZYA-768x512.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2024/10/7KPPN3EOZBPXPP6LCCKJLMUZYA-1536x1024.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2024/10/7KPPN3EOZBPXPP6LCCKJLMUZYA-scaled.jpg 2048w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">Botswana President Mokgweetsi Masisi speaks to Reuters at the One &amp; Only Hotel as the African Mining Indaba 2022 takes place, in Cape Town, South Africa, May 10, 2022. REUTERS/Shelley Christians</figcaption></figure>



JOHANNESBURG, Oct 24 (Reuters)&nbsp;&#8211;&nbsp;Botswana holds a national election on Oct. 30, with President Mokgweetsi Masisi favourite to win a second term against three challengers in a nation his Botswana Democratic Party (BDP) has governed since independence from Britain in 1966.



Voters elect National Assembly members, who then pick the president. Here are some facts about the candidates:



<h2 class="wp-block-heading" id="h-mokgweetsi-masisi">MOKGWEETSI MASISI</h2>



Masisi has been president since 2018 when he ascended to the post after serving as vice president under predecessor Ian Khama. He retained the presidency when his BDP party won the 2019 election.



The 63-year-old is a former schoolteacher who worked for U.N. children&#8217;s agency UNICEF before entering politics. During his first term he contended with high unemployment and lower growth due to declining global demand for diamonds, which Botswana&#8217;s economy relies on.



Masisi gained support last year for negotiating a new sales deal with De Beers that will give the country a bigger share of its diamond wealth, although opponents say he has not done enough to diversify the economy and create jobs.



He has fallen out with Khama, who accuses him of authoritarianism and is backing an opposition party.



<h2 class="wp-block-heading" id="h-duma-boko">DUMA BOKO</h2>



Duma Boko, 54, a lawyer, is running for the third time as leader of the Umbrella for Democratic Change (UDC), an opposition coalition that came second in 2019 and remains the BDP&#8217;s biggest challenge.



In his party manifesto, Boko proposes increasing the government&#8217;s role in the economy to achieve social development and sustainable growth.



Boko&#8217;s party challenged the last election as fraudulent at the High Court, which dismissed the case.



<h2 class="wp-block-heading" id="h-dumelang-saleshando">DUMELANG SALESHANDO</h2>



Dumelang Saleshando, 53, is leader of the Botswana Congress Party (BCP). The BCP was founded in 1998 and has won between 10%-20% of votes in past elections.



Saleshando took over from his father in 2010 as BCP party leader. The party describes itself as having social democratic principles and is campaigning with the motto &#8220;Save Botswana&#8221;.



<h2 class="wp-block-heading" id="h-mephato-reatile">MEPHATO REATILE</h2>



Mephato Reatile is leader of the Botswana Patriotic Front (BPF), a party created in 2019 by members of the ruling party who followed Khama when he broke away from the BDP because of his feud with Masisi.



Khama, whose father Seretse Khama was Botswana&#8217;s founding president, has returned from three years in exile to support the BPF in the election.



The party won about 4% of votes in 2019.



(Reporting by Nellie Peyton; Additional reporting by Brian Benza; Editing by Olivia Kumwenda-Mtambo and Andrew Cawthorne)

Botswana President Masisi speaks to Reuters in Cape Town

Who is running for president in Botswana’s election?

<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="1200" height="789" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/10/YWWKJYXNFNKNXNNTA7PVQVR7QU-1.jpg" alt="" class="wp-image-542871" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/10/YWWKJYXNFNKNXNNTA7PVQVR7QU-1.jpg 1200w, https://cms.cnbcafrica.com/wp-content/uploads/2024/10/YWWKJYXNFNKNXNNTA7PVQVR7QU-1-300x197.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/10/YWWKJYXNFNKNXNNTA7PVQVR7QU-1-820x539.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/10/YWWKJYXNFNKNXNNTA7PVQVR7QU-1-137x90.jpg 137w, https://cms.cnbcafrica.com/wp-content/uploads/2024/10/YWWKJYXNFNKNXNNTA7PVQVR7QU-1-768x505.jpg 768w" sizes="auto, (max-width: 1200px) 100vw, 1200px" /><figcaption class="wp-element-caption">A logo of the Bank of Namibia is seen at the company&#8217;s headquarters in Windhoek, Namibia, February 24, 2017. REUTERS/Siphiwe Sibeko/File Photo</figcaption></figure>



WINDHOEK, Oct 16 (Reuters)&nbsp;&#8211;&nbsp;Namibia&#8217;s central bank cut its main interest rate&nbsp;for the second meeting in a row on Wednesday, saying inflation had fallen surprisingly quickly and that the economy needed more support.



Its Monetary Policy Committee (MPC) unanimously decided to cut the repo rate by 25 basis points to 7.25%, the same size of cut as at August&#8217;s meeting.



&#8220;The MPC noted the growing momentum in the international monetary policy easing cycle, the retreat in domestic inflation over the medium term, along with the recent downside surprise in the September 2024 inflation print,&#8221; Bank of Namibia Governor Johannes !Gawaxab said in a statement accompanying the decision.



Annual inflation in the southern African country fell to 3.4% in September, a steep drop from the 4.4% posted in August.



The central bank on Wednesday revised down its average inflation forecast for this year to 4.3%, versus a 4.7% forecast given at its last meeting.



It attributed the revision to a more favourable outlook for international oil prices and a stronger domestic exchange rate.



The bank said private sector credit extension remained subdued, suggesting that further support to the domestic economy was warranted.



&#8220;The domestic economy, while growing at a moderate pace, was operating below full capacity,&#8221; !Gawaxab said.



Growth is projected to slow to 3.1% in 2024, compared to 4.2% in 2023.



On a $750 million Eurobond redemption due in late 2025, the central bank governor said Namibia had already set aside 82% of the $500 million it wants to retire at maturity. The government still hopes to refinance the remaining $250 million, !Gawaxab said.



(Writing by Tannur Anders; Editing by Alexander Winning and Gareth Jones)

YWWKJYXNFNKNXNNTA7PVQVR7QU (1)

Namibia central bank cuts key rate again to help growth

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="602" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/10/LYNXMPEG0F1AI-820x602.jpg" alt="" class="wp-image-542577" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/10/LYNXMPEG0F1AI-820x602.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/10/LYNXMPEG0F1AI-300x220.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/10/LYNXMPEG0F1AI-122x90.jpg 122w, https://cms.cnbcafrica.com/wp-content/uploads/2024/10/LYNXMPEG0F1AI-768x564.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2024/10/LYNXMPEG0F1AI-1536x1129.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2024/10/LYNXMPEG0F1AI-scaled.jpg 2048w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">FILE PHOTO: Victims of Cyclone Idai receive food aid at Siverstream Estates in Chipinge, Zimbabwe March 24 ,2019. REUTERS/Philimon Bulawayo/File Photo</figcaption></figure>



GENEVA, Oct 15 (Reuters)&nbsp;&#8211;&nbsp;Millions of people across southern Africa are facing the worst food crisis in decades, the World Food Programme (WFP) said on Tuesday, warning that its ability to provide relief risks being stymied by funding shortfalls.



Amid unprecedented drought conditions, a record five countries &#8211; Lesotho, Malawi, Namibia, Zambia and Zimbabwe &#8211; have declared a state of disaster and called for international humanitarian support, the U.N. agency said. Angola and Mozambique are also badly affected and around 21 million children are malnourished.



&#8220;Unless we receive additional resources, millions of people risk going through the worst lean season in decades without assistance,&#8221; WFP spokesperson Tomson Phiri told a Geneva press briefing.



The agency is planning to provide food and, in some cases, cash assistance to more than 6.5 million people in the seven hardest-hit countries to cover the period until the next harvest in March.



The WFP said, however, that it had only received about a fifth of the $369 million it needed.



&#8220;Crops failed, livestock has perished and children are lucky to receive even one meal per day. The situation is dire, and the need for action has never been clearer,&#8221; said Phiri.



(Reporting by Emma Farge, editing by Ed Osmond)

LYNXMPEG0F1AI

Millions in southern Africa facing worst food crisis in decades, warns WFP

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="558" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/10/I7C3XAJPIJIFJO4UI73JPMT24U-820x558.jpg" alt="" class="wp-image-540670" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/10/I7C3XAJPIJIFJO4UI73JPMT24U-820x558.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/10/I7C3XAJPIJIFJO4UI73JPMT24U-300x204.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/10/I7C3XAJPIJIFJO4UI73JPMT24U-132x90.jpg 132w, https://cms.cnbcafrica.com/wp-content/uploads/2024/10/I7C3XAJPIJIFJO4UI73JPMT24U-768x522.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2024/10/I7C3XAJPIJIFJO4UI73JPMT24U-1536x1045.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2024/10/I7C3XAJPIJIFJO4UI73JPMT24U-scaled.jpg 2048w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">FILE PHOTO: Workers load lithium concentrate at Prospect Lithium Zimbabwe mine in Goromonzi, Zimbabwe, January 9, 2024. REUTERS/Philimon Bulawayo/File Photo</figcaption></figure>



HARARE, Oct 10 (Reuters)&nbsp;&#8211;&nbsp;Zimbabwean miners expect profits to decline on the back of anticipated high costs of production and a weak outlook for platinum and lithium in 2025, according to a report.



A confluence of global and local factors will eat into the southern African country&#8217;s mining revenue and profit next year, said the report by the Chamber of Mines of Zimbabwe (COMZ).



Zimbabwe is known for abundant deposits of platinum group metals (PGMs), gold and lithium.



&#8220;The issue of costs continue to dampen the spirit of profitability,&#8221; said Isaac Kwesu, COMZ&#8217;s chief executive.



Costs of production are expected to increase by an average of 8% in 2025. Miners expect energy needs to grow to 800 megawatts per day in 2025 from 600 megawatts this year.



Zimbabwe&#8217;s mining industry, one of its highest foreign currency earners alongside tobacco and horticulture, continues to be blighted by rolling power cuts and exchange losses.



In 2024, the mining sector lost around $500 million in potential revenue to power outages, the report said.



Miners however expect gold prices to remain bullish, increasing by an average of 12% in 2025 with PGMs and lithium declining 15%, the report said.



Business confidence is also expected to improve with capital expenditure seen exceeding $600 million in 2025.



(Reporting by Nyasha Chingono; Editing by Bhargav Archaya and Ros Russell)

Workers load lithium concentrate at Prospect Lithium Zimbabwe mine in Goromonzi

Zimbabwean miners expect profits to fall in 2025, report says

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="562" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/10/MDGNNNW45RL23ECVBDK6NGTPTE-820x562.jpg" alt="" class="wp-image-537954" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/10/MDGNNNW45RL23ECVBDK6NGTPTE-820x562.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/10/MDGNNNW45RL23ECVBDK6NGTPTE-300x206.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/10/MDGNNNW45RL23ECVBDK6NGTPTE-131x90.jpg 131w, https://cms.cnbcafrica.com/wp-content/uploads/2024/10/MDGNNNW45RL23ECVBDK6NGTPTE-768x527.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2024/10/MDGNNNW45RL23ECVBDK6NGTPTE-1536x1053.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2024/10/MDGNNNW45RL23ECVBDK6NGTPTE.jpg 2048w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">File photo of fuel tanks at the edge of a miltary airstrip on Diego Garcia, largest island in the Chagos archipelago and site of a major United States military base in the middle of the Indian Ocean leased from Britain in 1966. clh/HO/U.S. CLH/File Photo</figcaption></figure>



LONDON, Oct 3 (Reuters)&nbsp;&#8211;&nbsp;Britain said on Thursday it would give up sovereignty of the Chagos Islands to Mauritius in a deal that would allow people displaced decades ago to return home while London retains use of the UK-U.S. military base on Diego Garcia.



Britain said that the operation of Diego Garcia, a strategic military base jointly operated with the United States, was protected by the agreement, which also allows Mauritius to resettle the rest of the islands after its population was displaced.



&#8220;This government inherited a situation where the long-term, secure operation of the Diego Garcia military base was under threat, with contested sovereignty and ongoing legal challenges,&#8221; British Foreign Minister David Lammy said in a statement.



&#8220;Today’s agreement secures this vital military base for the future. It will strengthen our role in safeguarding global security, shut down any possibility of the Indian Ocean being used as a dangerous illegal migration route to the UK, as well as guaranteeing our long-term relationship with Mauritius.&#8221;



Britain, which has controlled the region since 1814, detached the Chagos Islands in 1965 from Mauritius &#8211; a former colony that became independent three years later &#8211; to create the British Indian Ocean Territory.



In the early 1970s, it evicted almost 2,000 residents to Mauritius and the Seychelles to make way for an airbase on the largest island, Diego Garcia, which it had leased to the United States in 1966.



The World Court said in 2019 that Britain should give up control of the islands and said it had wrongfully forced the population to leave in the 1970s to make way for a U.S. air base.



In a joint statement, Britain and Mauritius said that the political agreement had the support and assistance of the United States and India.



(Reporting by Alistair Smout, William James, Muvija M and Michael Holden; Editing by Kate Holton)

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Southern Africa

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