Executive Summary

Harbinger Dairies (Pty) Ltd, presented by Harbinger Holdings (Pty) Ltd, is a proposed integrated dairy enterprise in Botswana. It aims to increase local milk production, reduce dairy imports and strengthen food security. The project plans a commercial farm of approximately 1,000 cows, targeting 800 cows in milk at full capacity. Development will include dairy farming, breeding, feed production and modern milking infrastructure, followed by milk processing, packaging and distribution. Harbinger aims to operate through professional management, efficient systems, responsible animal care and sound governance. The enterprise is designed to create jobs, develop skills, expand citizen participation and strengthen Botswana’s dairy value chain. Its long-term vision is to build Botswana’s largest integrated dairy ecosystem, supplying quality local dairy products and creating sustainable value for investors, employees, farmers and the national economy. Harbinger welcomes strategic investment and partnerships. Harbinger Dairies seeks $20 - $30 million in strategic investment through debt financing, development funding and potential partnerships. Investment will support a 1,000-cow dairy farm, feed production, infrastructure, equipment and working capital. We welcome investors offering capital. Currently a board of directors Executive to be recruited, The Board is composed of: Mr. Norman Bakani; Founder and vision holder, Managed dairy farm, Started and managed beef ranch project, Pioneered Debswana technology education in Orapa primary schools. Mariri; Former head of dairy department , government of Botswana Dr. Boitumelo; Specialist dairy professional currently lecturer at BAC, Botswana Mr. Moilwa; work with the government of Botswana as dairy officer, Worked with LEA as agri-business officer now retired Mrs Tsayang; Retired Bank Manager (ABSA) Mr. Bothale; Retired; Served in several boards, worked with Statistics Botswana Mr. Khumoitsile; Retired manager at DEBSWANA mining company Mr. Thusi Majwabe. Worked as senior engineer with DEBSWANA Little space for detailed board previous achievements. A separate detailed profile for each member will be submitted Projected financial perfomance Initial herd: 1,000 cows Target cows in milk: 800 Average milk production: 25 litres per cow daily Selling price: P15 per litre Estimated annual milk revenue at full production: P109.5 million Estimated operating costs at 60% of revenue: P65.7 million Estimated annual EBITDA at full production: P43.8 million Botswana's dairy industry presents a significant investment opportunity driven by domestic demand, limited local production and the country's strategic objective of strengthening food security and reducing dependence on imported dairy products The national milk market is estimated at approximately 65 million liters annually. In the 2023/2024 financial year, domestic production was approximately 7.9 million liters, while imports reached 48.3 million liters, demonstrating the substantial gap between local supply and consumption. Government figures reported in February 2026 indicated domestic production of approximately 8.2 million liters, meeting only 13% of national demand, with imports valued at P370.4 million. South Africa remains Botswana's principal source of imported milk The market is supported by established dairy processors, retailers, distribution networks and consumer demand for fresh milk and other dairy products. Opportunities extend beyond liquid milk to sour milk, yoghurt, cheese, butter, cream and other value-added products. Growing domestic production could strengthen local supply chains, improve availability and reduce exposure to imported products The industry faces structural challenges, including limited dairy breeding stock, high feed costs, water scarcity, drought, animal disease risks, infrastructure and shortages of specialized skills. These constraints have restricted domestic production and created opportunities for well-capitalized, professionally managed commercial dairy enterprises. Government initiatives increasingly recognize dairy development as an important contributor to agricultural transformation, employment, economic diversification and food security. Strategic investments, including the development of Milk Valley Farm by Botswana Development Corporation, demonstrate growing institutional commitment to expanding domestic production and strengthening the dairy value chain. The opportunity lies in developing efficient commercial dairy farms, improving breeding and feed systems, expanding milk processing capacity and establishing reliable distribution channels. Integrated operations can capture value across production, processing, packaging and marketing while creating employment and supporting citizen participation Harbinger Dairies intends to position itself within this market through a proposed integrated dairy enterprise, initially targeting approximately 1000 cows with 800 cows in milk at full operating capacity. Its development strategy combines commercial milk production, feed security, modern infrastructure, professional management and progressive processing expansion The long-term opportunity is to contribute to Botswana's domestic dairy supply, reduce import dependence and establish a commercially sustainable enterprise serving local consumers while supporting national agricultural development Botswana's dairy market therefore offers a compelling opportunity for strategic investment, provided that production economics, feed security, water availability, animal health, processing capacity and market access are carefully managed