The Gap
Botswana exports raw hides.
Value is captured outside the country.
LRG Holdings/Lobatse, Botswana/SEZA-Licensed (SEZBW00029)
Botswana Leather
Industrial Platform.
Structuring a private-sector led tanning and manufacturing export base in Lobatse, Botswana.
Led by LRG Holdings in coordination with SEZA and international manufacturing partners.
Engage With LRG
Phase 1 structuring now underway · engaging strategic partners and capital
~1.7M
National Herd
BBB− / Baa1
Sovereign Credit (IG)
55+
Years Stability
5%
SEZ Tax (yrs 1-10)
35 ha
Lobatse SEZ
Sources · Statistics Botswana · S&P Global Ratings (Mar 2026) · Moody’s Investors Service (Oct 2025) · SEZA
01 / Why This Exists
Why This Exists.
The Opportunity
Establish local tanning and finished goods manufacturing.
Capture processing, design, and export margins domestically.
The Outcome
Industrial jobs.
Export revenues.
A scalable manufacturing base.
02 / The Project
The Project.
A vertically integrated leather processing and manufacturing platform based in Lobatse, within the SEZA industrial framework.
Structure
SPV
LRG Leather Botswana
Scope
- 01Tannery (hide processing)
- 02Finished goods manufacturing (bags, footwear, accessories)
- 03Export-oriented production platform
03 / Current Status
Current Status.
Factual position, as of current structuring phase.
01
Project structuring phase initiated
Active
02
Engagement with SEZA under Lobatse SEZ framework
Active
03
Raw material supply pathways under discussion with Botswana Meat Commission (BMC)
Active
04
International technical and manufacturing partners engaged
Active
FocusAligning supply, processing capability, and export channels into a single operating platform.
Supply Resilience by Design
Botswana’s beef sector is currently navigating a foot-and-mouth disease containment cycle, with BMC operations suspended as of July 2026. The LRG Leather Botswana platform is structured to be resilient to precisely this kind of single-source risk.
Phase 1 hide sourcing is designed as a multi-country SADC intake. Botswana as the anchor, with parallel supply agreements under evaluation across Namibia, South Africa, and Zimbabwe. This is not a workaround. It is the intended structure. Regional zoning, veterinary compliance, and hide-quality specification (bull-to-cow ratio, weight class, cure method) will be documented at the SPV level before Phase 1 commissioning.
04 / Why This Version Works
Why This Version Works.
01
Private-sector led execution (not purely government-driven)
02
Integrated model (processing + finished goods, not standalone tannery)
03
Export-first strategy aligned to global markets
04
International manufacturing expertise engaged from inception
05 / Why Botswana
Why Botswana.
- 01
Established cattle base (raw material source)
- 02
Stable, investment-aligned policy environment
- 03
SEZA industrial framework supporting export manufacturing
- 04
Strategic positioning for access to international markets
06 / Environmental & Social Design
Environmental & Social Design.
LRG Leather Botswana is being designed to Leather Working Group (LWG) audit-readiness from Phase 1. Environmental engineering decisions will be locked with the technical partner at design-freeze. Several remain open by intent, because they are downstream of end-market specification.
01Under Evaluation
Tanning Chemistry
Chrome-free / wet-white and vegetable-tanning chemistries are both under active review. Final chemistry selection will follow anchor off-take specification. Automotive and mid-luxury end-markets typically specify wet-white or chrome-managed processes; high-luxury European off-take typically specifies vegetable-tanned Tuscan tradition. The plant is being designed to support the chemistry the off-take requires.
02Non-Negotiable
Water & Effluent
Site design assumes on-plot effluent treatment, sludge management, and water-recycling infrastructure to Italian tannery-cluster standards. Italprogetti’s environmental division designs the wastewater, sludge, and gas-treatment systems for the Tuscan leather cluster; the same specification standard applies here.
03By Design
Traceability
Multi-country SADC hide intake paired with hide-level traceability documentation. Country of origin, veterinary zone, cure method, and weight class captured at intake and preserved through to finished-good level.
04Targeted
Certifications
LWG (Leather Working Group); ZDHC alignment on chemistry; SEZA environmental compliance; Botswana Department of Environmental Affairs sign-off.
07 / Investment Opportunity
Investment Opportunity.
Anchor Round
USD 5–15M
Phase 1 site development, technical partnership engagement, and SPV-level pre-construction workstreams. Instrument, tranching, and drawdown schedule to be structured with anchor investor. Blended-finance and DFI participation actively welcomed.
Platform
Mid-scale industrial manufacturing platform combining tanning and finished goods production.
Investment Structure
Anchor round into a Botswana-domiciled SPV (“LRG Leather Botswana”) under SEZA licensing. Instrument, tranching, minority-partner participation, and exit design to be structured with anchor investor. Governance, reporting, and DFI-compliance frameworks under development in parallel with SEZA aftercare.
Revenue Drivers
- Leather processing
- Finished goods export
- Value-added manufacturing
Current Phase
Initial phase structuring. Capital, technical, and strategic partners being aligned.
08 / Partnership Model
Partnership Model.
LRG
LRG Holdings
Project structuring and execution leadership
SEZA
SEZA
Industrial framework and licensing engagement
INT
International Partners
Technical expertise, manufacturing capability, product development
INV
Investors
Capital participation at SPV level
09 / Technical Partners
Technical Partners.
Engaging Italian engineering at design stage. A deliberate choice to align the platform with premium end-market specification from day one.
ITALPROGETTI
Italprogetti S.p.A.
Tuscan Tannery Engineering
Founded · 1977
Location · San Romano, Pisa, Italy
Export markets · 50-90+
Membership · Leather Working Group
Engagement stage · Scoping (Underway)
Phase 1 Engineering & Plant Design
Phase 1 engineering and plant design is being scoped in engagement with Italprogetti S.p.A., a Tuscan tannery-engineering firm and one of the reference global suppliers of tannery drum, water-treatment, and process-automation systems.
The Tuscan leather cluster (Santa Croce sull’Arno / Ponte a Egola) is the technical benchmark for luxury and automotive-grade leather globally. Italprogetti’s environmental division designs the wastewater, sludge, and gas-treatment systems for the cluster. The same specification standard is intended here.
Engagement stage is scoping. No signed contract is claimed. Status is reflected as “Underway” in the Current Progress table.
Tannery drumsWater treatmentProcess automationSludge managementGas treatment
Additional Italian and European technical partners (chemistry suppliers, LWG auditors, luxury off-take contacts) will be added as engagements progress.
Project Sponsor
Who Is Behind This.
Counterparties will ask who is structuring this. Named principal, citizen-owned enterprise, direct line.
LR
Lefika Ragontse
Founder & Developer
LRG Holdings · Citizen-Owned Enterprise
Lefika Ragontse is the founder of LRG Holdings, the project developer and operating entity behind the Botswana Leather Park.
LRG Holdings is a citizen-owned enterprise focused on building globally competitive platforms from African supply chains. The principal carries experience across international trade, manufacturing partnerships and resource-based industries.
Company
LRG Holdings
Status
Citizen-Owned
Location
Gaborone, Botswana
Role
Developer & Operator
Transparency
Current progress.
We distinguish between what is confirmed and what is proposed. No overstatement. Status as of current structuring phase.
Granted
SEZA Investor Licence — No. SEZBW00029 (16 Mar 2026, 50-year validity)
Underway
Land allocation discussions in Lobatse SEZ
Underway
Technical partner engagement with Italian manufacturers
Underway
Financial structuring and investment documentation
Next Required
BPC grid connection agreement for solar infrastructure
Next Required
BERA licensing approval for IPP operations
10 / Execution Priorities
Execution Priorities.
- 01
Secure raw material throughput framework
In progress - 02
Finalize site allocation within Lobatse SEZ
In progress - 03
Define initial production capacity and phased scale-up
In progress - 04
Align technical partners with operating model
In progress
11 / Engage
Engage With the Platform.
We are currently engaging:
01
Strategic investors
02
Technical and manufacturing partners
03
Institutional stakeholders
Serious counterparties are invited to engage during the current structuring phase.