The Exploration Investment Company of Botswana (EICB) has announced the appointment of Olefile Mashabila as its substantive Chief Executive Officer with effect from August 1, 2026. The state-owned company stated that Mashabila assumes leadership of EICB after serving as Chief Executive Officer of the Botswana Geoscience Institute (BGI), where he led one of the most significant periods of institutional transformation in the organisation’s history. His appointment marks an important milestone for EICB as it transitions from operationalisation into full-scale implementation of its mandate to unlock Botswana’s mineral potential through exploration investment.
During his tenure at BGI, Mashabila repositioned the Institute as a modern, future-ready geoscience organisation through the implementation of the 2023–2028 Strategic Business Plan, strengthening institutional capability, operational excellence and long-term sustainability while enhancing Botswana’s competitiveness as a global destination for mineral exploration investment.
He also played a leading role in shaping Botswana’s long-term minerals development agenda by championing the 10-Year Mineral Resources Development, Exploration, Exploitation, Beneficiation and Value Chain (MRDEEVC) Strategy, together with the Beneficiation Thresholds Framework and the Small-Scale Mining Framework. These landmark initiatives continue to provide strategic direction for mineral exploration, value addition, citizen participation and sustainable sector growth.
His leadership at BGI also saw the successful implementation of major national geoscience initiatives, including high-resolution geophysical surveys, expanded geochemical mapping, development of national core repository infrastructure, recapitalisation of laboratory services into a Centre of Excellence for Mining and Exploration Analytical Services, and the strengthening of Botswana’s geoscience knowledge base to support investment-ready exploration opportunities.
The impact of these reforms was reflected in Botswana exceeding BGI’s Strategic Business Plan target of attaining a Best Practice Mineral Potential Index (BPMPI) of 70% by 2028, achieving 77% in 2025, three years ahead of schedule. This achievement further enhanced Botswana’s international standing as a globally competitive destination for mineral exploration investment.
As the founding substantive Chief Executive Officer of EICB, Mashabila will now lead the organisation into its next phase of growth, driving strategic investments in mineral exploration, strengthening partnerships with local and international investors, de-risking exploration through catalytic investment, and supporting the discovery and development of Botswana’s future mineral resources.
“EICB looks forward to working with Government, investors, industry stakeholders and development partners to position Botswana as Africa’s premier destination for mineral exploration investment and to unlock new opportunities for sustainable economic growth and national prosperity,” the parastatal said.