AGP Executive Report

Banking & Insurance: FNB Eswatini reopened its revamped Matsapha branch to serve the industrial town’s growing customer base. Second-quarter gross premiums also rose year-on-year, up 18.5% in long-term and 15.6% in short-term insurance. Investment & Logistics: ESWACAA is seeking investors for an airport special economic zone focused on agro-processing, pharmaceuticals, cargo logistics, renewable energy and waste management. Eswatini is also studying how to control vessel registrations under its flag and earn from maritime activity. Energy: Eswatini will host the 2027 SADC Sustainable Energy Week in March, with regional awards recognising clean-energy projects; applications close November 20. Local Industry: Reports that a Manzini mall project imported precast concrete despite local manufacturing capacity have renewed calls to back domestic suppliers. Ubombo Sugar, meanwhile, retained a top global ABF award. Jobs & Business: Taiwan could offer about 1,000 emaSwati jobs annually, according to the King, as the countries explore expanded cooperation. An entrepreneurship expert also urged small businesses to use AI to improve efficiency and reach customers.

Mining and Value Addition: African Mining Week urged producers to turn rising mineral demand into local jobs and industry; Eswatini joined a new forum of state mining companies. Energy: Eswatini will host the 2027 SADC Sustainable Energy Week in Ezulwini, with awards recognising clean-energy projects and innovators. Telecoms: GSMA says high spectrum fees are holding back network investment and names Eswatini among Africa’s costliest markets. Investment: ESWACAA is inviting investors to explore an airport special economic zone focused on agro-processing, pharmaceuticals, cargo logistics, renewable energy and waste management. Digital Services: 250 health facilities are connected to interoperable systems intended to improve medicine stock control and patient records. Local Industry: Ubombo Sugar has won ABF Sugar’s top business award for a second year; meanwhile, a report says imported concrete products are being used in the Manzini Mall redevelopment despite local manufacturing capacity.

Airport Investment: ESWACAA is inviting investors to a proposed special economic zone at King Mswati III International Airport, targeting agro-processing, pharmaceuticals, cargo logistics, renewable energy and waste management. Business Opportunities: Waterford Kamhlaba seeks communications, media and creative suppliers for its preferred-vendor pool; expressions of interest close November 18. Jobs: Taiwan is considering opportunities for around 1,000 emaSwati a year across sectors, extending cooperation beyond teaching. Local Industry: Contractors on the Manzini Mall redevelopment are importing precast concrete despite local manufacturing capacity, raising questions about procurement and support for domestic suppliers. Agriculture & Innovation: Ubombo Sugar has won ABF Sugar’s top business award for a second straight year, while a student-built wildfire alert system could help protect forests and sugarcane fields. Regional Logistics: A US$150 million upgrade to Maputo Port’s access channel aims to accommodate larger vessels and strengthen a key trade route serving Eswatini.

Taiwan Jobs: Taiwan could offer about 1,000 emaSwati jobs a year across different fields, alongside annual housing support for vulnerable citizens, King Mswati III said after his visit. Construction: A report says contractors on the Manzini Mall redevelopment imported precast concrete products from South Africa despite local manufacturing capacity, raising questions about procurement and opportunities for Eswatini suppliers. Economic Pressures: The IMF warns that higher fuel, transport and fertiliser costs could push up living costs across the region; its projections are not specific to Eswatini. Homegrown Technology: STEM Club Eswatini’s wildfire-alert prototype combines satellite data and sensors to protect forests and sugarcane fields. The system could cut response times, but still needs testing and development. Sugar Industry: Ubombo Sugar has won ABF Sugar’s Business of the Year award for a second consecutive year, recognised for performance across operations, farming, safety and staff development. Regional Trade: A US$150 million project will deepen Maputo Port’s channel to accommodate larger vessels. The port’s corridor connects regional markets, including Eswatini, to global trade.

Taiwan Jobs: King Mswati III says talks with Taiwan explored the possibility of placing about 1,000 emaSwati a year in jobs there, broadening opportunities beyond teaching and building skills. Local Manufacturing: An investigation found South African precast concrete products being used in the Manzini Mall and Bus Rank redevelopment, despite local production capacity. The sourcing raises questions about opportunities for Eswatini suppliers. Cost Pressures: The IMF warns that rising fuel, transport and fertiliser costs could push up prices across the region and strain household budgets. Sugar Industry: Ubombo Sugar has won ABF Sugar’s Business of the Year award for a second consecutive year, recognised for performance across its operations and workforce. Homegrown Technology: STEM Club Eswatini’s wildfire detection system could help protect forestry and sugarcane fields; its developers say it may cut response times to under five minutes. Regional Logistics: A US$150 million project will deepen Maputo port’s access channel to accommodate larger vessels, strengthening a trade route serving Eswatini and neighbouring markets.

Industrial Partnership: Eswatini and Taiwan are considering a formal agreement to open jobs for emaSwati in more sectors, alongside cooperation on skills, investment and industrial growth. Trade & Logistics: Mozambique has launched a US$150 million project to deepen Maputo Port’s access channel, helping larger vessels serve a trade corridor that links Eswatini with regional and global markets. Agribusiness: Ubombo Sugar has won ABF Sugar’s Business of the Year award for a second consecutive year, topping the group’s operations in Africa and Europe. Local Innovation: A student-built wildfire alert system combining satellite data and sensors could help protect forestry and sugarcane operations; the government says it may be considered for wider use if proven effective. Water Infrastructure: EWADE is seeking consultants to audit environmental and social compliance for the Mkhondvo-Ngwavuma water and agriculture programme. Business Outlook: The IMF cut its Eswatini growth forecasts to 3.7% for 2026 and 3.4% for 2027. August lending diverged: SME credit rose 5.6%, while credit to large firms fell 8.9%.

Construction: Eswatini needs E98 million to build stands in Somhlolo Stadium’s “no man’s land” area, but the sports minister says an earlier E140 million request was cut and E42 million redirected elsewhere. Regional Trade: Maputo has launched a US$150 million port-channel dredging project to accommodate larger vessels, boosting a key trade gateway for Eswatini and neighbouring markets. Local Innovation: STEM Club Eswatini’s wildfire alert system combines satellite data and sensors to protect forests and sugarcane fields; the government hopes it can progress from prototype to wider deployment. Agribusiness: Ubombo Sugar has won ABF Sugar’s Business of the Year award for a second straight year, recognition of its performance across the group’s African and European operations. Water Infrastructure: EWADE is seeking consultants to audit environmental and social compliance for the Mkhondvo-Ngwavuma water project, a major scheme intended to support irrigation and rural livelihoods. Industrial Policy: Finance Minister Neal Rijkenberg called for stronger African trade and more value-added production, urging countries to rely less on imported finished goods.

Regional Trade: DP World is backing a US$150 million Maputo Port dredging project to admit larger vessels and boost a trade corridor serving Eswatini. Homegrown Technology: STEM Club Eswatini’s wildfire alert prototype combines satellite data and sensors to protect forests and sugarcane fields; developers say it could cut response times, but it still needs testing and wider deployment. Agribusiness: Ubombo Sugar has won ABF Sugar’s Business of the Year award for a second straight year, outperforming the group’s operations across Africa and Europe. Disaster Resilience: Eswatini says it needs E1.23 billion for a plan covering agriculture, food security, water, energy and early warnings. Business Finance: SME lending rose 5.6% to E3.9 billion in August, even as credit to large firms fell 8.9% and overall business credit declined. Energy Security: King Mswati III has called for fuel storage to grow from 60 to 90 days to cushion the economy against supply shocks. Local Manufacturing: YERF says youth enterprise support should help local producers compete with imports and create jobs.

Sugar Industry: Ubombo Sugar has won ABF Sugar’s Business of the Year award for a second straight year, topping the group’s operations across Africa and Europe despite tough conditions. Homegrown Technology: STEM Club Eswatini’s wildfire alert prototype combines satellite data and ground sensors to help protect forests and sugarcane fields; the Prime Minister says it could become a national early-warning system if proven effective. Disaster Resilience: Eswatini needs E1.23 billion to put its resilience and recovery plan into action, with investment spanning agriculture, water, energy and other essential services. Water Infrastructure: EWADE has invited bids for an environmental and social audit of the Mkhondvo-Ngwavuma water programme, a major project intended to expand irrigation and support rural livelihoods. Regional Logistics: Mozambique has begun a US$150 million project to deepen Maputo Port’s access channel, aiming to bring in larger vessels and strengthen a trade route serving Eswatini and its neighbours. Local Manufacturing: Eswatini’s youth enterprise fund is urging more support for young businesses to make goods locally and reduce reliance on imports.

Water & Agriculture: EWADE is seeking consultants to audit environmental and social compliance for the Mkhondvo-Ngwavuma water programme, a major irrigation and rural development project. Regional Trade: Mozambique has launched a US$150 million dredging project to deepen Maputo Port’s channel, helping larger vessels serve a corridor that connects Eswatini to global markets. Business Finance: Eswatini Bank’s managing director told African banking leaders that financial inclusion should help SMEs grow and create jobs; locally, SME lending rose 5.6% in August even as overall business credit fell. Industrial Growth: The King has urged Eswatini to expand industrial parks, while talks with Taiwan are exploring more job opportunities for emaSwati. Youth Enterprise Revolving Fund CEO Mandla Nkambule also called for stronger local manufacturing. Sugar: Ubombo Sugar won ABF Sugar’s Business of the Year award for a second consecutive year, outperforming the group’s businesses in Europe and Africa.

Business Rules: A representative of Eswatini’s Islamic community warns that implementing the proposed Citizens’ Economic Empowerment regulations could disrupt affected sectors and shift market activity. Jobs and Skills: The King says Taiwan is considering jobs for emaSwati in more sectors, beyond English teaching, while Eswatini’s World Bank partnership should deliver jobs and better public services, Economic Planning Minister Thambo Gina says. Agribusiness: Ubombo Sugar has won ABF Sugar’s Business of the Year award for a second straight year, outperforming the group’s businesses in Europe and Africa. Trade and Industry: Finance Minister Neal Rijkenberg is urging stronger African trade and more local production of value-added goods; the King has also called for industrial parks across Eswatini, with energy supply a key challenge. Economic Outlook: The IMF trimmed its growth forecasts for Eswatini to 3.7% in 2026 and 3.4% in 2027. Fuel Security: The King wants strategic fuel storage expanded from 60 to 90 days to help shield the economy from supply disruptions.

Sugar Sector: Ubombo Sugar has been named ABF Sugar Business of the Year for a second year, outperforming the group’s European and African operations despite a challenging business environment. Trade and Industry: Finance Minister Neal Rijkenberg called for stronger African trade and more value-added production, while Eswatini’s youth enterprise agency urged support for local manufacturers to reduce reliance on imports. Energy Security: King Mswati III wants the country’s strategic fuel storage increased from 60 to 90 days to guard against supply shocks. Economic Outlook: The IMF cut its Eswatini growth forecasts to 3.7% for 2026 and 3.4% for 2027. Business credit fell 4.8% in August, as lending to large firms dropped but SME credit rose. Regional Logistics: Maputo Port has launched a US$150 million dredging project to accommodate larger ships and strengthen a trade corridor serving Eswatini and its neighbours. Investment: Eswatini’s Airport City plan targets E12 billion in investment and 20,000 jobs by 2037.

Fuel Security: King Mswati has called for strategic oil storage to rise from 60 to 90 days to cushion Eswatini against supply disruptions. ESERA says tests found no water in fuel samples after contamination claims circulated online. Economic Outlook: The IMF cut its 2026 and 2027 growth forecasts to 3.7% and 3.4%. Finance Minister Neal Rijkenberg urged stronger African trade and more value-added production to reduce reliance on imported goods. Local Manufacturing: YERF says youth support should help entrepreneurs make goods locally, not just trade imported products. Industrialisation: The King urged Eswatini to develop industrial parks modelled on the proposed E6 billion Taiwan-backed park, noting that stronger energy supply is needed for growth. Investment: Eswatini’s airport authority is targeting E12 billion in investment and 20,000 jobs through its Airport City and Special Economic Zone plan by 2037. Blue Economy: A fisheries workshop is developing plans to use rivers and dams to create jobs, boost food security and cut fish imports.

Industrialisation: King Mswati III urged government and EmaSwati in Taiwan to build industrial parks across the country, using the proposed E6 billion Taiwan park as a model. He said reliable power and sustainable funding are essential. Local Manufacturing: YERF chief Mandla Nkambule called for stronger support to help young entrepreneurs make goods locally and reduce reliance on imports. Airport Investment: ESWACAA’s Airport City and Special Economic Zone plan targets E12 billion in investment and 20,000 jobs by 2037, with 40% of addressable spending earmarked for local SMEs. Business Credit: Private-sector credit fell 1.4% in August to E23.5 billion, as lending to businesses contracted 4.8%, pointing to softer business borrowing. Leather Industry: A proposed joint procurement framework aims to improve leather businesses’ access to production materials. Workforce Skills: RES awarded 82 workers certificates recognising workplace experience, creating a pathway to consideration for permanent employment.

Business Pulse: Private-sector credit fell 1.4% in August to E23.5 billion, as business borrowing dropped 4.8% — a sign of softer business activity despite annual credit growth. Investment & Jobs: ESWACAA’s Airport City and Special Economic Zone plan targets E12 billion in investment and 20,000 jobs by 2037, with 40% of addressable spending intended for local SMEs. Workforce: Royal Eswatini Sugar Corporation awarded 82 workers certificates recognising workplace skills, creating another route towards permanent employment. Industry & Infrastructure: A proposed joint procurement framework aims to help leather businesses secure production materials; the sector’s value chain could unlock an estimated E943 million. Meanwhile, updated assessments have advanced the Ethemba Dam project, though approvals are still needed before implementation. Energy Security: Lubhuku coal mining has yet to begin, leaving Eswatini reliant on imported electricity as technical studies continue.

Airport Investment: ESWACAA’s Airport City and Special Economic Zone plan targets E12 billion in investment and 20,000 jobs by 2037, with local SMEs earmarked for 40% of addressable spending. Skills and Jobs: Royal Eswatini Sugar Corporation awarded 82 workers certificates recognising workplace experience, opening a route to consideration for permanent roles. Agribusiness: Newly listed AGSPAC reported a E752,948 loss in its first 18 months, citing start-up and listing costs as it assesses farm-sector investments. Farmers are also being urged to track income and expenses to understand whether their operations are profitable. Infrastructure: Updated environmental and social assessments have advanced AfDB-backed plans for the Ethemba Dam and water-transfer tunnel, though approvals are still needed before construction. Local Industry: The government is developing a joint purchasing framework to help leather businesses secure production materials. Meanwhile, a report put foreign firms’ registered construction work at E6.13 billion in 2025/26—though this is not government spending alone. Services: Palazzo’s international events are creating opportunities for local tourism businesses, including transport, security, interpretation and entertainment providers.