AGP Executive Report

Industrial Benchmark: Morocco has overtaken South Africa as Africa’s most industrialised economy in the AfDB Africa Industrialisation Index 2025, with Senegal and Côte d’Ivoire breaking into the top 10—an early signal of shifting industrial gravity. Creative IP & Fashion: Eswatini’s IP Runway showcase linked fashion, furniture and arts to formal intellectual property protection, pushing designers toward global market readiness. Fintech & Payments: MTN’s H1 results show service revenue up 17.5% and Mobile Money momentum, while Eswatini’s mobile money customers face limits on earning interest on trust funds—raising questions on who benefits. Energy & Infrastructure: Lower Maguduza hydropower adds 13.5MW in January, and two emaSwati infrastructure professionals earned continental recognition. Water & Food Security: EWSC launched “Konkhe nga Water” for smarter use, and PM Dlamini met WFP to back grain reserves and school feeding. Trade & Industry Costs: A 24% edible oil levy was deferred to Jan 2027 after Business Eswatini intervention. Digital Skills & AI: RSTP is promoting practical AI use for agriculture, health and education ahead of the trade fair. Regional Diplomacy: King Mswati III returned after SADC and Malaysia engagements, including talks on rail and road development. Currency Update: The Central Bank will introduce a limited-edition E10 commemorative coin to co-circulate with the existing banknote. Security Advisory: China urged citizens to evacuate Eswatini, citing online fraud and safety risks.

Security Advisory: China urged its citizens to evacuate Eswatini, citing “complex” conditions, online fraud and illegal gambling risks, and warning that help may be delayed. Telecom & Fintech: MTN moved its MoMo platform to cloud-native infrastructure (with Ericsson) across Eswatini, Ghana, Rwanda and Uganda, aiming for faster performance and smoother digital services. Mobile Money Policy: A Senate question raised concerns that MoMo customers can’t benefit from interest on trust-held funds, with regulators restricting payouts. Energy & Power: Lower Maguduza Hydropower is set to add 13.5MW in January, boosting domestic generation and reducing reliance on imported electricity. Water Use: EWSC launched “Konkhe nga Water” to push smarter water consumption and improve customer engagement through technology. Food Security: PM met WFP to seek support for national grain reserves and a stronger school feeding concept, as El Niño threatens supply risks. Trade & Industry: 24% edible oil levy implementation was delayed to Jan 2027 after Business Eswatini engagement. Regional Ties: PM and President Lai pledged deeper Eswatini–Taiwan cooperation across health, education, skills, agriculture and renewable energy.

Eswatini–Taiwan Push: PM Russell Dlamini met Taiwan President Lai Ching-te in Taipei, pledging deeper cooperation across trade and investment, manufacturing and agro-processing, digital transformation, healthcare, education, agriculture, renewable energy and youth skills. AI Governance for Industry: At the Ketagalan Forum, Eswatini urged ethical AI with human dignity at the centre, alongside more agriculture investment and practical partnerships. Food Security Measures: PM also sought WFP backing for national grain reserves and a stronger school feeding concept to cut import reliance and improve nutrition outcomes. Mobile Money Rules: Senate questioned why MoMo/e-Mali customers can’t benefit from interest on trust funds, spotlighting how regulation shapes fintech growth. Edible Oil Levy Delayed: A proposed 24% edible oil import levy was pushed from Sept 1, 2026 to Jan 1, 2027 after Business Eswatini intervention. Energy Supply Boost: Lower Maguduza Hydropower adds 13.5MW in January, lifting local generation and reducing imported power dependence. Infrastructure Policy Shift: A new construction policy flags weak maintenance as a risk and calls for a full infrastructure life-cycle approach. Digital Infrastructure Upgrade: MTN completed cloud-native MoMo migration with Ericsson, aiming for faster, more reliable mobile money services. Supply Chain Recognition: Winners were announced for the Africa Supply Chain Excellence Awards, with Eswatini-linked logistics and health supply initiatives highlighted.

SADC & Security Leadership: King Mswati III returned home after the SADC Summit in Durban and a Malaysia visit, where he was elected Chairperson of the SADC Organ Troika on Politics, Defence and Security Cooperation—placing Eswatini at the centre of regional peace and stability efforts. Food Security & Trade Resilience: The Prime Minister met the World Food Programme to seek WFP backing for national grain reserves and a stronger school feeding concept, aiming to cut import reliance and improve local procurement as El Niño risks loom. Energy & Infrastructure Delivery: Lower Maguduza Hydropower is set to add 13.5MW in January, while EEC is also tendering a 10MW Maguga expansion unit—both moves to boost domestic generation and unlock engineering and financing opportunities. Mobile Money Modernisation: MTN Group Fintech and Ericsson completed cloud-native MoMo migration in Eswatini (plus Ghana, Rwanda, Uganda), improving performance and supporting digital financial services growth. Logistics & Exports: Grindrod ports reported record export volumes, with Maputo’s dry bulk terminal hitting 8.4 million tonnes in H1 and Matola handling 4.2 million tonnes. Industry Skills & Creative Growth: ENCAC’s NACA circuit continues with training for 110 NACA award recipients, while Manzini creatives received certificates as regional NACAs wrapped up. El Niño Agriculture Response: Government is urging commercial irrigated farms to set aside estate portions for food production to cushion drought shocks.

Energy & Infrastructure: Lower Maguduza Hydropower Project is set to add 13.5MW of locally generated power in January, boosting Eswatini’s generation by about 20% and easing reliance on imports. Recognition for Industry Talent: Two emaSwati professionals—Zizwe Vilane and Nosipho Simelane—have been nominated among Africa’s Top 100 influential infrastructure figures, with a September shortlist and an Accra delegation planned for November. Mobile Money Modernisation: Ericsson and MTN Group Fintech completed a cloud-native migration of MoMo in Eswatini (plus Ghana, Rwanda and Uganda), cutting processing overhead and speeding APIs to support digital finance growth. Trade & Connectivity: Jenny Internet injects E570,000 to provide free Wi‑Fi at the Eswatini International Trade Fair, aiming to keep exhibitors and visitors connected for transactions and outreach. Food Security Planning: Government is engaging irrigated commercial farms to set aside portions for food production as El Niño signals strengthen drought risk. Construction & Compliance: Eswatini’s construction policy flags maintenance gaps, while separate reporting warns that unqualified project teams on Bhunu Mall could face jail under professional regulations. Legal & Tax: ERS loses a bid to proceed with a late review in its E77m tax dispute with USA Distillers. Agriculture & Skills: UNESWA Luyengo Campus wins Enactus Eswatini for turning agricultural waste into fertiliser, earning E20,000.

Trade Fair Connectivity Boost: Jenny Internet injects E570,000 into EITF free Wi‑Fi, its third straight year as Wi‑Fi sponsor, aiming to keep exhibitors and visitors connected for online transactions and digital engagement. Mobile Money Modernisation: MTN Group Fintech and Ericsson complete MoMo migration to cloud-native infrastructure in Eswatini (plus Ghana, Rwanda, Uganda), cutting CPU overhead and speeding API responses to support faster, more reliable digital payments. Business Growth via Digital Sales: A local desk snapshot finds social media is now driving sales—businesses use Facebook/Instagram/WhatsApp for enquiries, orders and payments, especially among small and emerging firms. Food Security Planning: With El Niño signals strengthening, government is urging irrigated commercial farms to set aside land for food production to cushion drought risk. Energy Project Pipeline: EEC launches an opportunity for a 10MW hydropower unit expansion at Maguga, seeking EPC and financing partners to close a funding gap. Tax Case Update: ERS loses a bid to proceed with a late review in its USA Distillers E77m tax dispute, after the High Court refused condonation. Construction Compliance Watch: Bhunu Mall scrutiny intensifies as reports question whether the project manager and consultancy arrangements meet AESAP and building law requirements. Aviation Skills Push: ESWACAA launches a Gender Equality Friday initiative to grow women’s participation across aviation roles, citing major under-representation. Arts & Talent Development: ENCAC’s NACA awards continue to translate recognition into training, with 110 NACA recipients set for professional music development.

Mobile Money Modernisation: Ericsson and MTN Group Fintech have completed Mobile Money (MoMo) Evolved Migration in Eswatini and other markets, moving to a cloud-native setup aimed at faster API performance and easier scaling for digital finance growth under Ambition 2030. Infrastructure Policy Shift: Eswatini’s construction policy flags a “build, forget” problem, pushing a full infrastructure life-cycle approach that links financing, design, construction, operation, maintenance, retrofitting and end-of-life management. Tax Dispute Update: The Eswatini Revenue Service (ERS) has lost a bid to proceed with a late review in its E77m tax case against USA Distillers, after the High Court refused condonation. Power & Engineering Pipeline: EEC has opened a tender for an additional 10MW hydropower unit at Maguga, seeking EPC and financing partners to close a funding gap. Aviation Skills Push: ESWACAA launched a Gender Equality Friday initiative to boost women’s participation across aviation roles, from engineering to air traffic control. Arts & Culture: Manzini creatives received NACAs certificates, with awards highlighting local talent and cultural contribution. Construction Safety & Compliance: Engineers and legal coverage around the Bhunu Mall collapse raise serious questions about statutory compliance and contractor qualifications. Energy Futures: Eswatini signalled interest in nuclear power at US-Africa Nuclear Energy Summit, stressing capability-building before any infrastructure is built.

Energy & Infrastructure: EEC has opened an RFP to add a third 10MW unit at Maguga Hydropower Station, aiming to unlock delayed expansion by closing a financing gap. Power & Industry Tech: Ericsson and MTN Group Fintech completed a Mobile Money platform migration in Eswatini and other markets, boosting performance and supporting Ambition 2030. Nuclear Energy Watch: Eswatini told the US-Africa Nuclear Energy Summit it will only consider nuclear after building national nuclear capability first. Aviation & Jobs: ESWACAA launched a Gender Equality Friday push to grow women’s participation across aviation roles. Construction Compliance & Safety: Engineers say the Bhunu Mall collapse may reflect contractor shortcomings, while a separate report warns project teams could face jail or fines if statutory engineering roles weren’t properly met. Land & Housing Pressure: The Land Management Board says people building near cattle dip tanks must halt work as it reviews land allocations and grazing impacts. Finance & Business: SBS Bank Eswatini set its first AGM for Sept 4 after conversion to a commercial bank. Agriculture & Health: South Africa says foot-and-mouth disease is under control and has provided 50,000 vaccine doses to Eswatini, Namibia and Lesotho for preparedness. Media & Community: ESCCOM granted Sakha Live FM a Free-to-Air commercial radio licence to broaden local broadcasting and opportunities.

Energy & Infrastructure: EEC has launched a tender to add a 10MW hydropower unit at Maguga, seeking EPC contractors and financing partners to close a funding gap that stalled expansion. Nuclear Watch: Eswatini says it will “build nuclear capability first” after participating in US-ANES 2026, treating nuclear as one option alongside renewables, storage and regional power trade. Digital Finance: Ericsson and MTN Group Fintech completed Mobile Money Evolved Migration in Eswatini, aiming for faster performance and a stronger base for Ambition 2030. Aviation & Jobs: ESWACAA rolled out a Gender Equality Friday initiative to boost women’s participation across aviation engineering, air traffic control and leadership roles. Construction Accountability: The Bhunu Mall collapse case escalates as engineers flag possible shortcomings and reports say the project manager may not meet legal engineering qualifications, with jail time possible. Land & Housing Pressure: LMB warns hill and mountain allocations could lead to demolitions, with construction near cattle dip tanks also ordered to stop. Media & Industry Growth: ESCCOM granted Sakha Live FM a Free-to-Air commercial radio licence, expanding the broadcasting market. Regional Agriculture Health: South Africa says foot-and-mouth disease is under control and provided 50,000 vaccine doses to Eswatini, Namibia and Lesotho for preparedness. Aviation Emissions: Eswatini Air joined IATA CO2 Connect to voluntarily report passenger carbon emissions using standardized fuel-burn data.

Aviation & Gender: Eswatini Civil Aviation Authority (ESWACAA) launched a Gender Equality Friday push to boost women’s participation in aviation, citing major gaps in engineering and air traffic control. Digital Finance: Ericsson and MTN Group Fintech completed Mobile Money Evolved Migration in Eswatini and other markets, aiming for faster API responses and a stronger base for Ambition 2030. Agri-Entrepreneurship: UNESWA Luyengo Campus won Enactus Eswatini national champions for turning agricultural waste into fertiliser, taking home E20,000. Construction & Compliance: Bhunu Mall’s renovation fallout continues, with engineers raising concerns about contractor shortcomings after a wall collapse and fatal incident. Land Use Enforcement: Land Management Board ordered construction to stop near cattle dip tanks at Siphocosini Umphakatsi, after complaints about grazing encroachment and safety. Roads & Industry: Probase Manufacturing and Exim Bank secured King’s backing for tarring about 250km of untarred roads, with local jobs and long-term maintenance plans. Banking Transition: SBS Bank Eswatini set its first AGM for Sept 4 after converting from Swaziland Building Society. Regional Integration: King Mswati III assumed SADC Organ on Politics, Defence and Security Cooperation chairmanship as SADC leaders backed industrialisation and infrastructure-led growth.

Aviation & Women in Work: ESWACAA launched a Gender Equality Friday initiative at King Mswati III International Airport to boost women’s participation in aviation, citing gaps in engineering, air traffic control and piloting. Digital Finance: Ericsson and MTN Group Fintech completed Mobile Money Evolved Migration across Eswatini and other markets, aiming for faster API responses and a cloud-native base for Ambition 2030. Agri Innovation: UNESWA Luyengo Campus won Enactus Eswatini national champions for turning agricultural waste into fertiliser, taking home E20 000 and a third straight title. Construction & Compliance: Engineers raised concerns after the Bhunu Mall collapse, while separate reporting says the Bhunu Mall project manager may not be properly registered as an engineering consultancy. Land & Safety: The Land Management Board warned hill and mountain homesteads may face demolition as it finalises enforcement policy. Infrastructure & Jobs: Probase and Exim Bank assured King Mswati III that about 250km of roads will be tarred at around E1.6bn, with local hiring for maintenance. Sports & Business: EIPA backed the 8Bet Trade Fair Cup with E200 000 kits for 16 Premier League teams, framing football as a business opportunity. Media & Youth: ESCCOM granted Sakha Live FM a Free-to-Air Commercial Radio licence, positioning it as a platform for jobs, entrepreneurship and skills. Regional Integration: King Mswati III assumed SADC Organ on Politics, Defence and Security Cooperation chairmanship, aligning Eswatini with the bloc’s industrialisation and infrastructure push.

Mobile Money Upgrade: Ericsson and MTN Group Fintech completed the Mobile Money Evolved Migration across key markets including Eswatini, moving to a cloud-native setup that boosts performance and supports MTN’s Ambition 2030. Women in Aviation: ESWACAA launched a Gender Equality Friday initiative at King Mswati III International Airport to raise women’s participation in aviation, citing gaps in engineering and air traffic control. Agri Waste to Fertiliser: UNESWA Luyengo Campus won Enactus Eswatini national champions for turning broiler chicken feathers and leaves into organic manure, taking home E20,000. Aviation Leadership Change: RENAC board and GCEO Captain President Qiniso Dhlamini’s tenures end on August 31, with milestones including the revival of Eswatini Air. Construction Compliance Alarm: Engineers flagged possible shortcomings in Bhunu Mall work after a wall/structure collapse during renovations, raising questions about project manager qualifications and statutory registration. Roads & Industry Finance: Probase Manufacturing, backed by Exim Bank, assured King Mswati III that 250km of untarred roads will be tarred at about E1.6bn, with local jobs and long-term maintenance plans. SADC Integration vs Tensions: New SADC leadership reshuffles roles as the bloc pushes industrialisation and regional trade while migration and xenophobia tensions remain a pressure point. Co-op Funds Probe: A forensic investigation is set after alleged disappearance of about E2.5m from Lutsango LwakaNgwane Multi-purpose Cooperative, following member complaints and an earlier inspection deficit finding. Radio Licensing: ESCCOM awarded Sakha Live FM a Free-to-Air Commercial Radio Broadcasting Licence, aiming to diversify airwaves and connect youth to jobs and opportunities.

Construction & Compliance: Engineers probing the Bhunu Mall collapse say the contractor may have fallen short on statutory requirements, after a wall/structure reportedly detached and killed an Identity Clothing employee; separate reporting also flags that the Bhunu Mall project manager is not registered as an engineer or engineering consultancy with the Construction Industry Council. Land & Livestock Infrastructure: The Land Management Board ordered construction to stop near cattle dip tanks at Siphocosini Umphakatsi, citing encroachment on communal grazing land and risks to dip-tank safety and operations. Transport & Industry Investment: King Mswati III met Malaysia’s SMH Rail to invite investment and a southern Africa base in Eswatini, while Probase and Exim Bank backed a plan to tar about 250km of roads at around E1.6bn, with local jobs and long-term maintenance. Aviation & Environment: Eswatini Air joined IATA CO2 Connect to voluntarily report emissions using actual fuel-burn data. Governance & Jobs: RENAC board and CEO terms end on Aug 31; RSTP CEO recruitment drags on with a fresh advert, and Eswatini’s borrowing approach is urged to shift toward productive investment via OPEC Fund talks. Media & Licensing: ESCCOM awarded Sakha Live FM a Free-to-Air Commercial Radio licence. Finance: SBS Bank Eswatini set its first AGM for Sept 4 after conversion to a commercial bank. Climate Risk: NDRMA warns El Niño odds have risen to above 90% for a very strong event, pushing preparedness.

Infrastructure & Industry Investment: King Mswati III met Malaysia’s SMH Rail and invited the firm to invest and set up a Southern Africa base in Eswatini, aligning with SADC’s push for industrialisation through infrastructure. Roads & Local Jobs: Probase Manufacturing, backed by Exim Bank, assured the King that about 250km of untarred roads will be tarred at a cost of roughly E1.6bn, with maintenance jobs for locals over 15 years. Construction Oversight: Engineers raised concerns over possible shortcomings in Bhunu Mall renovations after a wall/structure collapse killed an employee and injured others; meanwhile, a new construction policy flags corruption and weak tendering in the E1.4bn sector. Land Use & Livestock: The Land Management Board ordered construction to halt near cattle dip tanks at Siphocosini Umphakatsi after complaints of encroachment on communal grazing land. Banking Transition: SBS Bank Eswatini announced its first AGM for September 4, marking its shift from building society to commercial bank. Aviation & Sustainability: Eswatini Air joined IATA CO2 Connect to voluntarily report emissions and support lower green air gases. Regional Trade & Security: King Mswati III assumed chairmanship of SADC’s Politics, Defence and Security Troika as summit leaders backed industrialisation, agriculture and regional integration. Agriculture & Climate Risk: NDRMA warned of a very strong El Niño risk (over 90% chance), urging stronger preparedness.

Roads & Industry Finance: Probase Manufacturing and Exim Bank have assured King Mswati III that about 250km of untarred roads across Eswatini’s four regions will be tarred under a roughly E1.6bn programme, with local hiring for maintenance over 15 years and temporary jobs during construction. Construction Oversight: Engineers inspecting the Bhunu Mall collapse in Manzini say preliminary signs point to possible contractor shortcomings, after a concrete structure reportedly detached and fell, killing one shop employee and injuring four others. Land & Livestock Pressure: The Land Management Board ordered construction to stop near cattle dip tanks at Siphocosini Umphakatsi, citing encroachment on communal grazing land and risks to livestock farming and dip-tank safety. Banking Transition: SBS Bank Eswatini heads into its first AGM on September 4, as it finalises its conversion from Swaziland Building Society into a commercial bank. Regional Industrialisation: King Mswati III assumed the SADC Organ on Politics, Defence and Security Cooperation chairmanship, while the SADC summit backed industrialisation, infrastructure, agriculture, critical minerals and regional trade integration. Trade & Jobs Focus: Government is validating a new National Trade Policy aimed at wider export markets, stronger local businesses and better support for MSMEs, women and youth, including trade facilitation and reduced non-tariff barriers. Climate Risk: NDRMA warns El Niño has a more than 90% chance of becoming “very strong,” urging stronger national preparedness. Aviation Emissions: Eswatini Air joined IATA CO2 Connect to voluntarily report passenger carbon emissions and support reductions in green air gases. Agriculture & Food Security: IFAD data supports Eswatini’s aquaculture push, as government expands inland fish farming through the Maguga Dam project to cut imports and create jobs.

SADC Industrial Push: At the Durban summit, leaders backed industrialisation, regional integration and a new SADC Tourism UNIVISA, with critical minerals, infrastructure and agricultural transformation at the centre of the agenda. Regional Security Leadership: King Mswati III assumed chairmanship of the SADC Organ on Politics, Defence and Security Cooperation, signalling continuity on peace and security priorities. Productive Borrowing: Prime Minister Russell Dlamini urged a shift from budget support to financing that drives jobs and productive investment as the OPEC Fund explores expanded agricultural support. Trade Policy for Growth: Government is validating a new National Trade Policy aimed at wider export markets and stronger local MSMEs, with a focus on trade facilitation and cutting non-tariff barriers. Construction Integrity: A new National Construction Industry Policy flags corruption and weak tender processes in the E1.4bn sector, calling for tighter oversight and fair competition. Energy & Aviation Greening: Eswatini Air joined IATA CO2 Connect to report emissions, while Eswatini is also urged to strengthen energy security through renewables. Agriculture & Jobs: IFAD data supports Eswatini’s aquaculture job push, and farmers are advised to prepare soils for spring. Local Business & Community: Mhlume Country Club hosts family live-music events, while SNAT Big Bend launches a half marathon to fund its offices. Finance Watch: CBE posted E40.8m profit for FY ended March 31, 2026, though comprehensive results turned negative after revaluation losses.