An Overview of The Kingdom of Eswatini's Economy

ESWATINI REVIEW

“One’s destination is never a place, but a new way of seeing things.” Henry Miller

The publishers gratefully acknowledge particular sources of editorial information which include the King’s Office, Prime Minister’s Office, Eswatini Government Ministries and Departments, Central Bank of Eswatini, Eswatini Investment Promotion Authority, Eswatini Tourism Authority/The Geo Group, Eswatini Environment Authority, Eswatini Sugar Association, Eswatini Electricity Company, Eswatini Water & Agricultural Development Enterprises Ltd, Eswatini Water Services Corporation and Eswatini Railways

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WELCOME TO THE ESWATINI REVIEW

Senator Manqoba Khumalo Minister of Commerce, Industry and Trade

The Government of Eswatini (GoE) is pleased to announce that despite the unfavourable circumstances visited upon the Kingdom by COVID-19, it was nevertheless able to realise 49 new Foreign Direct and Domestic investments along with 11 381 employment opportunities. These welcome reversals in fortune from a scenario hallmarked by 1 702 job redundancies were witnessed in sectors such as Retail, Banking and Finance, Property Development and Real Estate, Transport Infrastructure, Storage and Distribution, Logistics, and others.

Introduction

Emaswati are descendants of the Bantu who originated in the Benue-Cross region of West Africa. After migrating to the Great Lakes in the 15th century, the Bantu Swati headed further east-southeast before following the Indian Ocean coastline into present-day Mozambique. The nation’s forerunners then ventured inland, thus beginning the modern history of the Kingdom of Eswatini. After conquering neighbouring chiefdoms and kingdoms characterised by the Sotho Nguni tribes, Emaswati employed diplomacy and arranged marriages to create strategic alliances with neighbouring states. In the 1820s to 1840s, the use of regiments in warfare again rose to prominence when the entire Southern African region underwent radical state-building, fuelled by the reign of King Shaka of the Zulu. White adventurers and fortune-hunters began arriving in Eswatini during the 1840s, leading to Boer and British vying for administrative domination of the kingdom. The Lion of Eswatini – King Sobhuza II - was born while these powers were engaged in the Anglo-Boer War, at the conclusion of which Britain began its 66-year rule of Eswatini as a Protectorate. Immediately upon his coming-of-age, the young monarch began his quest to recover land belonging to Emaswati which, it was claimed by Colonial concession holders of the time, had been ceded to them by earlier royal decree.

ACKNOWLEDGEMENTS

Published by Swazi Review of Commerce and Industry (Pty) Ltd
PO Box 6250, Mbabane, Eswatini
Marketing & Advertising:
Jen Du Preez – jen@azalea.co.za – +27 31 564 3425
Research & Editorial Content:
Grant Collard
Design & Layout:
Lyn Grandemange, Azalea Promotions – grandemangelyn@gmail.com

CONTENTS

FOREWORD

INTRODUCTION

FOREIGN TRADE & INVESTMENT

MANU, COMMERCE, MINING

TOURISM & HOSPITALITY

ENVIRONMENTAL MANAGEMENT

AGRICULTURE

ENERGY

WATER RESOURCES

CONSTRUCTION

TRANSPORT INFRASTRUCTURE

COMMUNICATIONS

BANKING, FINANCE & INSURANCE

HEALTHCARE

EDUCATION & TRAINING

USEFUL INFORMATION