The Central Bank of Eswatini (CBE) and the Bank of Mozambique have signed a Memorandum of Understanding (MoU) that will see Mozambique provide technical expertise for the construction of the new CBE Head Office in Ezulwini, a project set to become the tallest building in Eswatini.
Signed on Thursday, 13 November 2025, at the CBE Complex in Ezulwini, the MoU formalizes cooperation between the two central banks in key technical areas including civil and structural engineering, electrical and mechanical systems, technology infrastructure, and project management. The partnership aims to ensure that the new CBE headquarters meets international standards of modernity, safety, and sustainability.
CBE Governor Dr. Phil Mnisi hailed the agreement as a milestone in strengthening institutional capacity and regional cooperation within the Southern African Development Community (SADC). He said the new headquarters will be a state-of-the-art smart building targeting a four-star rating under the South African Council for Green Building standards.
“This collaboration reflects our commitment to regional solidarity, cooperation, and the collective pursuit of development,” Dr. Mnisi said. “By leveraging the expertise of the Bank of Mozambique, we will enhance the design, construction, and supervision of our new Central Bank complex, a symbol of stability, progress, and innovation for Eswatini.”
According to the CBE Governor, the Bank of Mozambique has already provided invaluable support during the tendering process, guiding CBE’s engineering and architecture teams to ensure the project’s readiness and compliance with high technical standards.
“When we requested technical support for the proper implementation of the project, the Bank of Mozambique responded without hesitation,” Dr. Mnisi added. “Their expertise in civil and structural engineering, technology, and project management will add substantial value to our project.”
Under the agreement, both central banks have committed to continuous engagement through joint review sessions, technical working groups, and consultative meetings to monitor progress. The cooperation also aims to facilitate skills transfer and improve risk management throughout the construction phase.
Bank of Mozambique Governor, Dr. Rogério Zandamela, described the partnership as an important step in strengthening the longstanding relationship between the two institutions. He said the MoU underscores the shared vision of promoting institutional excellence and regional integration among central banks in SADC.
“We are deeply honoured by the confidence that the Central Bank of Eswatini has placed in us,” Dr. Zandamela said. “This cooperation is both recognition of our experience and a renewed commitment to the spirit of solidarity that binds our nations.”
He noted that Mozambique’s participation will draw on its experience in managing large-scale infrastructure projects, including the construction of its own headquarters tower and other modern facilities across Mozambique’s provinces.
“We are confident that, by working closely with the dedicated team of the Central Bank of Eswatini, our staff will achieve tangible progress in areas such as civil and structural engineering, electrical, mechanical and hydraulic systems, technology infrastructure, and physical security,” he said.
The new CBE Headquarters, recently handed over to the Engineering, Procurement, and Construction (EPC) contractor, will serve as a major landmark in Eswatini’s financial landscape. Designed to be environmentally sustainable and technologically advanced, it will also reflect Eswatini’s growing emphasis on institutional resilience and green development.