The Chief Executive Officer of the Construction Industry Council (CIC), Maqhawe Mnisi, has issued a strong call for the creation of a state-backed Export-Import (Exim) Bank in Eswatini to help level the playing field for local construction companies and consultants competing for large infrastructure projects.
Mnisi made this appeal at the 2025 Construction Industry Council Stakeholder Forum, where he presented a report on the progress the Council has made over the past year, addressing key industry concerns raised previously.
According to Investopedia, an Eximbank, or Export-Import Bank, is a financial institution that supports domestic businesses in exporting goods and services by providing financing and other aid.
These banks often cooperate with their governments to promote national exports and facilitate global trade.
He stated that the difficulty in obtaining performance bonds and financial guarantees remains a major obstacle for many local contractors, especially for Small and Medium Enterprises (SMEs), preventing them from competing effectively in government tender processes.
“The government has already indicated efforts to work with banks to help EmaSwati access the collateral needed for tenders. But, banks view construction as a high-risk sector,” Mnisi explained.
“This is an ongoing process, but it might be time to initiate a broader discussion, including the establishment of an Eximbank.”
He proposed that such a financial institution, whether entirely or partly government-funded, could be tasked with supporting local participation in infrastructure development.
“We need a rule that once an infrastructure project begins, EmaSwati participation is mandatory, and local materials should be used,” he said.
Mnisi pointed out that international financiers often impose conditions favoring their own nationals in project execution. “Eswatini should adopt a similar approach, one that uses national financing to boost local economic empowerment and generate wider benefits for the domestic industry.”
“Perhaps it’s time we actively push for a local Eximbank. Let’s back our contractors and suppliers of materials with real, structured financial support,” he stated.
Although the CIC has engaged the Eswatini Bankers Association and a local development finance institution to develop products for SMEs in construction, Mnisi admitted progress has been slow.
“We hoped to have a workable framework by December last year, but it’s still in development,” he said, emphasizing that government support will be crucial to advance this initiative.
Mnisi reiterated CIC’s strategic aim to build a competitive and excellent construction industry, where local contractors and consultants are not only capable of delivering quality work on time and within budget but are also empowered to compete regionally and internationally.
“Our goal isn’t just winning tenders but being sufficiently competitive to qualify and deliver excellent results,” he said.
“We’re calling on project owners, both public and private, to create more opportunities for local participation. Even international partnerships should include skill transfer components.”
Mnisi also acknowledged notable progress over the past year, including the enactment of the Economic Empowerment Act, which mandates the inclusion of emaSwati in infrastructure projects. The CIC has played a key role in prioritizing the construction sector’s involvement under this law.
“The Act is a significant milestone. We’ve also helped ensure that industry associations influence the development of related regulations,” he noted.
He highlighted flagship projects such as the CBE Headquarters, a multi-billion Emalangeni project, as examples where the CIC facilitated discussions between project owners and local industry players to access opportunities.
In partnership with the Ministry of Public Works and Transport, CIC has also been reviewing its regulatory framework to better enforce standards and boost local involvement. A new CIC Bill is in progress, awaiting stakeholder approval before it moves to Parliament.
Additionally, Mnisi hinted at stronger consequence management, including the possibility of establishing a sector-specific tribunal to provide affordable, quick dispute resolutions outside traditional courts.