By Sizwe Dlamini
The Central Bank of Eswatini (CBE) has unveiled a significant opportunity for local construction companies as it embarks on building its new headquarters in Ezulwini.
With a focus on fostering local industry and skills development, the CBE has committed to allocating at least 30% of the design-build contractor role to local partnerships and will further engage local firms in construction supervision roles.
During a media briefing held yesterday at the CBE headquarters in Mbabane, Governor, Dr. Phil Mnisi, announced that the project, now in its initial phase, will be split into four phases and is expected to be operational by June 2028.
Phase 1 of the project will focus on essential infrastructure and is anticipated to begin in June 2025 following the signing of a design-build agreement by May of that year.
“I am excited to report progress on the Bank’s ambitious project in Ezulwini,” Dr. Mnisi stated. “The project is currently in Phase 1, with CECI Consulting Engineers, a Taiwanese government-owned company with a strong background in high-rise structures, appointed as the project manager.”
Mnisi highlighted that CECI’s mandate includes preliminary design development, carried out in partnership with local sub-consultants to ensure alignment with Eswatini’s standards and regulations.
The CBE’s headquarters will be built on a 20-hectare plot and feature state-of-the-art facilities across four phases. According to Dr. Mnisi, Phase 1 will encompass an 18-story office tower along with a data center, innovation hub, and museum.
Phase 2 will bring a cash center, center of excellence, wellness center, clinic, and conference facility.
Phase 3 will add a sports complex, staff accommodations, and a solar-paneled car park, while Phase 4 will complete the project with a multi-purpose hall.
As part of its commitment to fair and transparent procurement, the CBE will conduct an international open tender for Phase 1 early in 2025.
“Our procurement process will uphold transparency, fairness, and accountability, following international best practices,” Dr. Mnisi explained. He further noted that only shortlisted partnerships will be invited to bid on the design-build contract, with independent evaluators and a verification exercise in place to ensure the authenticity of all bids.
Recognizing the value of local expertise, Dr. Mnisi revealed that a local team would oversee construction supervision. The bank will conduct a limited tender process for this role, creating further opportunities for the local construction sector.
“Local participation is encouraged in areas such as the design-build contractor role, where we will mandate a minimum 30% local partnership to ensure skills transfer. Additionally, a team from Eswatini will be engaged for construction supervision.”
In preparation for the new headquarters, the CBE has already engaged local firms for renovations at the Ezulwini site, involving architects, consulting engineers, and contractors.
Key stakeholders including the Ezulwini Municipal Council, Eswatini Environmental Authority (EEA), and the Construction Industry Council (CIC), have been consulted to ensure smooth project implementation.
The Governor further assured that the Bank will periodically release project updates to maintain transparency and keep stakeholders informed.
“Specific information about all phases will be shared periodically or on a need-to-know basis, adhering to our procurement policy aligned with international standards,” he concluded.