Eswatini’s New Investment Policy to Improve Local Participation 


By Nkhosinathi Manyika

The Minister of Commerce, Industry, and Trade, Manqoba Khumalo has announced that the Ministry is currently reviewing a new investment policy to execute some of its strategies.

Khumalo disclosed this during the Eswatini UNCT Retreat 2024, themed “Sustainable Development on the Brink of 2030,” which was hosted by the UN in Eswatini at the UN House in Mbabane on August 28, 2024.

This investment policy is being developed with the assistance of the United Nations and aligns with Eswatini’s National AFCFTA Implementation Strategy, which aims to boost trade and investment opportunities across the continent.

The new investment policy aims to establish “stage gates” for local SMEs with the right capacity, allowing them to participate in ensuring the circulation of money within the country. 

Khumalo clarified that the investment policy is not intended to disadvantage foreign investors; rather, it seeks to level the playing field for EmaSwati, as the current landscape is not equitable. The policy also aims to ensure that there are intentional efforts to provide EmaSwati with advantages in the investment environment.

The Minister emphasized that “Nkwe” is not just a strategy but a culture of execution, highlighting the need to cultivate a culture of execution and competency among organizations and various sectors in Eswatini. 

“We, as the Ministry of Commerce, are working diligently in the background to ensure that our state-owned enterprises have the right people in the right positions,” Khumalo said.

Furthermore, the government is consulting with selected stakeholders from both the public and private sectors during the regulatory process. Public consultations will be announced for stakeholder meetings, indicating an effort to involve the community in discussions about investment policies and regulations.

Minister Khumalo concluded by stressing the importance of maintaining a welcoming environment for foreign investors. 

“As a country, we do not want to send the wrong message to foreign investors. We are moving swiftly to attract investment from all sources, ensuring that the economic benefits are distributed equitably among all emaSwati,” he said.

This new investment policy complements Eswatini’s broader development framework, which aims to diversify export markets and stimulate industrialization while promoting productivity and enabling local businesses to benefit from national, regional, and continental value chains.


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