His Majesty King Mswati III has praised the Eswatini National Provident Fund (ENPF) for its impressive growth and dedication to improving the lives of the country’s workers, revealing that the fund has disbursed a total of E3.1 billion to members since it began.
Speaking at the ENPF’s 50th Anniversary Gala Dinner at the Mavuso Trade and Exhibition Centre, the King called the payout a harvest from a visionary seed planted in 1974 by King Sobhuza II.
“The E3.1 billion issued to members at the end of their service is something worth celebrating,” said His Majesty. “The ENPF deserves applause for a job well done.”
His Majesty also commended the Fund for its strict investment policies and its focus on local economic growth. He highlighted the Fund’s compliance with the government’s requirement to invest at least 30% of its assets within the country, mentioning sectors like tourism, agriculture, hospitality, and health.
“While investing outside the country might seem profitable, the policy of investing locally must be followed,” he emphasized. “I encourage other financial institutions to learn from ENPF’s example and reinvest in the local economy to create opportunities for our people.”
In a rare and significant remark, His Majesty discussed the issue of corruption, noting with satisfaction that no cases have been reported against the ENPF in its 50-year history.
“This is commendable,” the King said. “Institutions like ENPF must keep this clean record. Let us prevent corruption and keep rats out of such vital institutions.”
Reflecting on the institution’s origins, the King recalled that King Sobhuza II established the Fund in response to the struggles of workers who retired without financial security.
“He saw the hardship of many who worked hard but retired empty-handed. That is why he planted this seed, so that EmaSwati could retire with dignity,” he explained.
The King also praised past and current leaders of the ENPF for expanding the institution and making wise investment choices. “Planning investments and using member contributions is not easy,” he acknowledged. “But today, we see the fruits of disciplined and responsible leadership.”
His Majesty also commented on the country’s overall economy, stating that Eswatini’s economy continues to grow. He shared that during a recent summit in Spain, international investors showed strong interest in the Kingdom’s 7% economic growth, which he said offers opportunities for local business leaders to drive further progress.
“We must position ourselves to access global funding opportunities. Eswatini must not be left behind,” he urged.