Minister of Finance Neal Rijkenberg has signaled a major turning point for Eswatini’s economy, announcing that the International Convention Centre and Five-Star Hotel (ICC & FISH) now officially named The Ezulwini Palazzo, is finally ready to move from a drain on the national budget to a primary driver of wealth.
Speaking during the latest episode of Finance in Focus, the Minister expressed a sense of relief and excitement that the facility has finally opened its doors. He described the project as a world-class asset that is now capable of going toe-to-toe with the best conferencing venues on the planet, finally putting the Kingdom on the map for high-end international business.
The journey to this point has been long and expensive, with the Minister acknowledging that a massive amount of capital has been poured into the ground to see this project through to completion. What started over a decade ago as a vision with an initial price tag of around E1 billion eventually grew into a significant financial undertaking. By the time the final fit-outs were completed in early 2026, the total investment had climbed to over E8 billion.
While these figures have sparked intense debate over the years, Rijkenberg’s focus is now firmly on the giving back phase. He argues that the facility is no longer just a construction project but a functioning engine that will immediately begin recouping its value through a massive boost to the tourism and conferencing sectors.
The strategy hinges on the lucrative world of international summits and trade exhibitions. Eswatini can now compete for global events that bring in high-spending delegates from across the globe. This influx of visitors is expected to create a ripple effect throughout the Ezulwini Valley and beyond, supporting local businesses, transport services, and the hospitality industry at large.
The Minister believes that the opening of the facility marks the end of the Kingdom’s investment fatigue and the start of a period where the national economy reaps the rewards of its patience. With the management being handled by international experts, the goal is to ensure that the revenue generated from world-class hosting duties finally starts to justify the years of heavy spending.