The Central Bank of Eswatini (CBE) has injected E160 million into the local economy through the engagement of over 30 Swazi firms in the construction of its new headquarters in Ezulwini.
This was revealed by the CBE Governor, Dr. Phil Mnisi, when presenting the CBE’s 2024/25 Annual Integrated Report on Friday.
In a deliberate effort to stimulate local economic activity, the Governor said the Bank has partnered with homegrown firms in engineering, construction, and consultancy, ensuring that the project becomes not just a symbol of institutional strength but also a driver of community upliftment.
“By mid-2025, we had already engaged over 30 local firms in the Ezulwini Project, committing E160 million to the domestic economy,” the Governor reported, adding that this was a demonstration of its commitment to inclusive development and stakeholder value creation.
According to the CBE’s 2024/25 Annual Integrated Report, the development “set on 21 hectares of land acquired in November 2023 “ will be implemented in four phases, with Phase I featuring a 21-floor smart building that meets international green building standards.
The structure, designed to accommodate up to 1,000 employees, will also house a museum, innovation hub, and library, all connected by modern skywalks. Later phases will include a conference and training centre, wellness centre, sporting facilities, staff apartments, and a multipurpose hall.
Progress is well underway, with geotechnical and traffic impact assessments already completed, alongside preliminary designs and an expression of interest. The Environmental Impact Analysis and Request for Proposals are scheduled for completion by May and August 2025, respectively.
The report further states that the entire building is expected to be completed and formally handed over to the Bank in June 2028.
Once complete, the complex is expected to serve as a regional beacon of innovation and resilience, positioning Eswatinis financial sector as a modern hub while contributing to employment creation, skills transfer, and economic diversification.