…. Finance Minister Confirms Historic Clearance of Outstanding Invoices
… Timely settlement of supplier payments is expected to reinvigorate the private sector
By Mbongeni Ndlela
MBABANE – In a major victory for economic confidence and business stability, Government has fully cleared all outstanding payments to suppliers, marking a new chapter in fiscal responsibility and financial reform.
Addressing the nation in his latest “Finance in Focus” briefing, the Minister of Finance, Neal Rijkenberg, delivered a message of economic progress and restored trust. He confirmed that, as of July 2, 2025, every supplier who had submitted the required documentation to Treasury has been paid in full.
“This is truly good news,” he declared. “We have caught up with everybody. Every single supplier with valid paperwork has now been paid. We are in a very good position.”
This remarkable achievement was made possible by the successful disbursement of a US$100 million World Bank loan, which the country secured for budget support purposes. The funds were received late last week and immediately activated by the Accountant General’s office, which worked tirelessly to process payments between July 4 and 7.
Rijkenberg emphasized that clearing supplier arrears was not just about settling bills but about restoring confidence in government operations.
“Delayed payments have had a detrimental effect on our economy and our nation,” he acknowledged. “We are determined to ensure that such arrears become a thing of the past.”
In addition to World Bank funding, Eswatini is poised to benefit from US$47.5 million from the African Development Bank and US$50 million from the OPEC Fund, with processes now underway to secure those loans. These funds will ensure that government continues to meet its obligations without accumulating new arrears.
With increased revenue collection from the Eswatini Revenue Service (ERS) and a growing GDP, the country is now better positioned to manage its debt responsibly. “We are keeping our debt-to-GDP ratio at a manageable 41%,” said the Minister. “We are not increasing taxes, but broadening the tax base and improving efficiency.”
Rijkenberg also assured the public that the recent 30% tariff introduced by South Africa is not expected to directly affect Eswatini’s economy. While acknowledging potential indirect effects due to economic ties, he emphasized there is no need for alarm.
Looking Forward
The timely settlement of supplier payments is expected to reinvigorate the private sector, accelerate capital projects, and foster greater investor confidence. This move also reaffirms the Ministry of Finance’s commitment to transparency, accountability, and economic stability.
“We are turning a new page as a country,” said Rijkenberg. “This is a moment to be proud of.”
