BY NONCEDO SHABANGU
MBABANE – Dr. Phil Mnisi, Governor of the Central Bank of Eswatini, has restated the Bank’s dedication to developing a strong, open, and inclusive capital market that drives sustainable economic growth and strengthens Eswatini’s standing as a trusted destination for global investment.
He made these remarks during the official launch of the Eswatini Capital Market, held at the Hilton Garden Inn in Mbabane. The landmark event drew together representatives from government, financial institutions, the Eswatini Stock Exchange, and international development partners, all committed to advancing the country’s financial sector.
In his keynote address, Dr. Mnisi described the launch as a strategic milestone for Eswatini. He underlined the vital role capital markets play in national development, explaining that they help mobilise domestic savings, improve access to finance, and broaden financial inclusion. “They strengthen the monetary policy framework and enable us to build a sound and efficient financial system,” he noted.
Building on this, the Governor affirmed the Central Bank’s commitment to establishing a capital market framework that aligns with international best practices in governance, transparency, and sustainability, while still catering to local economic realities. “We want to create a market that is not only globally competitive but also inclusive and sustainable,” he added.
To achieve this vision, Dr. Mnisi outlined several key initiatives currently underway at the Central Bank. Among them are improvements to the Central Securities Depository and the introduction of innovative financial instruments, including green bonds and sustainability-linked programmes tools designed to support environmental goals and attract responsible investment.
These developments are part of the Bank’s broader sustainability agenda. Dr. Mnisi highlighted projects such as the CBE Greening and Capacity Building on Climate Change initiative and the Bank’s role in advancing the National Financial Inclusion Strategy. Through these efforts, the Bank ensures that capital market growth is consistent with Environmental, Social, and Governance (ESG) principles.
Collaboration emerged as a central theme in the Governor’s address. He stressed that building a successful capital market requires strong partnerships between the public and private sectors. “As a Central Bank, we serve as an advisor and agent to government in the issuance and management of securities, and we are committed to maintaining a stable, reliable market environment,” he said.
Dr. Mnisi also took a moment to acknowledge the contributions of the Eswatini Stock Exchange in fostering investor confidence and supporting market development. He emphasised that Central Bank representatives remain actively engaged in shaping and regulating the capital market space to ensure it operates with integrity and accountability.
In closing, the Governor outlined four foundational pillars to guide the growth of Eswatini’s capital market:
- Let it be a reliable and well regulated industry.
- Let it attract local and international investors.
- Let it support innovation through sustainable finance.
- And let it integrate with global systems to reflect our readiness for the future.
The launch of the Eswatini Capital Market marks the beginning of a transformative journey. Through sustained collaboration, innovation, and policy alignment, Eswatini is poised to unlock new investment opportunities, stimulate entrepreneurship, and lay the foundation for long term economic resilience.
