BY SIFISO NHLABATSI
MBABANE– Eswatini’s long-standing foreign policy of “Anginasitsa” (I have no enemy) is placing the country in a favourable position to attract new investment as geopolitical tensions reshape global investment patterns.
Eswatini Investment Promotion Authority (EIPA) Chief Executive Officer Sibani Mngomezulu has disclosed.
Addressing a press conference at Mountain View on Tuesday, Mngomezulu said the Kingdom’s neutral foreign policy and cordial diplomatic relations with countries across different regions of the world were creating opportunities that may not have existed under normal circumstances.
He made the remarks while responding to questions on how the ongoing tensions in the Middle East and changing international relations could affect Eswatini’s investment prospects.
Mngomezulu said investors who would traditionally have expanded into larger economies were increasingly considering alternative destinations, with Eswatini emerging as one of the countries attracting attention.
He explained that some countries were reassessing where to invest due to geopolitical uncertainty and changing diplomatic relations, creating an opportunity for smaller economies that maintain good international relations with a broad range of partners.
According to Mngomezulu, Eswatini enjoys positive relations with countries including the United Arab Emirates and Saudi Arabia while also maintaining cordial ties with major global economies. This, he said, positions the country favourably as investors search for stable destinations.
He noted that Russia was among countries looking at investment opportunities in African markets, including Eswatini and Mozambique, while businesses from other parts of the world were also reassessing regional investment destinations.
Mngomezulu said developments surrounding the Strait of Hormuz had prompted governments and investors to consider alternative locations for strategic projects and storage facilities, with Southern Africa increasingly coming into focus.
He stressed that while geopolitical developments had opened new possibilities, securing investments would ultimately depend on several factors, including Eswatini’s competitiveness, infrastructure and investment climate.
“We are seeing interest from different parts of the world because of the geopolitical environment,” he said, adding that the country must remain prepared to convert this interest into actual investments.
Turning to sectors with strong growth potential, Mngomezulu said mining remained significantly underdeveloped, contributing less than one per cent to the country’s Gross Domestic Product (GDP).
He said the sector’s growth had been hampered by disputes among industry players and governance challenges, adding that greater coordination and transparency could unlock significant economic opportunities.
He also identified renewable energy as one of the sectors attracting growing investor interest, saying demand for energy projects continued to increase.
Artificial intelligence (AI), he added, represents another emerging area with considerable potential, particularly as countries seek technology-driven investment opportunities.
Mngomezulu further expressed hope that stability would soon be restored at the Royal Science and Technology Park (RSTP), saying the institution remains an important component of Eswatini’s innovation and investment ecosystem.
Eswatini’s “Anginasitsa” foreign policy, first championed by the late King Sobhuza II and maintained under His Majesty King Mswati III, emphasises neutrality, peaceful engagement and dialogue in resolving international disputes.
Mngomezulu said while global uncertainty presents challenges, it also offers opportunities for countries that are strategically positioned to attract investment, and Eswatini intends to capitalise on those opportunities.
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