BY SIFISO NHLABATSI
MBABANE– Eswatini’s natural resources, productive industries and rich cultural heritage have positioned the Kingdom as a country with significant potential to expand its role in African trade, according to the African Export-Import Bank (Afreximbank).
As Eswatini celebrated its Independence Day, Afreximbank highlighted the country’s economic strengths and its growing partnership with the continental financial institution, describing the relationship as an opportunity to strengthen industrial capacity, improve regional connectivity and enable more local businesses to participate in intra-African trade.
Eswatini became Afreximbank’s 51st participating state in 2019, following years of engagement between the bank and the Government.
The bank said this marked the beginning of a new chapter of cooperation focused on priority areas identified together with the Ministries of Finance and Commerce, Industry and Trade.
According to Afreximbank, the partnership has been shaped around infrastructure and productive capacity required to move goods, connect businesses and support the expansion of exports.
The bank noted that these priorities fit closely with Eswatini’s existing economic strengths, particularly its manufacturing sector and agricultural and forestry industries.
“Manufacturing contributes approximately one-third of national output,” Afreximbank stated, pointing to sugar, beverage concentrates, textiles, forestry products and other value-added goods as important contributors to production, employment and export earnings.
The continental bank believes there is room for Eswatini to go further by deepening these value chains and broadening the range of products it exports to African markets.
Through its trade-finance, project-finance and market-access platforms, Afreximbank said it has an opportunity to support Eswatini businesses as they seek to grow and access markets beyond the country’s borders.
The bank also highlighted Eswatini’s participation in continental trade solutions, including the Pan-African Payment and Settlement System (PAPSS), which is designed to facilitate faster and more efficient cross-border payments.
Afreximbank said such platforms could help Eswatini businesses take greater advantage of the African Continental Free Trade Area (AfCFTA) by making it easier to conduct transactions across African markets.
The bank’s message painted a positive picture of Eswatini’s economic future, highlighting not only established industries but also the country’s entrepreneurs, artisans and growing ambitions for regional trade.
It described Eswatini’s story as one of turning its natural resources, productive capacity and cultural heritage into new opportunities for trade.
The bank’s recognition comes at a time when Eswatini is seeking to strengthen domestic production, attract investment and expand its participation in regional and continental markets.
Afreximbank said its partnership with Eswatini is anchored in a shared ambition to build industrial capacity, improve connectivity and create opportunities for more Eswatini companies to participate in African trade.
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(Courtesy Pic)
