…encourages country to go borrow capital for investment
…wants industrial sites developed in all four regions
…Says country must be brave enough, copy from developed countries
BY THEMBA ZWANE
MBANGWENI – His Majesty King Mswati III has announced an ambitious 50-year development plan aimed at fully developing the Kingdom of Eswatini, with industrial sites envisaged in all four regions as the country seeks to create more employment opportunities and stimulate economic growth.
The King announced the long-term ambition during the Shiselweni Business Dinner hosted by Shiselweni Forestry Company in conjunction with the Shiselweni Business Community in his honour at the Mbangweni Royal Residence on September 17, 2026.
He said the long-term vision included the establishment of industrial sites in all four regions of the Kingdom.
The King explained that capital would have to be raised to finance the development of these industrial areas, stressing that the country needed to consider different approaches to securing the funds required for such an ambitious undertaking.
His Majesty cited developed countries as examples, saying they had been brave enough to borrow money from other countries and international institutions and use the funds as capital for investment and development.
He said Eswatini should also be prepared to adopt a similar approach where borrowing was properly planned and the funds were used for productive investment.
The King acknowledged that the issue of borrowing money could be difficult for emaSwati because many people were taught from a young age to avoid borrowing and accumulating debt.
He, however, challenged the nation to reconsider this mentality, explaining that borrowing could be acceptable when there was a clear plan for how the money would be used and when the investment was expected to generate value.
His Majesty encouraged emaSwati to move away from an outright mentality of avoiding borrowing, particularly where financing was needed to achieve major national development objectives.
He said such an approach would be important in realising the costly ambition of establishing industrial sites in each of the country’s four regions.
The 50-year vision therefore places industrialisation, investment and employment creation at the centre of Eswatini’s long-term development ambitions.
His Majesty said the dinner had provided an important platform for businesspeople from across the Kingdom to meet and interact with members of the Shiselweni business community, describing such engagements as important in promoting growth.
He said the gathering had assisted businesses in the Shiselweni Region to grow, while applauding the performance of Shiselweni Forestry Company, which sponsored the dinner.
The King commended the company for its growth despite the economic impacts and challenges experienced globally, saying the progress of the business was an indication of the potential within the region.
His Majesty said Shiselweni was currently experiencing significant economic growth, pointing to developments taking place in the region as evidence that the area was moving in the right direction.
Among the developments highlighted by the King was a new factory identified as Johnson & Johnson.
His Majesty said he had been expected to officially open the factory during his recent visit to Shiselweni for the Umhlanga Reed Dance Ceremony. However, he said he was informed that technical challenges needed to be addressed before the factory could be officially opened.
The King expressed hope that the challenges would be resolved swiftly, allowing the factory to commence operations and create additional employment opportunities for people in the region.
His Majesty also referred to the proposed African Alliance project, which he said was valued at E800 million.
The King said he had blessed the construction of the proposed project, adding that the investment provided further assurance that Shiselweni was on the right path in terms of economic development.
For Shiselweni, the King’s remarks came against a backdrop of emerging investments and business expansion, including the proposed E800 million African Alliance project and the anticipated opening of the Johnson & Johnson factory.
Against this backdrop, His Majesty urged the people of Shiselweni to embrace and support local development initiatives.
He said development closer to communities would have direct benefits for emaSwati, particularly by enabling people to work closer to their homes.
According to the King, local employment opportunities would help people reduce expenses associated with travelling long distances to work as well as costs related to renting accommodation away from their homes.
His Majesty said that while in Shiselweni, he had met with local chiefs and Imiphakatsi leaders and encouraged them to work together and collaborate in pursuing development that would create new employment opportunities.
The King’s call for collaboration among chiefs, Imiphakatsi leaders, businesses and communities also places local participation at the heart of the development vision.
The business dinner brought together business stakeholders from Shiselweni and other parts of the Kingdom, providing a platform for discussion around economic growth and the role of the private sector in supporting development.
His Majesty said the continued growth of businesses such as Shiselweni Forestry Company, despite global economic challenges, demonstrated the importance of creating an environment in which businesses could grow and contribute to the national economy.
The proposed establishment of industrial sites in all four regions would form part of the broader long-term ambition, with the King emphasising the need for capital mobilisation and a willingness to make carefully planned investments.
The 50-year ambition consequently extends beyond individual projects, placing regional industrialisation and employment creation within a longer-term national development vision.
#KingMswatiIII #Eswatini #50YearPlan #EswatiniDevelopment #Industrialisation #EconomicGrowth #Shiselweni #BusinessDevelopment #JobCreation #AfricanAlliance #JohnsonAndJohnson #ShiselweniForestry #Investment #IndustrialDevelopment #Mbangweni
