BY SIFISO NHLABATSI
EZULWINI – Central Bank of Eswatini (CBE) Governor Dr Phil Mnisi says the construction of the bank’s new Ezulwini headquarters should set an example of projects being completed on time and within budget.
Mnisi said the project was procured on a fixed budget, with fixed quality requirements and a fixed delivery period, as construction of the headquarters continues.
The CBE’s new headquarters forms part of the bank’s major Ezulwini complex, with Phase One including an 18-storey headquarters. The bank awarded the construction contract to Ingcebo Joint Venture, with the project structured as a 34-month turnkey development.
Giving an update on the project, Mnisi said construction was progressing well and that by the end of this year, work was expected to have reached the fourth level of the tower.
He said the target was to have the building completed by September 3, 2028, adding that feedback from those involved suggested that the project could even be completed ahead of schedule.
“We are hopeful that all this will be met by September 3, 2028,” Mnisi said.
The Governor said the project was deliberately structured around clear cost, quality and time requirements, stressing that projects should not be allowed to run beyond their approved budgets.
“It is important for projects to start on time and also finish on time within the set budget,” he said.
Mnisi said the CBE was hoping to avoid any cost overruns on its headquarters project, saying this should become the standard for major developments in the country.
“There must be no costs overrun which we are hoping to see under the Central Bank project,” he said.
He further expressed the wish that other projects in the country could adopt the same approach and be delivered within their agreed timelines and budgets.
The headquarters project is one of the major infrastructure developments undertaken by the CBE in Ezulwini, following the acquisition of about 21 hectares for the new complex.
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