BY MBONGENI NDLELA
MBABANE – Central Bank of Eswatini (CBE) Governor Dr. Phil Mnisi has called for the removal of trade barriers across Africa, arguing that economic growth, investment and prosperity can only flourish when countries make it easier for people, goods and capital to move freely across borders.
Responding to questions from editors and journalists during the Governor’s Annual Media Engagement Session held at Sibebe Resort on Friday, Dr. Mnisi said Africa’s biggest challenge was not a lack of resources or opportunities, but the existence of barriers that continue to restrict trade and economic integration.
The Governor highlighted concerns regarding recent measures affecting the movement of vehicles between Eswatini and South Africa, saying governments often introduce policies before ensuring that systems and processes are properly prepared.
“We tend to be quick to introduce regulations and only later realise that the processes and automation required to support those policies are not adequately prepared,” said Dr. Mnisi.
He stressed that public education should always come before implementation of new policies, noting that resistance often arises when citizens are not adequately informed.
Drawing from discussions he recently held with African Development Bank leaders, Dr. Mnisi said Africa possesses enormous financial resources but continues to rely heavily on external funding because of inefficiencies within the continent itself. He explained that one of the recurring issues raised by African policymakers is the difficulty of moving capital across borders due to excessive regulations.
Beyond financial restrictions, the Governor identified logistics and infrastructure as major obstacles to continental growth.
He observed that travelling between African countries remains unnecessarily difficult, with many routes requiring travellers to pass through Europe before reaching destinations elsewhere on the continent.
“If you want to move goods across Africa, connectivity remains a challenge. Trade thrives when logistics flow smoothly,” he said.
Dr. Mnisi further argued that the movement of people is equally important for economic development. According to him, countries that restrict mobility often limit opportunities for trade, investment and innovation.
At the same time, the Governor encouraged Eswatini to use emerging regional challenges as motivation to strengthen domestic production and entrepreneurship.
He said countries such as Ireland, Singapore and the United Arab Emirates deliberately created environments that attracted investment and transformed their economies into globally competitive hubs. Eswatini, he argued, can draw lessons from such examples by focusing on import substitution and developing export-oriented industries.
Rather than viewing regional policy changes solely as obstacles, Dr. Mnisi believes they should inspire local innovation.
He noted that if citizens spend more money domestically, entrepreneurs will be encouraged to develop products and services that previously required consumers to travel abroad.
“We must create an economy that produces more and exports more,” he said.
The Governor’s remarks come at a time when African leaders are increasingly pushing for the implementation of the African Continental Free Trade Area (AfCFTA), which seeks to create a single market for goods and services across the continent.
For Dr. Mnisi, the future of Africa depends on reducing barriers, improving infrastructure, enhancing cross-border payment systems and allowing greater movement of people and capital.
“If Africa is serious about economic transformation, then seamless trade must become a priority,” he concluded.
