BY SIFISO NHLABATSI
MBABANE – Zimbabwean businessman Ambassador Enock Mangirande, whose company has proposed a US$5 billion (about E82 billion) housing investment in Eswatini, wants the Kingdom to consider linking citizenship to investments that deliver jobs and meaningful economic opportunities for emaSwati.
Mangirande, the Mitrick Global Chief Executive Officer, said Eswatini could use investment incentives more strategically by rewarding investors whose projects contribute directly to the country’s economic development.
He proposed that the Kingdom explore a carefully regulated Citizenship-by-Investment framework targeting productive sectors, arguing that the approach could help attract international capital while ensuring that emaSwati benefit through employment, skills transfer and local business participation.
His proposal comes after Mitrick Global announced plans for a large-scale housing development in Eswatini estimated at US$5 billion.
The proposed project envisages housing developments in Manzini, Mbabane, Matsapha and Ezulwini, although he disclosed that discussions with Government are still ongoing and no final formal approvals have been granted.
Mangirande has previously said the development would prioritise local participation, with the pilot phase involving 20 affordable houses and potentially generating more than 500 direct and indirect employment opportunities.
He said the employment opportunities would not be limited to construction, but could extend to areas including surveying, environmental assessments, road construction, civil engineering, landscaping, security, logistics, property management and maintenance.
It is against this background that Mangirande believes investment incentives should be designed around the economic benefits projects bring to the country.
He said a citizenship-linked investment model could require investors to meet clearly defined obligations before qualifying, including creating a specified number of jobs, transferring technical skills, procuring goods and services locally and maintaining their investments over the long term.
“The objective should not only be to attract capital, but to make sure that the investment creates opportunities for the people of the country,” Mangirande said.
He said sectors such as manufacturing, agriculture and agro-processing, tourism, mining beneficiation, renewable energy, technology, infrastructure and housing could be prioritised under such a framework.
Mangirande also believes Eswatini needs to compete more aggressively with other African economies for international investment.
He pointed to Rwanda, saying the country had built an investment environment focused on making it easier for investors to establish businesses and access incentives.
According to Mangirande, excessive bureaucracy can cause investors to lose interest, particularly when they are ready to commit capital but face lengthy procedures before their businesses can begin operating.
He said Eswatini should therefore look at simplifying and speeding up investment processes.
“Let’s have investor policies, investor good policies in Africa,” he said.
He argued that an investor should be able to arrive with a credible proposal and capital and receive assistance in moving through registration, licensing and other regulatory processes without unnecessary delays.
Mangirande said political stability, good governance and a predictable regulatory environment would also be critical in convincing investors to choose Eswatini over competing destinations.
The businessman is also seeking to expand his interests beyond the housing sector.
He has expressed interest in the banking and financial services industry, particularly digital systems capable of improving the speed and efficiency of financial transactions across African markets.
His proposed solutions include technology that could enable financial institutions to exchange information in real time, improve cross-border payments and reduce transaction costs.
Mangirande said such investments could contribute to financial inclusion while supporting regional trade and economic integration.
Meanwhile, he stated that he would appreciate if his role as Special Envoy for Investment to be extended by His Majesty King Mswati III.
Mangirande believes a strengthened mandate could help Eswatini attract more credible international investors and facilitate investment opportunities from initial engagement through to actual project implementation.
A dedicated investment diplomacy mechanism, he argued, could help bridge the gap between foreign investors, Government and local businesses.
For Mangirande, the proposed citizenship model and a strengthened investment envoy function would work together.
While attractive investment incentives could bring international capital into Eswatini, an active investment facilitation mechanism could help ensure that capital translates into projects, jobs and opportunities for local businesses.
The businessman said Eswatini had an opportunity to distinguish itself by developing an investment model that welcomes international capital while placing the interests of emaSwati at the centre.
He said the country’s investment strategy should ultimately be measured not only by the amount of money pledged by investors, but by the number of sustainable jobs created, businesses supported, skills transferred and economic opportunities generated.
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