By Mbongeni Ndlela
MBABANE – In a major boost to Eswatini’s economy, the Minister of Finance, Neal Rijkenberg, has confirmed that the country has received its Southern African Customs Union (SACU) receipts share, amounting to an impressive E2.6 billion.
The payment was made on Thursday, bringing renewed optimism to government financial planning and national development efforts.
SACU is the world’s oldest customs union, established in 1910. It comprises five member states – Eswatini, South Africa, Botswana, Lesotho, and Namibia – which collaborate on customs and trade policies. The union pools customs duties and excise taxes collected from imports into the region and then redistributes the revenue among member countries based on a revenue-sharing formula.
This system is vital for the economies of smaller member states, including Eswatini, as SACU receipts constitute a significant portion of their national budgets. For Eswatini, the E2.6 billion windfall presents an opportunity to reinforce fiscal stability, fund essential public services, and support economic development initiatives.
Finance Minister Rijkenberg expressed appreciation for the timely disbursement, noting that the funds will play a pivotal role in government operations and planned infrastructure projects. “This is a substantial and welcome contribution to our national revenue. It comes at a time when the country is focused on economic recovery and growth,” he said.
SACU continues to stand as a beacon of regional economic integration, fostering trade cooperation and financial solidarity among its members. The receipt reaffirms Eswatini’s active role within SACU and its commitment to regional development partnerships that uplift its people and drive prosperity.
