BY GCWALISILE MHLABANE
EZULWINI — A renewed call to strengthen rural livelihoods and enhance national food security featured prominently during the 10th anniversary celebrations and rebranding ceremony of Phoenix of Eswatini Assurance Limited, as Minister of Finance Hon. Neal Rijkenberg urged the company to expand its services into agricultural insurance solutions that support farmers and strengthen resilience against climate-related risks.
The ceremony, held at Happy Valley Hotel on 12 June 2026, brought together government officials, business leaders and stakeholders to commemorate a decade of growth while officially unveiling the company’s refreshed corporate identity and strategic direction.
The Minister formally launched the company’s new name and logo, describing the rebrand as a significant milestone that reflects transformation, innovation and a renewed commitment to meeting the evolving financial needs of emaSwati.
Rijkenberg commended the company for its decade-long journey, highlighting its resilience, sound governance and ability to earn and sustain customer trust in a competitive financial services environment.
“Ten years in business is a remarkable milestone. It reflects discipline, resilience and the confidence of customers who continue to place their trust in the institution,” said the Minister.
He emphasized that the insurance sector plays a critical role in national development by strengthening financial security, mobilising savings and enabling households and businesses to withstand economic shocks.
A key highlight of the Minister’s address was his call for the company to prioritise agricultural insurance solutions, noting that the sector remains the backbone of rural livelihoods and national food security.
“Eswatini’s agricultural sector is the backbone of rural livelihoods and food security. I therefore urge Phoenix of Eswatini to expand into agricultural insurance solutions that protect farmers from climate-related shocks, droughts and production losses,” he said.
Rijkenberg stressed that increasing climate variability, prolonged dry spells and unpredictable weather patterns continue to place farmers under pressure, making risk protection tools essential for both subsistence and commercial agriculture.
He further noted that agricultural insurance would not only safeguard livelihoods but also strengthen national food systems, improve economic resilience and support Government’s broader agenda of inclusive development.
Beyond agriculture, the Minister reiterated Government’s commitment to advancing financial inclusion, urging the insurance sector to design products that are affordable, accessible and responsive to the needs of rural communities, women, youth and informal sector entrepreneurs.
“Insurance must evolve into a practical financial safety net accessible to all emaSwati. It should not remain a privilege for a few,” he said.
Rijkenberg also commended the company for incorporating local professionals into its leadership structures, stating that such inclusion enhances governance, strengthens accountability and ensures that strategic decisions reflect local realities and national priorities.
He described the rebranding of Phoenix of Eswatini Assurance Limited as more than a cosmetic change, but rather a strategic repositioning that signals readiness to respond to emerging economic trends and development needs.
The Minister further highlighted the importance of foreign direct investment in strengthening Eswatini’s financial sector, noting that international partnerships continue to contribute capital, technical expertise, innovation and global best practices to the economy.
As he concluded his address, Rijkenberg reaffirmed Government’s support for a vibrant and innovative insurance industry that contributes meaningfully to national development.
“May this next chapter be defined by innovation, inclusion and lasting impact,” he said.
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