By Mbono Mdluli
EZULWINI – The process of establishing a Sovereign Wealth Fund has commenced in Eswatini.
Prime Minister Russell Mmiso Dlamini announced this during his remarks on the first day of the 2025 Cabinet Retreat held at Royal Villas, Ezulwini, on January 20, 2025. “The process of establishing a Sovereign Wealth Fund has begun and will be completed by the end of this fiscal year,” stated Dlamini.
According to the Prime Minister, this Sovereign Wealth Fund will cushion the nation, stabilize the economy, and generate wealth for future generations. He emphasized that countries with Sovereign Wealth Funds have achieved exponential economic growth and enhanced national wealth.
In addition, Dlamini revealed that the government has approved the upgrading of 483 kilometers of roads from unpaved to paved standards. The Ministry of Public Works and Transport is currently sourcing funds for this project. The Prime Minister assured that the government remains committed to investing in road infrastructure and invited the private sector to propose innovative financing models to support such projects.
“This aligns with our Programme of Action, which encourages innovation in resource mobilization by the government, partners, and the private sector. The government will always remain open to progressive ideas and feedback from the public to improve its policies and plans,” he added.
He further mentioned that the establishment of a Roads Agency will oversee road construction and maintenance, stating, “We look forward to having the Roads Agency fully operational.”
Dlamini also announced that Cabinet had approved an institutional housing project, financed by the African Development Bank (AfDB) with a budget of E2.4 billion. This initiative will prioritize housing for police staff. “We are eager to see the rollout of the institutional housing program,” he said.
He acknowledged the directives from His Majesty and Sibaya for the government to engage more closely with the people, a principle that continues to guide the current administration. “We commend ministers who have actively engaged with communities,” he remarked.
Dlamini noted that numerous communities have been visited, with Emaswati engaged at various levels. These engagements have provided firsthand insights into the challenges faced by the people, resulting in targeted interventions in many cases. “We look forward to the completion of the Decentralization legislation, which will streamline government interventions and enhance service delivery to the people,” he concluded.
