AGP Executive Report

MTN Leadership: MTN Eswatini has confirmed Jerry Soko as substantive CEO from 1 July 2026 on a two-year contract, after seven months as acting CEO, citing improved network competitiveness, customer focus and disciplined execution under its Ambition 2030 push. Central Banking: The Central Bank of Eswatini reported a sharp drop in profit after tax for the year ended 31 March, down more than 80%, as operating income fell and foreign exchange losses weighed on results. Regional Trade & Industry: At the 9th SACU Summit in Cape Town, leaders agreed to set up a Regional Innovative Funding Mechanism with an initial N$5 billion capitalisation from the Common Revenue Pool to back development projects across member states, alongside calls to modernise customs and accelerate industrialisation. Tech & Skills: Eswatini-linked education support continues as Studycat donates 2,000 sets of children’s learning software to the Kingdom of Eswatini via a Taiwan-based nonprofit, with distribution through the Deputy Prime Minister’s office and schools. Governance Watch: Prime Minister Russell Mmiso Dlamini defended the establishment of a commission of inquiry into the Eswatini Medical Christian University (EMCU), saying it was properly gazetted and tasked to investigate financial management, fraud allegations and governance failures.

MTN Leadership: MTN Eswatini has confirmed Jerry Soko as substantive CEO on a two-year contract effective 1 July 2026, after seven months as acting CEO, citing improved network competitiveness, customer focus and disciplined execution. Central Banking: The Central Bank of Eswatini reported a sharp fall in profit after tax to E40.8m for the year ended March 31, down from E205.7m, as operating income weakened and foreign exchange losses hit results. Regional Trade & Funding: SACU Heads of State agreed to set up a Regional Innovative Funding Mechanism with an initial capital of N$5bn from the Common Revenue Pool to back cross-border industrial and infrastructure projects. SACU Summit Push: King Mswati III returned from the 9th SACU Summit in Cape Town, where leaders discussed regional trade, industrialisation, customs reform and support for SMEs. Digital & Skills: Google launched a Ksh129.5m (USD1m) Google Play Indie Games Fund for independent studios across 32 African countries, offering equity-free funding and mentorship, with Eswatini highlighted in the wider regional tech push. Public Policy & Compliance: Eswatini’s Finance Minister said recent illegal gambling convictions strengthen the country’s anti-money laundering standing and readiness for FATF-style assessments. Cross-Border Climate of Concern: Reports from South Africa say anti-illegal immigration protests have led some landlords to evict foreign tenants, while Eswatini’s King urged documented Emaswati students to stay calm and continue studies.

MTN Eswatini Leadership: MTN has confirmed Jerry Soko as substantive CEO from 1 July 2026 on a two-year contract, after seven months as acting CEO, citing improved network competitiveness, customer focus, operational discipline and stronger cash management. SACU Regional Finance: SACU leaders agreed to set up a Regional Innovative Funding Mechanism with an initial R5 billion (from the Common Revenue Pool) to back cross-border industrial and infrastructure projects across all member states, with governance and access criteria to be worked out. SACU Summit Priorities: King Mswati III used the 9th SACU summit to push for reforms that deliver tangible outcomes—industries, investment, markets and jobs—rather than policy plans, as leaders also discussed customs revenue reform and support for SMEs. Eswatini Compliance Push: Finance Minister Neal Rijkenberg says Eswatini’s convictions in illegal gambling cases strengthen the country’s anti-money laundering standing ahead of FATF/ESAAMLG assessments. Regional Business Climate: South Africa’s trade balance slipped into deficit in May, driven by a higher oil import bill amid Middle East conflict, while exports fell on fewer shipments of gold, PGMs and vehicles. Tech & Jobs: Google launched a Ksh129.5m equity-free Play Indie Games Fund for independent African studios, offering grants plus mentorship to scale products for global markets. Education Support: Studycat donated 2,000 sets of educational software to Eswatini via a Taiwan nonprofit, with distribution through the Deputy Prime Minister’s office and schools. Governance & Sovereignty: A report flags rising diplomatic tension around Taiwan’s ties with Eswatini after a controversial visit by Taiwan’s president, drawing criticism from mainland China.

MTN Leadership: MTN Group confirmed Jerry Soko as CEO of MTN Eswatini, effective 1 July 2026, after he served as acting CEO for seven months and helped stabilise and reposition the business. SACU Funding Push: SACU Heads agreed to set up a Regional Innovative Funding Mechanism with an initial N$5 billion capital, funded from the Common Revenue Pool, to back development projects across member states. King’s SACU Message: King Mswati III returned from the 9th SACU Summit in Cape Town, where leaders discussed trade, industrialisation and customs reform, with the King urging SACU to deliver tangible outcomes like jobs and investment. Eswatini Education Support: Studycat donated 2,000 sets of educational software to Eswatini, with 500 going via the Deputy Prime Minister’s office and 1,500 through schools under the Ministry of Education and Training. Fuel Cost Watch: Eswatini’s energy minister hinted fuel prices could drop in coming months after Middle East tensions eased, while stressing the need for a strategic oil reserve. Compliance & Finance: Eswatini’s finance minister said gambling convictions strengthen the country’s anti-money laundering standing ahead of future FATF-style assessments. Regional Politics & Business: Wicknell Chivayo’s “Prince Wicknell” self-styling and his Eswatini citizenship/diplomatic passport continue to fuel political and business controversy across the region.

SACU Funding Push: SACU Heads of State agreed to set up a Regional Innovative Funding Mechanism with an initial N$5 billion capital, drawn from the Common Revenue Pool, to back development projects across all SACU member states starting in 2027/28 and 2028/29, alongside work to strengthen industrialisation, exports and investment promotion. Royal Call for Results: At the 9th SACU Summit, His Majesty King Mswati III challenged SACU to reform and deliver tangible outcomes—industries, investment, markets, modernised borders and jobs—rather than strategy-only progress. Eswatini Education Tech Boost: Studycat donated 2,000 sets of educational software to Eswatini, with 500 going via the Deputy Prime Minister’s Office and 1,500 through schools under the Ministry of Education and Training. Anti-Illicit Gambling Compliance: Eswatini’s Finance Minister said convictions tied to illegal gambling strengthen the country’s anti-money laundering standing ahead of future FATF-style assessments. Fuel Price Watch: Eswatini’s energy minister hinted fuel prices could drop after Middle East tensions eased, while stressing the need for a strategic oil reserve. Business Mindset: Business Eswatini urged entrepreneurs to “rediscover purpose” to avoid losing long-term direction as they grow.

SACU Summit Momentum: Southern African Customs Union leaders in Cape Town backed a “re-imagined SACU Agenda” and pushed for reforms, including stronger private-sector participation, industrialisation through regional value chains, and a plan to extend the Strategic Plan to 2028/29. Regional Finance & Trade: Afreximbank appointed Peter Adeshola Olowononi as Southern Africa Director of Regional Operations, with the region spanning 13 countries including Eswatini. Eswatini Diplomacy Under Scrutiny: Taiwan’s tense relationship with Eswatini drew attention after a controversial visit by Taiwan’s Lai Ching-te, with China warning Eswatini over the One-China policy. Public Backlash Over Honors: Eswatini’s government faced outrage after granting Zimbabwean businessman Wicknell Chivayo citizenship and a diplomatic passport, amid wider controversy around his wealth and alleged investigations. Fuel Security Watch: Eswatini’s energy minister hinted fuel prices may drop after easing Middle East tensions, while stressing the country’s strategic oil reserve capacity is only for about 1–2 days. Inequality Lens: A World Bank-based snapshot put Eswatini among countries with the widest income gaps, with the Gini index cited at 54.6%. Local Business & Jobs: MTN Eswatini invested E2.2m in its 21 Days of Y’ello Care campaign, expanding healthcare access in remote communities. Sports Business: Manzini Wanderers secured a Premier League lifeline by buying Red Rhinos’ top-flight status.

SACU Integration Push: Southern African Customs Union leaders met in Cape Town to drive a “re-imagined” agenda, with President Ramaphosa warning no country can prosper alone amid shifting trade, technology and supply chains, while SACU Executive Secretary Dumsani Masilela stressed industrialisation and stronger private-sector participation. Afreximbank Leadership: Afreximbank appointed Peter Adeshola Olowononi as Director of Regional Operations for Southern Africa, taking over from Humphrey Nwugo, as the bank targets trade and project financing across the region including Eswatini. Eswatini–Taiwan Tensions: A controversial Taiwan visit by President Lai Ching-te to Eswatini has drawn sharp condemnation from China, raising questions about economic ties and sovereignty. Fuel Cost Relief Hopes: Eswatini’s energy minister hinted fuel prices may drop after easing Middle East tensions, while noting the country’s strategic fuel reserve capacity is only for about 1–2 days. Public Finance Watch: World Bank projections place Eswatini among Africa’s governments likely to spend more than it collects in 2026, widening fiscal deficits and debt pressures. Domestic Violence Reporting Gap (Manzini): Police figures show only four men reported domestic violence and one rape case by a woman since the year began, highlighting under-reporting concerns. Business & Governance: The Wicknell Chivayo mansion dispute and Eswatini diplomatic passport/citizenship controversy continue to spark scrutiny over wealth, investigations and public trust. MTN Health Access: MTN Eswatini invested E2.2m in its 21 Days of Y’ello Care campaign, expanding healthcare and blood donation support in remote communities. Sports Business: Manzini Wanderers secured a Premier League lifeline by buying Red Rhinos’ top-flight status, keeping the club in the elite league.

Fiscal Pressure: The World Bank forecasts Eswatini will run a fiscal deficit of 5.2% of GDP in 2026, with government spending projected to outpace revenue and debt rising to 47.9% of GDP—matching budget plans showing E31.9bn in revenue and grants versus E36.9bn in expenditure. SACU Industrial Push: At the 9th SACU summit in Cape Town, leaders stressed that no country can prosper alone and backed a “re-imagined” SACU agenda focused on industrialisation, regional value chains, customs modernisation and stronger private-sector involvement. Afreximbank Leadership: Afreximbank appointed Peter Adeshola Olowononi as Southern Africa Director of Regional Operations, taking over from Humphrey Nwugo, with the region including Eswatini and a Zimbabwe-based office. Fuel Cost Watch: Eswatini’s energy minister hinted fuel prices could fall after Middle East tensions eased, while also reiterating the need for a strategic oil reserve given current storage for only 1–2 days. Diplomatic Controversy: Wicknell Chivayo defended his R160m Clifton mansion valuation amid a public dispute and SARS-linked claims, while separate reporting says he received Eswatini citizenship and a diplomatic passport—sparking renewed debate over sovereignty and governance. Youth & Health: MTN Eswatini invested E2.2m in its 21 Days of Y’ello Care campaign to expand healthcare access in remote areas, as a State of the Youth Report flags heavy alcohol use and rising youth crime tied to unemployment and weakened family support.

SACU Summit Momentum: Southern African Customs Union leaders meet in Cape Town as President Cyril Ramaphosa urges member states to stop trying to prosper alone, pushing a “re-imagined SACU” agenda focused on industrialisation, trade facilitation and regional value chains. New SACU Leadership Push: SACU Executive Secretary Dumsani Masilela says industrialisation must sit at the centre of the union’s strategic agenda, while the summit also backs reforms and an extended strategic plan. Botswana Chairs SACU: Botswana reaffirms regional integration and customs simplification as it takes over SACU chairmanship from July 15. Afreximbank Appointments: Afreximbank names Peter Adeshola Olowononi as Southern Africa Director of Regional Operations, with the Zimbabwe-based region spanning 13 countries including Eswatini. Fuel Cost Watch: Eswatini’s energy minister hints fuel prices could drop after Middle East tensions eased, while diesel price pressures remain a key driver of transport and broader inflation. MTN Health Drive: MTN Eswatini invests E2.2m in the 21 Days of Y’ello Care campaign, expanding healthcare access and blood donation support in remote areas. Youth & Jobs Pressure: Eswatini’s State of the Youth Report 2026 flags youth unemployment at 56% and rising social challenges linked to poverty and weak support systems. Governance & Tourism: The first board for Ezulwini Palazzo is appointed, aiming to strengthen governance and boost business tourism and local enterprise. Business Dispute Spillover: Zimbabwean businessman Wicknell Chivayo and activist Rutendo Matinyarare trade accusations over the reported value of a Cape Town mansion, with SARS said to be drawn in.

SACU Summit Push: President Cyril Ramaphosa opened the 9th SACU Heads of State summit in Cape Town, urging member states to strengthen regional integration as global trade, technology and supply chains shift. SACU Reform Mandate: Leaders backed the “re-imagined SACU Agenda” and extended the Strategic Plan to 2028/29, giving new Executive Secretary Dumsani Masilela a mandate to drive reforms, including a regional innovative funding mechanism. Anti-Corruption Cooperation: SADC anti-corruption agencies adopted reforms to boost transparency, strengthen the operational and financial independence of agencies, speed up e-procurement, and improve asset recovery and regional coordination. Healthcare & Telecom Impact: MTN Eswatini injected E2.2m into the 21 Days of Y’ello Care campaign, expanding healthcare access and blood donation support in remote communities. Youth & Jobs Pressure: The State of the Youth Report 2026 says youth unemployment sits at 56% and highlights rising social strain linked to poverty, weak support systems and substance abuse. Business & Investment Signals: Eswatini’s Ezulwini Palazzo board was appointed to oversee governance of the tourism and events investment, while Coca-Cola Beverages Africa opened applications for a 2026 internship programme for diploma and degree students.

Green Energy & Jobs: KaMaqhekeza entrepreneur Given Ngwamba turned farm waste into Ndzilo Charcoal Briquettes, now registered and stocked at Pick n Pay stores in South Africa, creating local youth jobs. Healthcare Access: MTN Eswatini injected E2.2m into its 21 Days of Y’ello Care campaign, expanding healthcare services and blood donation support to remote communities. Banking & Sport: FDH Bank Plc donated K100 million to Malawi’s TESSAM ahead of CUCSA games in Botswana, backing regional university sport. Governance & Tourism Infrastructure: The first Ezulwini Palazzo board was appointed, with a seven-member team tasked with corporate governance and operator oversight for the conference and business-events facility. Youth & Social Challenges: Eswatini’s State of the Youth Report 2026 says youth unemployment sits at 56% and highlights rising alcohol abuse and youth crime pressures. Regional Trade Policy: Eswatini’s President Nandi-Ndaitwah is set to attend the 9th SACU Heads of State Summit in Cape Town, focusing on industrialisation, customs modernisation and AfCFTA-linked trade facilitation. Controversial Diplomacy: Public backlash continues after Eswatini granted citizenship and a diplomatic passport to Zimbabwean businessman Wicknell Chivayo, following royal honours and investment claims. Agriculture Innovation: The Eswatini Solutions Marketplace 2026 is calling for home-grown solutions to boost productivity, cut post-harvest losses and strengthen value chains.

SACU Summit Focus: Eswatini’s President Netumbo Nandi-Ndaitwah is set to attend the 9th Southern African Customs Union (SACU) Heads of State Summit in Cape Town on 26 June, with leaders expected to review the 2022–2027 SACU Strategic Plan and push progress on industrialisation, customs modernisation, trade facilitation and AfCFTA-linked opportunities. Regional Trade Momentum: Nigeria’s exports to East and Southern Africa jumped 42.95% to N1.03tn in Q1 2026, supported by an expanded air cargo corridor flagged off on 19 June—an indicator of how logistics upgrades can unlock intra-African market access. Energy & Investment Deal: Eswatini’s government says controversial Zimbabwean businessman Wicknell Chivayo has been granted citizenship and a diplomatic passport, alongside a pledged R3 billion (300MW) solar project as an independent power producer. SME Funding Push: Government has committed about E80 million to an SME finance initiative under the Africa Strategic Investment Alliance (AFSIA), aimed at improving access to funding and export opportunities for local entrepreneurs. Agriculture Innovation: The Eswatini Solutions Marketplace 2026 is calling for home-grown solutions to cut post-harvest losses, boost productivity and strengthen value chains, highlighting examples like Nutri Plum fertiliser made from chicken feather waste. Court Order on Civic Rights: Eswatini’s Supreme Court has ordered the government to officially recognise and register an LGBT advocacy group, giving authorities 60 days to comply. Tech & Connectivity: A new report on Starlink’s African rollout notes the service is live in 26 African countries but still absent from South Africa, with Eswatini among markets seeing rising interest in satellite connectivity. Business Crime Watch: A logistics expansion in Brentwood Park is underway as Namlog/SMSA Africa Logistics breaks ground on a new 3PL warehouse, while separate reports highlight ongoing fraud and tender-related legal cases across the region.

SACU Summit Focus: Eswatini’s President Netumbo Nandi-Ndaitwah is set to attend the 9th Southern African Customs Union (SACU) Heads of State and Government Summit in Cape Town on 26 June, where leaders will review the SACU 2022–2027 Strategic Plan, assess industrialisation and customs modernisation progress, and align priorities with AfCFTA opportunities. Regional Trade & Growth: SACU officials say the summit will push a “re-imagined” union built around industrial development, investment and export promotion, plus trade facilitation and logistics. LGBT Rights & Civic Space: Eswatini’s Supreme Court has ordered the government to officially recognize and register the LGBT advocacy group Eswatini Sexual and Gender Minorities (ESGM), giving authorities 60 days to comply after years of refusal. Energy Investment Controversy: Zimbabwean businessman Wicknell Chivayo has been granted Eswatini citizenship and a diplomatic passport, with government saying he will invest R3 billion in a 300MW solar project; public backlash continues over the royal honours and the business figure behind them. SME Funding Push: Government has committed about E80 million to an SME finance initiative under the AeTrade Group/AFSIA to improve access to funding and export markets for local entrepreneurs. Agriculture Innovation: The Eswatini Solutions Marketplace 2026 is calling for home-grown innovations to tackle climate risk, post-harvest losses and low productivity, including examples like Nutri Plum fertiliser made from chicken feather waste. Business & Culture: Spotify data shows football podcast listening is rising across sub-Saharan Africa, with Eswatini among the faster-growing markets.

SACU Summit Watch: South Africa will host the 9th Southern Africa Customs Union (SACU) Heads of State and Government summit in Cape Town on 26 June, with Eswatini among the member states. Leaders are set to review progress on the SACU Strategic Plan (2022–2027), discuss regional economic integration and industrial development, and map the union’s “re-imagined” future direction. Energy & Investment Controversy: Eswatini says King Mswati III granted Zimbabwean businessman Wicknell Chivayo citizenship and a diplomatic passport after talks on investment and renewable energy. The government also claims Chivayo, via Intratrek Holdings, will invest about R3bn in a 300MW solar project as an independent power producer. Regulation for International Events: Eswatini’s events regulator says promoters must get a permit from EEMPA before hosting any international act, aiming to improve safety and coordination. Standards for Export Growth: Senate President Lindiwe Dlamini backs proposed ESWASA law changes to strengthen enforcement, arguing that product standards certification is holding back SMEs from accessing bigger markets. SME Funding Push: Government says an E80m initiative under the AeTrade/AFSIA framework is meant to improve SME access to finance and unlock new trade opportunities across Africa. Sports Media Boom: Spotify data shows football podcast listening is surging across sub-Saharan Africa, with Eswatini among the fastest-growing markets.

SACU Summit Focus: Leaders from Botswana, Eswatini, Lesotho, Namibia and South Africa will meet in Cape Town for the 9th SACU Heads of State summit, with an agenda spanning the SACU Strategic Plan review, regional integration and industrial value chains—key signals for cross-border trade and local manufacturers. Energy & Investment: Eswatini says Zimbabwean businessman Wicknell Chivayo will invest R3bn (about US$182m) into a 300MW solar project as an independent power producer, after King Mswati III granted him citizenship and a diplomatic passport—an announcement that has also triggered public backlash. Events Regulation: Eswatini’s events body EEMPA says promoters must obtain a permit before hosting any international act, aiming to tighten safety and coordination in the growing entertainment market. SME Financing Push: Government has committed about E80m toward an SME funding initiative under the AeTrade Group/AFSIA to improve access to finance and unlock new trade opportunities for local entrepreneurs. Connectivity Costs: A global pricing report flags Eswatini among the world’s most expensive fixed broadband markets, underscoring how telecom infrastructure and competition pressures can hit business and households.

SME Finance Push: Government has committed about E80m to an AeTrade/AFSIA initiative to help Eswatini SMEs access finance and export markets, aiming to lift business success rates and trade opportunities. Standards for Exports: Senate President Lindiwe Dlamini says proposed ESWASA legislation could unlock wider market access by making standards certification and enforcement stronger for local products. Regional Trade Agenda: President Cyril Ramaphosa will open the 9th SACU Heads of State summit in Cape Town, focusing on regional integration, industrial development and trade cooperation with Eswatini, Lesotho, Botswana and Namibia. CIT Security in the Region: Fidelity Services says it has deployed a next-generation cash-in-transit vehicle and reports improved attack outcomes across routes serving South Africa and Eswatini. Digital Cost Pressure: Eswatini is listed among the world’s most expensive fixed broadband markets in 2026, highlighting connectivity cost challenges for households and businesses. Refugee Housing Shock: Ireland’s Ipas is telling recognised refugees to leave state accommodation centres by July, raising fears of a homelessness surge—an issue with regional humanitarian and economic spillovers. Football Podcast Boom: Spotify data shows football podcast listening surging across sub-Saharan Africa, with Eswatini up 160.2%, signalling growing sports-audio demand. HIV Access Advocacy: MSF urges governments to use legal tools to widen access to Lenacapavir and challenge monopoly pricing, ahead of UN HIV/Aids talks. Diplomatic Loss: Zimbabwe’s ambassador to Mozambique and Eswatini, Victor Matemadanda, has died at 66; the cause was not disclosed, prompting renewed debate and uncertainty.