AGP Executive Report

SADC Summit Watch: Leaders meet in Durban for the 46th Ordinary SADC Summit, with trade, critical minerals, industrialisation and security on the agenda as South Africa takes over the chairmanship and migration remains a flashpoint. Migration Pressure: Anti-migrant “March and March” plans to march and picket on the summit’s final day, demanding stricter visa controls, tighter asylum rules and action against employers hiring undocumented workers. Regional Security Push: Malawi’s Enock Chihana urged SADC unity to tackle crises in eastern DRC, Madagascar and Mozambique, backing Eswatini’s incoming role in the Organ Troika. ESCCOM Probe: An ESCCOM investigation alleges about E17m was diverted into a finance manager’s personal accounts through invoice bank-detail changes and possible card misuse. Trade Balance: Eswatini’s merchandise trade deficit widened to E1.05bn in the first four months of 2026/27 as imports outpaced exports. Local Content Drive: Government says it will enforce 80% local sourcing of construction materials in public projects to keep jobs and value in Eswatini. Energy & Cost Risks: UNDP urged Eswatini to use renewable energy for energy security and resilience, while fuel subsidy funding is under pressure after Strait of Hormuz disruptions. HIV Focus: UNAIDS highlights that Eswatini is among countries that have reached the 95-95-95 targets, even as local data shows new infections remain a concern for the 2030 goal.

SADC Security Push: Malawi’s Second Vice-President Enock Chihana urged Southern African leaders to respond to regional crises in Congo, Madagascar and Mozambique with “openness, mutual respect and a shared sense of purpose,” as he prepares to represent Malawi at high-level SADC summits in Durban. Energy & Cost Pressures: UNDP urged Eswatini to use renewable energy to strengthen energy security and unlock investment value, while Eswatini’s fuel “cushion” spending was flagged as a short runway—government spent E147m in June to keep prices low, with reserves for under six months. Street Reintegration: Deputy Prime Minister Thulisile Dladla said her office will assess people living on the streets for family reintegration, and where no support exists, work with chiefs to allocate homes. Governance & Health Scrutiny: Prime Minister Russell Mmiso Dlamini said government is within rights to investigate The Luke Commission (TLC) after serious allegations from former employees and MPs. Local Markets: Eswatini’s stock market edged up in July, with market capitalisation rising 0.10% to E7.053bn. Business & Trade: India and SACU moved closer to preferential trade talks after signing terms of reference, aiming to expand export markets and investment links. Household Finance: A rise in debt consolidation loans reflects mounting cost-of-living pressure on emaSwati households. Sports & Economy: The EFA said it avoided about E325,000 in coaching salaries over five months while Sihlangu lacked a permanent technical team.

Creative & Media Collaboration: Makotopong Sound Studios (MSS) and Lokuhle Media Group teamed up with artist AkuseKhula at the Eswatini Theatre Club to strengthen the local creative industry through production, management and marketing support. Cyber & Family Law Risk: A growing Facebook “baby-daddy shaming” trend could trigger serious penalties under Eswatini’s cybercrime and data protection laws, including fines up to E100 000 and possible imprisonment. Governance & Healthcare Scrutiny: Prime Minister Russell Mmiso Dlamini says government is within rights to investigate The Luke Commission (TLC) after allegations from former employees and MPs, including concerns over governance and clinical practices. Energy & Regional Shock: Unions in South Africa and Eswatini, NUM and TUCOSWA, warn Eskom restructuring could raise electricity costs for Eswatini, which relies heavily on imported power. Markets & Finance: Eswatini’s stock market edged higher in July, while the Central Bank says retail bonds are set to be rolled out soon to broaden trusted investment options. Business & Infrastructure Spend: EWADE reports over E739.2m already spent on Eswatini-owned firms for the under-construction Mpakeni Dam, supporting nearly 200 local contractors and suppliers. Sports Economy: The FNB Eswatini Challenge ended with Australian Austin Bautista winning E396 250, while local clubs face player movement ahead of the 2026/27 season. Public Health: HIV prevention data shows about 4 220 new infections in 2024, raising concern over progress toward the 2030 “zero new infections” target.

Fuel Subsidy Pressure: Government says it spent about E147m in June to cushion emaSwati fuel costs, with only ~E860m left in reserve—about six months at current spending—raising questions as oil-market uncertainty continues. Financial Markets: Central Bank of Eswatini Governor Dr Phil Mnisi says retail bonds are set to be rolled out soon, aiming to broaden public access to trusted investment options and deepen local money and capital markets. Local Business & Infrastructure: EWADE reports E739.2m already spent on Eswatini-owned firms for the under-construction E2.6bn Mpakeni Dam, supporting nearly 200 local contractors and suppliers. Trade & Regional Integration: SACU and India signed Terms of Reference to start negotiations on a Preferential Trade Agreement, with talks expected to begin within a month and focus on areas like goods, rules of origin and customs procedures. HIV Prevention Update: NERCHA reports about 4,220 new HIV infections in 2024, up from ~4,000, threatening the 2030 “zero new infections” goal and pointing to ongoing structural barriers. Sports & Economy: Mbabane Swallows face an exodus of key players ahead of 2026/27, while the FNB Eswatini Challenge saw local hopes miss the E396k top prize as international competition tightens. Energy Compliance: EEC warns owners of grid-connected solar systems to register or face a E15,500 penalty, citing safety and regulatory compliance concerns. Entrepreneurship & Jobs: EITF 2026 expects over 70,000 attendees, positioning the fair as a major business and green-economy opportunity.

China-Africa Trade: China’s zero-tariff policy for imports from 53 African countries is already lifting sales and market access, with Eswatini excluded because it recognises Taiwan. Fuel Subsidy Watch: Government says it spent about E147m in June to cushion emaSwati fuel costs, with only around E860m left—roughly six months at current burn rates—raising pressure on the subsidy model. Financial Markets: The Central Bank of Eswatini says it will soon roll out retail bonds to broaden trusted local investment options. HIV Prevention: Eswatini recorded about 4,220 new HIV infections in 2024, up from around 4,000, threatening the 2030 “zero new infections” goal and pointing to persistent structural barriers. Electricity Regulation: EEC warns owners of grid-connected solar systems to register or face a E15,500 penalty, citing safety and compliance concerns. Trade & Growth: Eswatini’s 58th International Trade Fair (Aug 28–Sep 6) targets 70,000+ attendees, while EITF-linked sport sponsorship (E200,000) highlights business opportunities beyond the pitch. Regional Trade Talks: India and SACU signed ToR to start negotiations on a preferential trade agreement, with Eswatini among the member states. Local Business Spend: EWADE says the under-construction Mpakeni Dam has already injected about E739.2m into local businesses via nearly 200 Eswatini firms.

Crypto & Remittances: South Africa’s draft Crypto Asset Manual could let authorised providers use crypto in the background to settle some cross-border remittances, without senders buying or holding crypto, with caps of ZAR 5,000 per transaction per day and ZAR 25,000 monthly. Financial Markets: The Central Bank of Eswatini says it will soon roll out retail bonds to broaden trusted investment options for households and diversify local markets. Public Performance & Governance: Eswatini’s first-ever Government Performance Report for 2025/26 shows overall performance at 48%, up from 22% earlier, but with uneven results across ministries. Energy Costs & Compliance: EEC says it can apply for tariff adjustments every two years; meanwhile owners of grid-connected solar systems are warned to register with Phehla Sikwati or face a E15,500 penalty. Trade & Regional Integration: India and SACU signed terms of reference to launch preferential trade talks, with negotiations expected to start within a month. Local Business Spend: EWADE’s Mpakeni Dam has already injected about E739.2m into Eswatini-owned firms, supporting nearly 200 contractors and suppliers. Agriculture Shock: A cold snap in Hawane killed cattle, with smallholders reporting losses above E60,000. Trade Fair Momentum: EITF 2026 is projected to draw over 70,000 attendees, with a green economy theme aimed at boosting sustainable trade opportunities.

Retail Bonds: Central Bank of Eswatini Governor Dr Phil Mnisi says CBE will soon roll out retail bonds to broaden trusted investment options for locals. Financial System Strategy: Mnisi also outlined four priorities—modernising and deepening money/capital markets, safe innovation, purposeful financial inclusion, and strengthening institutional capability. Electricity Tariffs: Natural Resources and Energy Minister Prince Lonkhokhela says EEC can apply for tariff reviews every two years under its agreement with ESERA, noting Eswatini currently imports about 70% of power. Solar Compliance: EEC warns owners of grid-connected solar systems to register with the Phehla Sikwati campaign or face a E15,500 penalty. Edible Oil Levy: NAMBoard will enforce a 24% levy on imported edible oils from September 1, tightening compliance with existing law. Trade & Market Access: India and SACU signed Terms of Reference to launch negotiations for a Preferential Trade Agreement, with talks expected to start within a month and conclude within a year. Regional Integration Scorecard: SADC says it’s improving on security and agriculture but still falls short on growth, jobs and youth unemployment. Local Business Spend: EWADE reports E739.2m already spent on Eswatini-owned firms for the Mpakeni Dam, supporting nearly 200 local contractors and suppliers. Agriculture Shock: A cold snap in Hawane killed cattle, with smallholders reporting losses above E60,000. Governance & Police: Senate President’s allegations against police officers prompt PM Russell Mmiso Dlamini to say “no interference” and that claims should be investigated. Sports & Sponsorship: Green Mamba sign Nhlanhla Ngwenya ahead of CAF deadlines, while Orchard Insurance backs Nsingizini Hotspurs with E40,000 for CAF Women’s Champions League. Trade Fair Push: EITF 2026 expects over 70,000 attendees, with MulaSport pledging E200,000 to sport activities in the fair programme.

India–SACU Trade Talks: India and the Southern African Customs Union (including Eswatini) signed Terms of Reference to restart negotiations on a Preferential Trade Agreement, with talks expected to begin within a month and conclude within a year, targeting tariff cuts on selected goods such as automobiles, pharmaceuticals and industrial machinery. Electricity Costs & Tariffs: Eswatini Electricity Company says it can apply for tariff reviews every two years; officials also flagged EEC’s worsening finances (losses and heavy reliance on imported power) as it prepares another application, while EEC warned solar owners to register or face a E15 500 penalty. Energy Compliance & Losses: EEC reported major financial strain from vandalism and copper theft, and warned of yet another electricity tariff hike as it seeks to recover costs. Trade & Business Calendar: Eswatini International Trade Fair (EITF) 2026 is set to draw over 70 000 attendees from Aug 28–Sep 6, with a green-economy theme aimed at boosting sustainable trade. Agriculture Value Chains: A World Bank review highlights maize, dairy, beef and vegetables as high-potential value chains, but says Eswatini needs more market-linked investment to unlock growth. Sports Funding: Orchard Insurance injected E40 000 into Nsingizini Hotspurs Ladies ahead of the CAF Women’s Champions League qualifiers.

Electricity & Tariffs: Eswatini Electricity Company (EEC) says it can seek another tariff review, with the minister stressing the utility’s right to apply every two years and that any change depends on ESERA’s process; EEC is also reported to be in the red (E231.1m) amid cost pressures, including imported power and losses worsened by vandalism and copper theft. Food Imports & Levies: NAMBoard will enforce a 24% levy on imported edible oils from September 1, saying it’s the minimum rate under existing law aimed at tightening compliance and protecting local production. Trade & Market Access: India and SACU (including Eswatini) have signed Terms of Reference to restart talks on a Preferential Trade Agreement, targeting completion within a year and focusing on goods like automobiles, pharmaceuticals and industrial machinery. Youth & Skills: UNESWA VC urges early retirement planning, while a Student Leadership Conference challenged over 80 student leaders to apply leadership, entrepreneurship and branding skills beyond campus. Governance & Business Environment: Government performance improved to 48% for 2025/26, and the Natural Resources ministry warned businesses to verify procurement notices after a fraudulent tender circulated online. Social Protection: After a cold front, 114 street children and vulnerable people were relocated to shelters with food and warm clothing.

Government Performance: HMCS topped the 2025/26 assessment with a 75% score, while overall government performance rose to 48% from 22% in the first quarter, though the report notes HMCS’s role is mostly supporting. Trade & Investment: India and SACU signed terms of reference to restart talks on a Preferential Trade Agreement, with negotiations aimed to start within a month and wrap up within a year—potentially reshaping tariff outcomes for goods like vehicles and pharmaceuticals. Electricity Costs: ESERA’s recent 13.61% tariff hike is being followed by signals of another application for 2027, as EEC reports E231.1m losses and warns financial pressure may push further increases. Energy Sector Risk: EEC says copper theft and vandalism are worsening losses, while ESERA and EEC stress applications don’t automatically mean immediate consumer price jumps. Social Protection in Cold Weather: Government moved 114 street children and vulnerable people to safety as a severe cold front hits, with municipalities urged to shelter and support the most at risk. Youth & Jobs: EYEOP targets 30,000 young people (at least 15,000 young women and 5% youth with disabilities) with skills and entrepreneurship support. Agriculture Value Chains: A World Bank review flags maize, dairy, beef and vegetables as high-potential value chains, urging market-linked investment to unlock growth. Customs Facilitation: SACU expands its AEO pilot to Namibia, Botswana and South Africa, testing faster border clearance for accredited traders.

Electricity Tariffs: Eswatini Electricity Company (EEC) says it will apply for a 2027 tariff review in October, with ESERA’s process running through November and any changes only taking effect from April 2027—EEC warns a filing doesn’t automatically mean higher bills, but it expects a likely increase based on current financials. ENPF Governance: Labour Minister Phila Buthelezi assured senators the Eswatini National Provident Fund board will be fully constituted by end of September after a board dissolution and vetting concerns. Youth Jobs Funding: Government’s EYEOP will target 30,000 young people over five years, including at least 15,000 young women and about 1,500 youth with disabilities, with skills and entrepreneurship support. Farm Monitoring Upgrade: EWADE handed over E300,000 in tablets and laptops to agriculture extension officers to capture real-time farm data under IFAD-funded SAPEMP. Trade Facilitation: SACU is expanding its Regional AEO pilot—starting 18 August—to Namibia, Botswana and South Africa to speed up cross-border clearance for accredited traders. Tourism Push: Eswatini Tourism Authority launched the kingdom’s events calendar in Mozambique to boost regional travel and cross-border spending. Data Breach Watch: ESCCOM says most reported personal data breaches originate in the financial sector, urging stronger compliance with the Data Protection Act. Waste & Climate Risk: Environmental Authority warns open burning is fuelling disaster risks, including wildfires and harmful air pollution.

Youth & Skills Push: Government’s EYEOP youth empowerment project will target 30,000 young Emaswati over five years, with at least 15,000 young women and about 1,500 young people with disabilities, using skills, entrepreneurship, apprenticeships and job support. Agri Digitalisation: EWADE handed the Ministry of Agriculture E300,000 in tablets and laptops to strengthen farm monitoring under SAPEMP, helping extension officers capture real-time data on crops, irrigation, production and market access. Climate Finance Plan: Prime Minister Russell Dlamini is studying Namibia’s Environmental Investment Fund model as Eswatini moves to transform its own environment fund into a “mega fund” capable of mobilising large-scale financing. Disaster Risk & Waste: The Eswatini Environmental Authority warned that open waste burning is worsening disaster risks by releasing harmful pollutants and adding fuel for wildfires. Export Growth Roadmap: The EU and ITC are supporting Eswatini to develop a practical three-year export roadmap to boost competitiveness and help businesses sustain international sales. Trade Facilitation: SACU is expanding its AEO pilot to Namibia, Botswana and South Africa, while Eswatini and partners also push SADC efforts to simplify border procedures for small-scale traders. Data Protection Alert: ESCCOM says most reported personal data breaches in Eswatini come from the financial sector, urging stronger handling and security of customer information. Regional Tourism: Mozambique and Eswatini agreed to coordinate tourism strategies, including improving cross-border travel and promoting local services.

Cold Weather Response: Eswatini’s DPM urged municipalities and town boards to quickly shelter street dwellers as a severe cold front hits, with food support and calls for families to bring children home, plus extra checks on elderly people and persons with disabilities. SACU Trade Talks: India and the South Africa-led SACU group are expected to sign terms of reference on August 12 to kick off negotiations for a preferential trade agreement, with cooperation flagged in critical minerals, pharmaceuticals and manufacturing. Export Push: The EU and ITC are backing Eswatini to develop a practical three-year export roadmap aimed at improving competitiveness and helping firms turn opportunities into sustained international sales. Data Protection: ESCCOM says most reported personal data breaches in Eswatini come from the financial sector, urging stronger handling of customer information as digitisation grows. Connectivity Value: A telecom commentary argues connectivity should be judged by reliability and successful transactions, not just cheaper data bundles. Entrepreneurship & Growth: Oracle Innovate Lab’s second cohort launches to support SMEs with mentorship and pitch readiness, while local business leaders say entrepreneurs must plan for regional expansion early. Governance Watch: ENPF CEO Futhi Tembe told delegates the fund operated for months without a functioning board, highlighting the governance pressure facing the financial sector. Health & Business: LTR Pharma’s “real world” ED results are reported as promising for prostate cancer patients, adding to the commercial interest in faster, more effective treatments. Regional Trade Facilitation: SADC is moving to simplify border procedures under the Simplified Trade Regime to cut costs for small-scale traders. Infrastructure: AfDB road upgrades are set to reduce transport times and cut costs, with projections of higher trade volumes with South Africa and Mozambique. Digital Finance Expansion: Xago secured a VASP licence in Botswana to expand regulated digital asset and cross-border payment services across Southern Africa. Sports Finance: CAF is reportedly set to restructure participation fee disbursements so clubs receive funds upfront, easing cash pressure for Eswatini’s Green Mamba and Nsingizini Hotspurs. Women’s Economic Role: Women’s Month events spotlighted calls for women to be owners and decision-makers, alongside renewed attention on GBV prevention and community action.

Deportation & Aviation: Airlines have flagged 36 foreign nationals arrested in an alleged illegal online gambling syndicate, complicating Eswatini’s efforts to arrange their departure after a first group of 17 was already sent out. Agriculture & Jobs: A World Bank-backed Eswatini Agriculture Sector Review says fragmented spending is holding back value-chain growth, urging more targeted, market-linked investment and private-sector participation. Energy & Investment (Taiwan): PM Russell Dlamini returned from Taiwan with renewed focus on renewable energy deals and investment, including visits to major solar projects. Trade Facilitation (SADC): SADC is pushing to simplify border procedures under the Simplified Trade Regime to cut costs for small-scale traders, with implementation discussions in Lusaka. Finance Governance: ENPF CEO Futhi Tembe told delegates the fund kept operating for months without a functioning board, highlighting the governance vacuum and its impact. SME Growth: Oracle Innovate Lab’s second cohort is underway, backing entrepreneurs with mentorship and pitch readiness rather than direct funding. Health: A review warns standard drug-resistant TB tests can miss mutations outside a key gene region, including cases reported in Eswatini. Legal/Justice: The Law Society says the Master’s Office inquiry was unlawfully set up and is calling for a properly authorised commission. Football & Sponsorship: Nsingizini Hotspurs secured a new Sibebe Premium Lager sponsorship ahead of the CAF Champions League.

ENPF Governance: ENPF CEO Futhi Tembe says the fund has been run for nearly 10 months without a functioning board, after employer and employee representatives withdrew and quorum collapsed—yet management kept operations moving. Legal Accountability: The Law Society of Eswatini says it will push back on the Master’s Office inquiry, arguing the Judicial Commission was unlawfully set up, while the commission recommends a lifestyle audit for staff after finding administrative shortcomings and possible corruption. Trade & Regional Integration: SADC partners, including Eswatini, are moving to simplify border procedures under the Simplified Trade Regime to cut costs for small-scale traders. Infrastructure for Growth: AfDB-backed road upgrades are expected to cut transport costs and lift trade with South Africa and Mozambique by 5%. Investment & Industry: PM Russell Dlamini courts Taiwanese packaging firms and energy investors, aiming to localise packaging and add over 1,000MW of generation capacity. Human Capital & Business Support: Oracle Innovate Lab cohort 1 entrepreneurs generated over E1m in combined revenue, while UNESWA law students report withheld results over alleged lecturer pay disputes. Food Security: IPC analysis projects about 22,000 Emaswati could slip into emergency hunger levels during the 2026/27 lean season.

Debt Watch: A new look at Eswatini’s public debt says the headline debt-to-GDP figure (about E42.1bn, ~40.4% of GDP) is not alarming on its own, but the real risk is what the ratio hides—rising interest costs, revenue reliability, refinancing needs and whether borrowing is actually boosting the economy. Food Security: The IPC analysis projects 22,000+ Emaswati sliding into emergency hunger levels in the 2026/27 lean season, with 23% of the population facing crisis or emergency conditions. Education & Skills: The World Bank flags a reading crisis: many children move through early primary without mastering foundational literacy, with Grade III pupils reading only a few words correctly per minute. Gender & Society: Inkhosikati LaMatsebula urged collective action and prayers to confront GBV, linking safer homes to stronger economic participation. Trade & Infrastructure: The AfDB-funded MR14/MR21 road upgrade is expected to cut transport costs and lift Eswatini–South Africa/Mozambique trade volumes by 5%. Investment & Energy: PM Russell Dlamini is courting Taiwanese firms for packaging manufacturing and pushing renewable energy deals, targeting large-scale generation to support industrialisation. Business Support: Oracle Innovate Lab’s first cohort generated over E1m in combined revenue, showing early-stage SME support is translating into growth. Football & Sponsorship: Nsingizini Hotspurs secured a Sibebe Premium Lager sponsorship ahead of CAF Champions League action, while Scottland FC coach Norman Mapeza warned against underestimating Nsingizini in the CAF draw.