Central Bank of Eswatini

Central Bank of Eswatini We foster price and financial stability that is conducive to the economic development of Eswatini

| CBE's CULTURE TRANSFORMATION JOURNEY |Over the past two weeks, the Governor, Dr. Phil Mnisi, and the Executive Committ...
01/06/2026

| CBE's CULTURE TRANSFORMATION JOURNEY |

Over the past two weeks, the Governor, Dr. Phil Mnisi, and the Executive Committee joined staff in a transformative journey to embed a culture aligned with the Bank’s strategic vision. Dubbed the Culture Transformation YOUnite and facilitated by OIM Leadership Consulting, the sessions focused on instilling five key behaviours the Bank seeks to embrace: Speed with a Stretch, Intentionality, Big Thinking, Teamwork, and Excellence.

Key takeaways from the session;
• Adaptability and Growth: Just as the sunflower turns towards the sun, we too must embrace change, realign when necessary, and sustain growth to remain relevant.

• Correct Mindset: Reflect on your place within the institution. Do you operate with a fixed mindset or a growth mindset? A growth mindset encourages continuous learning, skill development, and the belief that intelligence can be cultivated.

• Early Adopter: Take time for introspection on where you stand along the law of diffusion scale. Strive to be an early adopter of new concepts and initiatives, positioning yourself at the forefront of change.

• Its starts with you: The key is knowing that you are responsible for everything that happens to you. You have an internal locus of control, which means ‘I am self-directed, I am accountable for what I do, I can influence how my life pans out’.

• Best performing organisations have four key elements:

- Aligned direction
- Visible and engaging leadership
- Engaged teams and executives
- Process excellence

| DISCOUNT RATE MAINTAINED AT 6.75% |Interest Rate/Discount Rate • The CBE maintained the discount rate at 6.75 per cent...
29/05/2026

| DISCOUNT RATE MAINTAINED AT 6.75% |

Interest Rate/Discount Rate
• The CBE maintained the discount rate at 6.75 per cent.

Inflation
• Headline inflation increased to 2 per cent in April 2026 from 1.6 per cent in March 2026.

What does this mean?
• Banks are expected to maintain the prime lending rate on loans extended to individuals and businesses at 10.25 per cent until the next monetary policy meeting.

What to expect?
• The CBE expects the cost of goods and services to increase moderately in 2026. The Bank increased its inflation forecast for 2026 to 3.31 per cent (from 3.27 per cent forecasted in March).

Economic Activity
• Economic activity, as measured by the Quarterly Gross Domestic Product, grew by 5.7 per cent year-on-year (seasonally adjusted) in the fourth quarter of 2025, slightly lower than the revised 5.9 per cent recorded in the previous quarter.

Visit https://www.centralbank.org.sz/mpcc-statement-may-2026/ to download the full statement.

29/05/2026

| MONETARY POLICY STATEMENT | 29 MAY 2026

The CBE-AFI training on developing a Movable Collateral Registry continued yesterday, focused on addressing institutiona...
27/05/2026

The CBE-AFI training on developing a Movable Collateral Registry continued yesterday, focused on addressing institutional governance and funding considerations. Developing the registry is meant to enhance access to finance for women-led Micro, Small, and Medium Enterprises (WMSMEs).

The session delved into making the registry credible and sustainable. It looked at governance and funding models to find the perfect balance of maintaining strong oversight while keeping the system inclusive and efficient, especially for women-led small businesses to access credit.

Other considerations were having an online platform for ease of access to information, safeguards to protect the information, including logins and data standards for cybersecurity.

| MONETARY POLICY STATEMENT |On Friday, the Governor, Dr. Phil Mnisi, will announce the Monetary Policy decision. ...
27/05/2026

| MONETARY POLICY STATEMENT |

On Friday, the Governor, Dr. Phil Mnisi, will announce the Monetary Policy decision.

Emaswati may soon use movable assets as collateral for loans as work progresses on a national roadmap to establish a Mov...
25/05/2026

Emaswati may soon use movable assets as collateral for loans as work progresses on a national roadmap to establish a Movable Collateral Registry.

This morning, the Central Bank of Eswatini (CBE), in partnership with the Alliance for Financial Inclusion (AFI), hosted a workshop with commercial banks, micro-lenders, and government ministries to advance this reform.

Opening the session, Director - Financial Regulation, Lungile Dlamini, noted that lack of collateral remains a key barrier to finance, especially for women-led MSMEs. She explained that while the financial system relies heavily on immovable assets like land and buildings, many entrepreneurs hold movable assets such as machinery, vehicles, inventory, livestock, crops, receivables, and intellectual property which are not fully recognized.

“Establishing a Movable Collateral Registry is therefore not just a technical reform, but a step toward fairness, efficiency, and unlocking economic potential. Anchored in the National Financial Inclusion Strategy 2023–2028 and the Gender Inclusive Finance Roadmap, the initiative aims to expand inclusive access to credit and strengthen participation in the economy,” she said.

Last week, Deputy Governor Felicia Dlamini-Kunene joined the UAE-Africa Women Leaders Conference, a high-level platform ...
25/05/2026

Last week, Deputy Governor Felicia Dlamini-Kunene joined the UAE-Africa Women Leaders Conference, a high-level platform bringing together ministers and women leaders to share expertise, strengthen cooperation, and advance women’s role in leadership and development.

She was joined by Minister of ICT, Savannah Maziya, and SEDCO CEO, Khethiwe Mhlanga, and shared how the CBE is embedding gender considerations into its Monetary Policy.

“A 2018 survey revealed that many, especially women, were excluded from Monetary Policy. In response, we developed a Financial Inclusion Strategy and a Gender Inclusive Roadmap, now being implemented. By making financial inclusion an explicit objective, we ensure women participate effectively in the economy. This includes engaging regulated entities to adopt a gender lens, address unique circumstances, and remove structural barriers,” she explained.

| GAMPS2026: SSELGS supports loans valued at E38.8 million |Since the establishment of the Small Scale Enterprise Loan G...
22/05/2026

| GAMPS2026: SSELGS supports loans valued at E38.8 million |

Since the establishment of the Small Scale Enterprise Loan Guarantee Scheme (SSELGS), it has supported the issuance of a total of 2,008 guaranteed loans provided through commercial banks and eligible non-bank financial institutions up to 31 March 2026.

During the year ending 31 March 2026, SSELGS issued a total of 116 new guarantees with a combined value of E33.6 million. These guarantees supported loans amounting to E38.8 million extended by various participating commercial banks and eligible non-bank financial institutions.

The Ezulwini Community has appreciated the Central Bank of Eswatini (CBE) and the contractor, Ingcebo Joint Venture, for...
22/05/2026

The Ezulwini Community has appreciated the Central Bank of Eswatini (CBE) and the contractor, Ingcebo Joint Venture, for their support of local projects linked to the construction of the new CBE Headquarters.

The community, especially, singled out the water project, now nearing completion and already benefitting hundreds of residents. They also encouraged continued initiatives to strengthen communication and community relations.

This feedback came during a stakeholder engagement meeting involving the community, CBE, OSSU, Ingcebo Joint Venture, and other partners. The session focused on reviewing progress under Phase 1 of construction and mapping a way forward on issues arising from the activities.

Each stakeholder shared updates on their work, and discussions concluded with agreed steps to address concerns raised, reinforcing collaboration and commitment to community development.

Address

CBE Complex, Portion 468 Of Farm 50, Cnr MR103 & Nshakabili Road
Ezulwini

Telephone

+26824082000

Website

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