Governor Holds Open Dialogue with Media

The Central Bank of Eswatini (CBE) facilitated a candid interaction between the media and its leadership at the latest edition of “Tea and Coffee with the Governor” held at the MTN Club House in Ezulwini. Governor Dr. Phil Mnisi led the discussion, focusing on the transparency and information sharing that form the backbone of these regular strategic engagements.

During the event, Dr. Mnisi provided an analysis of the April 2024 World Economic Outlook report by the International Monetary Fund (IMF), which anticipates global growth rates to hold steady at 3.2% for both 2024 and 2025. This resilience in the global economy aligns with strategic interest rate adjustments by central banks worldwide aimed at managing inflation. Locally, Eswatini’s economy appears robust, with the Quarterly Gross Domestic Product (QGDP) showcasing a remarkable year-on-year growth of 7.0% in the fourth quarter of 2023.

Another highlight was the announcement of the official date for CBE’s Golden Jubilee on May 10, 2024. The Governor emphasized that this milestone not only celebrates the past 50 years of the Bank’s contributions but also ushers in a renewed commitment to its foundational mandate of ensuring price and financial stability to bolster Eswatini’s economic trajectory. A commemorative book detailing the Bank’s historical journey and evolution will be released as part of the celebrations.

Dr. Mnisi also unveiled plans for a significant infrastructural development—an envisioned financial hub that will house the Bank’s new world-class headquarters, an innovation hub, a centre of excellence, and a world-class museum. This project aims to position Eswatini as a key player in the global financial sector.

The Governor further disclosed that May would be a particularly eventful month, with the Bank hosting the SADC Committee of Central Bank Governors’ meeting and the Alliance for Financial Inclusion (AFI) meeting. These high-level discussions will underscore Eswatini’s role in shaping financial policies and inclusion strategies across the region and beyond.

As Eswatini’s economy continues to expand and adapt, the Central Bank’s ongoing dialogue with the media plays a critical role in ensuring that these developments are communicated transparently and effectively, fostering a well-informed public.