Mbabane – The Central Bank of Eswatini (CBE) shared its achievements over the past three years during the launch of its 2024/2025 Annual Integrated Report (AIR) on Friday. Governor reported that the Bank has made progress in strategy, innovation, and supporting the local economy.
The Bank adopted a new strategy focusing on purpose, performance, and realignment. It hosted several regional central banks for peer learning visits and completed the liquidation of claims linked to the Swaziland Women Economic Empowerment Trust (SWEET) and Diamond Africa.
CBE listed a R4 billion government bond on the Johannesburg Stock Exchange, raising R1.186 billion, and strengthened its reserves by purchasing gold. Over 30 local firms were engaged in the E160 million Ezulwini Project, covering engineering, construction, and consultancy.
Staff were recognised internationally, including by the Alliance for Financial Inclusion, while the Bank received awards for coin management and commemorative note design. Letshego Eswatini Bank also received a 12-month provisional license to operate as a digital bank.
Inflation averaged 3.9% for the 2024/25 financial year, down from 4.7% the previous year. Gross official reserves increased from E7.8 billion to E9.1 billion, while the National Payments Switch Project went live in December 2024 with five participating institutions.
The Bank recorded a profit of E205.7 million, slightly down from E251.5 million the previous year, but domestic banks remained stable, supported by a strong capital base.
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