NEW YORK – His Majesty the King received backing from American investors for Eswatini as a prime investment destination during a business seminar hosted yesterday by the Ministry of Commerce, Trade and Industry on the sidelines of the United Nations General Assembly.
The event, coordinated by the Eswatini Investment Promotion Authority, featured presentations from US companies detailing their operations and plans in the Kingdom. Michael Goltzman, Vice President for Global Public Policy, Environmental Sustainability, and Social Impact at The Coca-Cola Company, said the firm has been operating in Eswatini for four decades, employing more than 200 locals and exporting concentrates to 24 African countries. “Eswatini’s logistics and infrastructure support our growth and local operations,” he said.
Powerlink International outlined plans to install micro-hydro units in Eswatini’s canals, while Sun Africa announced solar energy projects to enhance water and energy sustainability. GTI Energy intends to deploy technology converting waste into fuels and chemicals. Barr Global confirmed its role in securing capital for economic and financial viability of projects. African Food Security presented plans to expand agriculture with support from Michigan State University, focusing on smallholder farmers and crops like cotton, barley, and sugar derivatives. Avalon Energy Group shared details of a US$418 million project producing sustainable aviation fuel and biodiesel, expected to supply regional needs and contribute 3.9 percent to GDP.
His Majesty cited the African Growth and Opportunity Act, expiring September 30, 2025, as a key advantage, offering US market access with a 10 percent tariff benefit. He also outlined Eswatini’s modern business framework, including a one-stop shop, streamlined immigration for residency-by-investment, 24/7 border access, a commercial court, updated Companies Act, and digitized registration.
Minister for Information, Communications and Technology, Savannah Maziya, spoke on the Kingdom’s population of 1.2 million and strategic position linking SADC, COMESA, and wider Africa. She described ongoing ICT expansion, including nationwide microwave connectivity, fibre optics development with World Bank support, and partnerships with companies like Starlink and SpaceX. “The Royal Science and Technology Park is our engine for robotics, biotechnology, and artificial intelligence,” she said.
Energy and agriculture opportunities were presented by Ernest Mkhonta, CEO of Eswatini Electricity Company, and Minister for Agriculture Mandla Tshawuka. Mkhonta said the country currently generates only 30 percent of its electricity and requires 250 MW, noting potential in geothermal, coal, mini-hydro, and dam projects. Tshawuka highlighted expansion of wheat and soybean production, mechanization, irrigation, cold storage, and a major dam project integrating agriculture, energy, and tourism. Sibani Mngomezulu, CEO of EIPA, provided additional details on investment openings across the Kingdom.
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