Mbabane- The Central Bank of Eswatini (CBE) and the Banco de Mocambique (BoM) have signed a Memorandum of Understanding (MoU), sealing cooperation that will transform the in-construction Eswatini Central Bank complex into a regional player.
Signed on Thursday, the cooperation effort will see the Bank of Mozambique (BoM) providing technical advisory support.
The agreement, the first in decades, outlines several areas in which BoM will offer advisory assistance, including civil and structural engineering, electrical and mechanical systems, technology infrastructure, physical security, and comprehensive reviews of project designs and progress.
Speaking at the event, the CBE Governor, Dr Phil Mnisi, described the MoU as a milestone in strengthening institutional capacities and a clear demonstration of regional solidarity.
He emphasised that the partnership signals a joint commitment to building resilient financial infrastructure that supports economic development across both nations.
“By leveraging the expertise and experience of the Banco de Mocambique, we are confident that we will enhance the design, construction, and supervision of our new Central Bank complex,” Mnisi said.
The new CBE Head Office building—set to become the tallest structure in Eswatini—will be a smart, environmentally conscious facility targeting a minimum four-star rating under the South African Council for Green Building standards. According to the Governor, such an ambitious project requires robust planning and exceptional project management, prompting CBE to seek peer learning from central banks that have successfully undertaken similar developments.
The BoM Governor, Rogerio Zandamela, expressed his sincere gratitude to the CBE for its confidence by inviting them to take part in the cooperation, which he said is of paramount importance.
“We value this not only as recognition of our experience but, above all, as a renewed commitment to the spirit of solidarity and partnership that binds our nations,” he asserted.
Zandamela concluded by reaffirming the long-standing cordial relationship between the two central banks and expressing confidence that the partnership will result in a flagship facility that reflects Eswatini’s aspirations for stability, progress, and innovation.
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