Mbabane- Banks and other financial institutions operating in the country will now be required to pay higher annual licence fees under newly introduced government regulations aimed at strengthening oversight and boosting public revenue.
The new fees, published under Legal Notice No. 40 of 2026, fall within the framework of the Financial Institutions Act of 2005 and officially came into effect on March 9 following their publication in the Government Gazette.
Under the revised structure, large commercial and international banks (Category A) will pay E12 000 annually for their head offices, along with an additional E6 000 for each branch, agency, or mini-agency.
Medium-sized commercial banks (Category B) will pay E10 000 for their head offices and E5 000 per additional location. Meanwhile, regional and smaller financial institutions (Category C) will be charged E5 000 for their head offices and E2 000 for each additional place of business.
Digital banks will pay a flat fee of E12 000 for a single office, while foreign bank representative offices will be required to pay E5 000 annually. Bank agents will face significantly lower fees, ranging from E400 per agent for those conducting broader permissible activities to E200 for agents offering limited services.
All licence fees must be paid electronically or through methods approved by the Central Bank of Eswatini. The regulations also introduce strict penalties for late payments, with a 10% daily charge imposed, capped at the value of the original licence fee.
The Minister for Finance, in consultation with the Finance Committee established under the Constitution, will have the authority to review and adjust these fees annually. Adjustments will be guided by movements in the Consumer Price Index (CPI), as published by the Central Statistical Office, to ensure alignment with inflation and revenue needs.
The introduction of the new fee structure comes at a time when Eswatini’s financial sector is undergoing rapid transformation, driven by the growth of digital banking platforms and mobile money services.
Government has positioned the reforms as part of broader efforts to modernise regulation, enhance financial inclusion, and reduce reliance on other forms of taxation.
However, some analysts warn that the increased operational costs could be passed on to consumers through higher service or transaction fees.
Overall, while the revised licence fees are expected to strengthen government revenue and regulatory oversight, their full impact will depend on how financial institutions adjust their pricing strategies in the months ahead.
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