Ezulwini – The Central Bank of Eswatini (CBE) has launched a strategic push to revive the Export Credit Guarantee Scheme (ECGS) as part of a broader plan to strengthen the nation’s foreign exchange reserves and economic stability.
During a high-level stakeholder workshop held at the CBE Complex this week, officials revealed that the fund has remained dormant since 2009. The bank believes that re-activating this 15-year-old financial instrument is essential for integrating local small businesses into the global value chain. By acting as a guarantor for commercial banks, the CBE intends to absorb the credit risks that currently prevent lenders from financing smaller exporters.
Central Bank leadership pointed out that the inactivity of the fund reflects a critical gap in the country’s production capacity. While domestic lending programs remain active, the lack of demand for export-specific credit suggests that very few local enterprises are prepared to sell goods beyond the borders of Eswatini.
The bank noted that a robust export sector requires more than just capital; it needs a coordinated effort between the Ministry of Commerce, the Eswatini Bankers Association, and investment agencies to remove structural roadblocks.
s is shifting toward how development finance institutions can better incubate local businesses so they can graduate from domestic sales to regional and international trade.
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