Mbabane – The Central Bank of Eswatini (CBE) holds 2,500 ounces of gold as part of its official reserve assets, a portfolio valued at E195 million.
The asset figures were presented as part of the Governor’s Annual Monetary Policy Statement (GAMPS) 2026, outlining a long-term shifts in the country’s national asset structures. The initial bullion purchase took place in July 2025 as part of a technical strategy to diversify the bank’s reserves portfolio and establish a fiscal hedge against global economic risks.
The current asset allocation strategy shifts toward domestic integration, with the bank planning to expand its total gold holdings through direct purchases from local production. This policy follows global central banking practices where monetary authorities utilize domestic mineral extraction to build national reserve buffers.
The diversification policy coincided with a recorded increase in the country’s overall asset baseline. Gross official reserves averaged E11.5 billion during the 12-month period between January and December 2025. This average represents a growth from the E9.9 billion baseline average recorded during the 2024 calendar year.
According to the statement data, the country’s total reserves peaked at E15.5 billion in November 2025 before settling at the current multi-asset composition. The introduction of gold to the portfolio establishes a non-currency store of value, altering how the central bank handles long-term risk management and liquidity structures.
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