ABU DHABI, UAE – Acting on the command of His Majesty the King and the Crown Prince of UAE Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, Eswatini ministers engaged in marathon high level meetings yesterday with a number of UAE companies.
The Eswatini team was led by Commerce Industry and Trade Minister Manqoba Khumalo and comprised of Foreign Affairs and International Cooperation Minister Pholile Shakantu, Home Affairs Minister Princess Lindiwe, Ministry of Defence Principal Secretary Prince Sicalo, Ambassador to the UAE Sifiso Dlamini, King’s Office Chief Officer Mbongeni Simelane and King’s Office Head of Legal Affairs Ntsika Fakudze.
His Majesty the King on Wednesday met with the Crown Prince and discussed a number of areas of cooperation and also strengthens ties between the two countries.
Commerce Industry and Trade Minister Khumalo presented to the companies a number of projects worth over E42 billion excluding those in the mining sector and gave a compelling story of Eswatini’s private sector led and government enabled economy. He explained that the opportunities lay in agriprocessing/manufacturing, tourism, agriculture, energy and ICT and Education.
Mubadala is a global sovereign investor managing a diverse portfolio of assets to generatesustainable financial returns for its shareholder, the Government of Abu Dhabi. Originally established in 2002 as the Mubadala Development Company, the modern entity was formed in 2017 following a merger with the International Petroleum Investment Company (IPIC).
Today, it is one of the world’s most prominent sovereign wealth funds, deploying capital at the leading edge of global growth and innovation while actively accelerating the economic diversification of the United Arab Emirates.
The Kingdom of Eswatini is currently exploring the creation of a sovereign wealth fund, having already visited Ghana, Ethiopia and Rwanda. A draft legislation has already been been submitted to cabinet before it is taken to Parliament for the next stage.
Mubadala is a wholly owned government of Abu Dhabi company with international offices in New York, London Moscow and Beijing.
It is said that by the fall of last year, it has assets totaling US Dollars 385 billion (approximately E6.5 trillion) and has investments in over 50 countries across the world.
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