Ezulwini– Ordinary Emaswati are set to get a direct opportunity to invest in government securities through the imminent rollout of retail bonds.
Central Bank of Eswatini Governor Dr Phil Mnisi said the retail bonds would be introduced in the immediate future, creating an investment channel aimed at allowing the wider population to participate more equitably in the financial market.
Mnisi made the announcement on Thursday while officially opening the Eswatini Financial Markets Forum, where he called for a financial system that not only protects stability but also creates opportunities for households, young people, entrepreneurs and small businesses to participate in economic growth.
“I have particularly been encouraged by a recent initiative because I got confirmation on Tuesday that in the immediate and very near future, we shall be rolling out retail bonds,” Mnisi said.
He said the initiative would ensure equitable participation by the wider population through targeted and reliable investment channels.
Retail bonds are expected to provide ordinary investors with an avenue to put their savings into government-backed securities, allowing participation in an area of the financial market that has traditionally been more accessible to institutional and larger investors.
The Governor said financial inclusion should no longer be measured simply by whether people have access to formal financial services.
“Access must lead to empowerment, and empowerment must lead to participation in growth,” he said.
The Governor said a modern financial system should be judged not only by the sophistication of its products, but also by the breadth of access and opportunities it creates.
This, he said this was particularly important for small and medium enterprises, women-led businesses, young people and communities that had historically remained on the margins of the financial system.
Mnisi also linked the planned retail bonds to the broader development of Eswatini’s domestic financial markets, saying the country needed deeper and more efficient markets capable of supporting investment and public finances.
He said the financial regulator would continue working on the development of domestic money and government securities markets, alongside initiatives aimed at modernizing the country’s payment infrastructure and encouraging innovation in financial services.
The Governor stressed that increased participation in financial markets must be accompanied by confidence, transparency, consumer protection and sound regulation.
He said Eswatini’s financial system had to remain resilient in the face of global uncertainty, particularly given the country’s exposure to external economic developments.
Mnisi said the Central Bank also remained focused on safeguarding the country’s reserves, which he described as a national buffer that protects confidence, supports external obligations and strengthens the country’s ability to withstand economic shocks.
He said the development of financial markets, strengthening of institutions and preservation of reserves had to move together if Eswatini was to build a competitive and sustainable financial system.
The retail bond programme, he said, would therefore form part of a wider effort to ensure that the benefits of financial-market development extended beyond financial institutions and large investors to ordinary citizens.
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