Mbabane- The Eswatini Civil Aviation Authority (ESWACAA) is inviting private capital into one of the country’s largest planned commercial developments, seeking investors to turn the area around King Mswati III International Airport into a centre for business, industry, housing and tourism.
ESWACAA has opened an invitation for expressions of interest from developers and investors interested in projects spanning seven areas within the airport precinct.
The proposed developments go well beyond aviation infrastructure. They include an airport hotel, offices and business park, retail mall and international conference facility, alongside a 200-unit residential estate, healthcare facilities, an aviation academy and a recreational park.
The authority is also looking for investors for industrial projects in agro-processing and pharmaceuticals under a proposed Special Economic Zone.
Cargo and logistics form another part of the plan, with opportunities including cold-storage facilities and regional freight-forwarding operations.
ESWACAA has also identified renewable energy and waste management as investment areas, including a utility-scale solar farm, sanitary landfill and recycling park. Tourism projects would include a cultural village and aviation museum.
The breadth of the invitation effectively places the airport precinct at the centre of an attempt to create a new concentration of economic activity, with businesses, residences, industrial operations and tourism facilities operating around the international airport.
To attract investors, the proposed Special Economic Zone comes with a package of incentives, including an initial 15-year corporate tax exemption, customs and VAT-related concessions and expedited approval processes.
Other incentives include exemptions from training levies, green technology allowances and access to pathways under the permanent residence programme.
ESWACAA is targeting developers with the financial strength and technical capacity to undertake large-scale commercial, industrial and logistics projects. Applicants must also demonstrate relevant experience in delivering major infrastructure developments.
The investment drive is being undertaken under the Civil Aviation Act No. 4 of 2022, which provides the authority with its mandate.
Interested investors can seek clarification and obtain the relevant documentation from ESWACAA by September 25, while completed expressions of interest must be submitted by noon on October 2.
For KMIII, the proposal represents a shift in focus from the airport as a transport facility to the wider land and economic activity surrounding it.
The success of that vision will now depend on whether developers and investors respond to the invitation and turn the proposed projects from plans on paper into operating businesses and infrastructure.
Discussion about this post