Eswatini financial reserves and capital markets show growth

Eswatini’s financial indicators showed growth in mid-2026, characterized by rising foreign reserves and capital market assets. According to the Central Bank of Eswatini, gross official reserves reached E10.8 billion in September 2026, a 2.6% increase from August. This growth improved the country’s import cover to 2.5 months.

While liquidity improved, borrowing costs rose as the Central Bank increased its discount rate by 25 basis points to 7.0%, bringing the prime lending rate to 10.50%. The broad money supply reached E29 billion.

Simultaneously, the Financial Services Regulatory Authority reported that Eswatini’s capital market assets grew by 6.65% in the second quarter of 2026, totaling E49.68 billion. Retirement funds were the primary driver of this growth, accounting for 72.06% of total capital market funding. Retail investor participation remained low at less than 5%. The Eswatini Stock Exchange’s All-Share Index also saw a slight increase of 1.64%.