Eswatini Parliament debates E455 million EPTC loan guarantee

The Eswatini Parliament is debating the Eswatini Posts and Telecommunications Corporation (EPTC) Loan Guarantee Bill No. 13 of 2026. The bill, tabled by Finance Minister Neal Rijkenberg, seeks government authorization to guarantee a US$26 million (approximately E455 million) loan from the World Bank’s International Bank for Reconstruction and Development (IBRD).

This loan is part of a larger E1.14 billion World Bank financing package intended to modernize the nation’s digital infrastructure. However, the proposal has faced significant opposition from Members of Parliament. Critics, including MP Michael Masilela, have questioned the financial viability of EPTC and expressed concerns that taxpayers could be held liable if the corporation fails to repay the debt.

During the second reading of the bill, MP Masilela raised allegations of corruption within EPTC and questioned why the government would extend further financial trust to an entity with a questionable management and financial record. Other lawmakers, such as MP Mazwi Zwane, questioned the necessity of a government guarantee if the corporation possessed the capacity to secure the loan independently.