Eswatini digital and financial regulatory developments

Eswatini is implementing various regulatory and infrastructural initiatives to strengthen its digital and financial sectors.

In the digital sphere, the government has prioritized cybersecurity as part of its mobile governance expansion. Minister of Information, Communication and Technology Savannah Maziya emphasized that personal information must be protected before citizens are required to use digital platforms. To support this, a Government Mobile App Testing Lab was established with assistance from the Republic of China (Taiwan) and International Integrated Systems Inc. Additionally, efforts are underway to operationalize the Eswatini National Research Council to ensure academic research yields tangible socio-economic impacts.

In the financial sector, authorities are working to resolve issues involving Status Capital Building Society and Ecsponent, with Central Bank Governor Dr Phil Mnisi expressing optimism regarding the return of investor funds. To protect retail savers from bank failures and pyramid schemes, deposit insurance measures have been introduced. Furthermore, Finance Minister Neal Rijkenberg reported progress in meeting international anti-money laundering standards, noting that the country is now rated Compliant or Largely Compliant on 32 of 40 Financial Action Task Force recommendations following the enactment of the Anti-Money Laundering, Counter Financing of Terrorism and Proliferation Financing (Miscellaneous Amendments) Act, 2024.