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Eswatini approves EPTC loan amid fiscal concerns

Updated 1 time since CLSTR started tracking revisions of this situation.

What changed

2026-09-22 15:03 UTC → 2026-10-02 10:21 UTC · added removed

Eswatini fiscal management and approves EPTC loan debates amid fiscal concerns

The Eswatini Parliament is currently debating a bill to authorize has approved a US$26 million (approximately E455 million) loan guarantee for the Eswatini Posts and Telecommunications Corporation (EPTC). This guarantee Backed by the World Bank, this facility is part of intended to support the Digital Eswatini Project and address the corporation’s significant pension liabilities. The EPTC pension scheme currently faces a larger E1.14 billion World Bank financing package aimed at modernizing digital infrastructure. Lawmakers have deficit of hundreds of millions of Emalangeni, supporting approximately 500 beneficiaries with only 144 active contributors. During the legislative debate, lawmakers raised concerns regarding the financial viability stability of EPTC, with some members alleging corruption the state-owned entity and questioning why the government should assume liability potential risk to taxpayers in the event of a default. In response to concerns regarding job security, EPTC management assured Parliament that there are currently no plans for employee retrenchments. The intervention aims to stabilize operations that have been strained by the corporation’s debt. diversion of operational funds to meet pension obligations. Broader parliamentary discussions in Parliament have highlighted significant continue to highlight government cashflow problems, which legislators claim problems. Legislators noted that financial constraints are stalling development projects projects, such as road construction, and slowing service delivery. In response to criticisms of fiscal management criticisms, management, Finance Minister Neal Rijkenberg defended the government’s practice of paying rent to the Public Service Pension Fund (PSPF) for occupied buildings. The Minister argued these payments help address a 13% funding gap in the PSPF, potentially reducing which may reduce the long-term financial burden on taxpayers. taxpayers since the government acts as a guarantor for the fund’s shortfall.

Versions

  1. 2026-10-02 10:21 UTC Eswatini approves EPTC loan amid fiscal concerns
  2. 2026-09-22 15:03 UTC Eswatini fiscal management and loan debates

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