His Majesty King Mswati III has returned home bearing encouraging news for Eswatini, revealing that the country’s steady economic growth has earned the confidence of leading global financial institutions.
Speaking during a press conference at Ludzidzini Royal Residence yesterday, the king shared the positive feedback received during his participation in the 4th International Conference on Financing for Development held in Seville, Spain, under the leadership of the United Nations (UN). The conference brought together heads of state, policy makers, and financial lenders from around the world to discuss sustainable funding for development, with Eswatini emerging as one of the countries noted for its economic resilience. “Our GDP, which stands at around seven per cent, is evidence that Eswatini’s economy is being managed well,” the king said.
“Many institutions expressed willingness to assist us because they have seen our good track record in repaying loans.” His Majesty, however, emphasised that the country must exercise caution when seeking external funding, underscoring the need for thorough analysis before entering into any borrowing agreements. “We must be extremely careful about how much we borrow and for what purpose. Every project must be carefully planned to ensure the funds bring meaningful development,” he added.
The conference in Spain saw a collective agreement that US$4 trillion (approximately E68 trillion) should be mobilised globally to support development initiatives, with Africa identified as a priority for investment. The funds are expected to drive growth in key sectors including agriculture, industry, tourism, mining, and small and medium enterprises (SMEs). The king also reflected on the enriching experience of meeting the Spanish monarch and other government officials, as well as learning about Spain’s rich history and economic progress. He spoke of being given an opportunity to give a Siswati name to a cow, to which he obliged and gave the name Mbabane.
He was told that the animal’s offspring would also be given a Siswati name. And this would market the kingdom far and beyond as the cow is showcased in Europe. He also believed this stood to strengthen relations with Spain. His Majesty’s journey had begun with a five-day state visit to Ghana two weeks ago, where he witnessed firsthand the country’s impressive development strides. During his time in Ghana, the king visited the historic Kwame Nkrumah University of Science and Technology (KNUST), established in the 1950s. He expressed admiration for the university’s size and technological advancement, noting with pride that Emaswati students studying there were praised for their discipline and respectfulness. His Majesty’s engagements abroad not only strengthened diplomatic ties, but also positioned Eswatini as a trusted partner in global development efforts — sending a clear message of optimism for the kingdom’s future.
