Tibiyo TakaNgwane Managing Director Dr Absalom Themba Dlamini has urged African economies to establish sovereign wealth funds as a solution to the continent’s persistent economic challenges.
Delivering his keynote address at the Africa Capital Markets Forum pre-conference in Sandton, Dr Dlamini used the Tibiyo TakaNgwane success story to demonstrate how well-managed sovereign wealth funds can fuel sustainable growth, invest in people, and preserve national identity.
Sovereign Wealth Funds as Catalysts for Growth
Dr Dlamini said sovereign wealth funds could help build resilient economies by mobilising domestic resources and reducing reliance on volatile external funding.
| Eswatini Observer WhatsApp Channel
“In spite of challenges and threats, there is hope for Africa,” he said. “The continent already holds US$1.1 trillion in domestic capital – from pension and insurance funds to public development banks and sovereign wealth funds. Unlocking these internal resources is essential.”
The Africa Capital Markets Forum – supported by the African Development Bank (AfDB) – brings together key capital market stakeholders, including central banks, stock exchanges, institutional investors, and private sector leaders, to chart pathways for sustainable economic growth.
Navigating Global Uncertainty
Opening his remarks, Dr Dlamini noted that the forum came at a time of global policy and trade uncertainty, currency instability, low or negative GDP growth, and disinvestment across key sectors.
“This volatility, made worse by the devastating impact of climate change, compounds the triple-nexus threat of humanitarian, development, and peace challenges, especially on our continent,” he said.
Despite this, he urged delegates not to despair but to develop innovative and sustainable solutions to safeguard African economies.
“This is a watershed moment,” he said. “It should inspire Africa to find solutions that will cushion our economies from future shocks.”
The Tibiyo Model: A Home-Grown Success Story
Dr Dlamini outlined how Tibiyo TakaNgwane serves as Eswatini’s unique sovereign fund, built on home-grown principles and community contributions — from cattle to income generated from state assets such as minerals.
He said Tibiyo has invested significantly in education, cultural identity, and social development, reflecting the vision of His Majesty King Sobhuza II, who envisioned a self-reliant, sustainable, and globally engaged society.
“Over the past 57 years, Tibiyo has amassed assets worth over E2.5 billion, with interests in mining, hospitality, manufacturing, agriculture, and media,” he said.
“Our people are our greatest asset. That’s why we invest in skills development, cultural identity, and social cohesion.”
Future Outlook and Partnerships
Dr Dlamini emphasised that Tibiyo supports the idea of establishing a national sovereign wealth fund in Eswatini, saying it presents an opportunity to mobilise resources, leverage expertise, and strengthen international partnerships.
“We have a lot to offer in terms of lessons from our journey as a country-specific fund,” he said.
“At the same time, we look forward to learning more from others and participating in the massive returns this national project promises.”
Eswatini Observer Press Reader | View Here
