GOVERNMENT BONDS UP 2.2 PER CENT

MBABANE – There was no change from August’s figures of E5.453 billion to September’s E5.452 billion in total government bonds value during the period under review.

Year-on-year, government bonds marked a 2.213 per cent increase in the total value traded on the Eswatini Stock Exchange (ESE). This is as per the ESE monthly report for September. Meanwhile, the ESE Market Committee held a virtual meeting to consider the E5 billion Eswatini Government bond issuance programme application on the ESE.

Clarifications

The committee looked into the application and listened to the presentations and clarifications by the Central Bank of Eswatini as government debt sponsor. The application was approved subject to the CBE furnishing the committee with the relevant documents. The CBE furnished all the documents on the last day of September together with the issuer’s legal advisor’s confirmation that the issuer’s documents were complete, met regulatory standards, save only to those exemptions accorded by law due to the unique circumstances of the issuer and its proximity to the Government of Eswatini.

Issuance

With the above documents received, the E5 billion government bond issuance programme was moved from a conditional approval to a firm approval. Meanwhile, as of September 30, 2021; total corporate bonds value stood at E1.311 billion. There was one bond that commenced trading in the period under review and it was FIN311 worth E20 million. Year-on-year, corporate bond activity marked a 5.454 per cent increase in the overall total trading on the ESE, from E1.239 billion in September last year to E1.311 billion in September  this year.

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