CBE’S JSE BOND LISTING PUTS ESWATINI ON GLOBAL STAGE

MBABANE – The CBE groundbreaking listing of the R4 billion Bond on the Johannesburg Stock Exchange (JSE) is not only boosting the country’s financial markets but also earning global recognition. The R400 million inaugural issuance of the Protea Bond, made under this listing, has been shortlisted for the Global Banking & Markets Africa Awards 2025.This high-profile nomination places Eswatini alongside other international players, with the Protea Bond recognised in three competitive categories: Sovereign, Supra & Agency Bond Deal of the Year, Debut SSA Bond Deal of the Year and High Yield Debt Deal of the Year.

John Harrison, Head of Editorial at Global Banking and Markets, highlighted the significance of the awards. “These awards celebrate the most innovative and groundbreaking deals from sovereign, corporate and financial institution issuers worldwide. We are thrilled to bring the industry together once again for the awards ceremony at the Mount Nelson Hotel in Cape Town on March 26, 2025,” Harrison said. Eswatini’s R4 billion listing on the JSE under the Protea Bond programme marks a historic moment for the country.
This segment allows foreign governments to issue South African Rand-denominated bonds on the JSE, offering a unique opportunity to attract investors while diversifying funding sources.

Significant

Since the listing, Eswatini has already realised significant gains, starting with the successful issuance of the R400 million Bond. Dr Melvin Khomo, the Director of Financial Markets at CBE, expressed pride in this global recognition. “This nomination is not only a testament to the strength of Eswatini’s financial strategy but also a signal to investors that we are a credible and competitive player in the regional and international markets,” he said. The nomination reflects the growing sophistication of Eswatini’s financial ecosystem and its ability to attract global attention. Should the Protea Bond win in any of the categories, it would further cement Eswatini’s reputation as a rising financial hub in Africa.
This recognition, coupled with the positive impact of the bond listing, demonstrates the strategic importance of innovative financial instruments in driving economic growth and global visibility for smaller economies like Eswatini.

Confidence

The Minister for Finance Neal Rijkenberg had previously stated that choosing to list in the South African market represents a demonstration of government’s confidence in the South African markets, given their participation in the Common Monetary Area (CMA) and strong economic links with South Africa. Sovereign bonds are an important tool for governments to raise funds for large and critical capital projects such as roads, power stations and hospitals.

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