... INVESTOR STOPPED FROM MOVING MONEY WILLY-NILLY

EZULWINI – As evidence that Eswatini’s financial systems are sound, the CBE says it has successfully investigated the investor who wanted to establish a gold refinery in the country and stopped him dead in his tracks of wanting to move money willy-nilly within the country.

The Governor of the Central Bank of Eswatini, Dr Phil Mnisi confirmed to the media that the bank interacted with the so-called investor, who wanted to open a gold refinery in the country. “We confirm that it is the central bank which said that we are not going to give you an open cheque for you to move money willy-nilly within this country, because we are a reputable country of integrity, compliant with all standards and this we will not allow,” the governor said. Dr Mnisi went on to say that he conducted due diligence on the said investor and the bank put a stop to it, ‘and we said we are not going to continue with it until we are satisfied that it is credible and it is not creating a black market of gold clearing and refinery in this country’.

Investment

The governor said the bank took a very firm position to stop the supposed investment and by the time it got to the media, the CBE had already taken a rightful role in this matter. “We have to give credit to all authorities in this country because, had this been true as reported, the refinery would have been up today, but it is still not here four years later. So, there are strong and credible systems that this country has.” However, the governor said that did not suggest that there would be no elements of any form of corruption or uncleanliness. Mnisi further said the bank would always remain resolute and determined to fulfil its mandate of ensuring a sound financial system in the country.

Probing

“We are ready to act, hence we are probing what is happening at ESW and stepping up the probe of what happened at Ecsponent and that is why we have already taken a proactive role of questioning what is happening at Status Capital,” the governor said. Though the governor did not mention names, it has been reported in the leaked reports that there were two gold refineries which wanted to open shop at the Royal Science and Technology Park at Nokwane, Matsapha, a special economic zone (SEZ).

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