MBABANE – Eswatini has intensified its economic diplomacy drive, as Prime Minister Russell Mmiso Dlamini held high-level talks with ITOCHU Corporation’s Africa Bloc Chief Executive Officer (CEO), Shinya Ishizuka.
The meeting held on Monday was meant to explore potential investment opportunities in the kingdom.
ITOCHU, one of Japan’s largest general trading and investment companies (sogo shosha), is globally renowned for its diverse portfolio spanning textiles, machinery, metals, minerals, energy, chemicals, food, ICT, real estate and finance. With approximately 90 operational bases across 61 countries, the corporation represents a significant potential partner for Eswatini’s economic ambitions.
Ishizuka, accompanied by Alex Young, Group Strategy Officer at Texray Industrial Co., Ltd, Japan, engaged the prime minister on possible investments in energy, chemicals, mining, ICT and agriculture, with particular interest in the mass production of sesame and coffee for export markets.
In his remarks, Prime Minister Dlamini assured ITOCHU of Eswatini’s premier investment support, extending an invitation to the corporation to make the kingdom their ‘second home away from Japan.’
“This government is committed to creating a conducive environment for investors of ITOCHU’s calibre. Eswatini stands ready to facilitate your success as part of our shared growth trajectory,” the prime minister said.
He recalled his recent state visit to Japan, where he met with his counterpart, Shigeru Ishiba, who pledged to connect Eswatini with quality investors and extended an invitation to His Majesty King Mswati III to attend the upcoming 9th Tokyo International Conference on African Development (TICAD 9) in August.
Monday’s meeting comes on the heels of the prime minister’s earlier visit to Japan for the World Expo 2025 in Osaka, where he led a robust delegation, including Minister for Commerce, Industry and Trade Manqoba Khumalo and Eswatini Investment Promotion Authority (EIPA) CEO Sibani Mngomezulu, to present the kingdom as a premier investment destination.
During the Expo, Eswatini hosted the Eswatini Business Forum on the sidelines, attracting prominent Japanese stakeholders from both the public and private sectors. The forum presented a unified vision of the country’s economic future, highlighting Eswatini as a strategic gateway into Africa for Japanese businesses.
Addressing the gathering in Osaka, Minister Khumalo pointed to three key attributes that make Eswatini attractive to investors: predictability, ambition and competent leadership.
“Eswatini is people-centric and politically stable,” Khumalo said. “We have a proud tradition of peaceful transfers of power, underpinned by deep-rooted identity and culture. Our predictability is one of our strongest assets.”
He described the kingdom’s leadership as ‘accessible, visionary and private-sector minded,’ highlighting strong coherence between parliament and the executive. “Our aggressive ambition to transition to First World status is supported by a clearly articulated Programme of Action designed to drive double-digit economic growth,” he added.
EIPA Board Chairperson Theo Hlophe used the Osaka platform to emphasise Eswatini’s geographical advantage as a launchpad into the African market.
“Eswatini is strategically positioned in Southern Africa, providing seamless access to major markets like South Africa and Mozambique, as well as broader regional blocs such as SADC and COMESA. This gives investors access to over 300 million consumers,” Hlophe said.
He further highlighted the country’s favourable investment climate, backed by macroeconomic stability, strong legal frameworks and a package of investor-friendly policies tailored to accelerate foreign direct investment.
With ITOCHU expressing interest in agriculture, particularly in sesame and coffee mass production, the talks signal potential diversification of Eswatini’s export base. Current agricultural exports are dominated by sugar and citrus; the addition of high-value crops like sesame and coffee could open new revenue streams, while tapping into Asia’s growing demand for organic and speciality agricultural products.
Energy and chemicals were also flagged as priority sectors, aligning with the kingdom’s broader industrialisation goals.
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