MBABANE – The Central Bank of Eswatini (CBE) has once again elevated Eswatini’s presence on the global financial stage after its innovative E786 million Protea Bond secured a major international accolade.
The bank was honoured with the Local Currency Bond Deal of the Year – Supranational, Sovereign and Agency 2026 Award at the Global Banking and Markets Africa 2026 held in Cape Town, South Africa.
The award recognises CBE’s groundbreaking approach in structuring and issuing the Protea Bond, which was successfully listed in August last year on the Johannesburg Stock Exchange (JSE).
The bond forms part of the broader E4 billion Protea Bond Programme, aimed at deepening capital markets and enhancing access to funding.
The Protea Bond has been widely praised for its innovative structure and strategic positioning within regional capital markets. By listing on the JSE, the CBE effectively tapped into a larger and more liquid investor base, strengthening Eswatini’s integration into regional and international financial systems.
The recognition celebrates ‘ground-breaking achievements’ across sovereign, corporate and financial institution issuances, with a strong focus on innovation, impact and market development.
For Eswatini, the accolade signals growing confidence among international investors and reinforces the country’s ability to design and execute complex financial instruments.
Accepting the award on behalf of the Central Bank were Nhlanhla Mthethwa, Deputy Director for International and Domestic Markets and Helder Da Silva, Deputy Director for Risk and Compliance.
Their presence at the ceremony underscored the technical expertise within the CBE, particularly in areas of capital market development, risk management and cross-border financial transactions.
The Governor of the Central Bank, Dr Phil Mnisi, who also attended the ceremony, commended the institution for its continued excellence and innovation.
This latest accolade marks yet another milestone for the Protea Bond Programme, which has already attracted attention within financial circles.
The governor highlighted that this was the second award linked to the JSE issuance under the E4 billion programme, signalling sustained recognition of the bank’s efforts to modernise Eswatini’s financial architecture.
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CBE Retail Bond opens investment doors widely
MBABANE – The Central Bank of Eswatini (CBE) has taken a bold and inclusive step to transform how ordinary emaSwati participate in the country’s financial system.
This has been brought by the introduction of its inaugural Retail Bond Programme.
In a move that directly targets underprivileged and marginalised members of society, the Central Bank is making it possible for individuals to invest with as little as E500, an amount that many previously considered too small to enter formal investment markets.
The initiative, already at an advanced stage, was unveiled by CBE Governor Phil Mnisi, during a panel discussion at the Global Banking and Markets Africa 2026 held in Cape Town, South Africa.
At the heart of this initiative is a message that could reshape financial habits across the country: Your E500 can work for you.
For many emaSwati, especially those in low-income households or operating in the informal sector, saving often means keeping money at home or in basic accounts that generate little to no return.
Investing, on the other hand, has long been seen as something reserved for the wealthy or large institutions. The CBE’s retail bond programme is challenging that perception.“Eswatini is in the process of introducing its inaugural retail bond, which will accommodate the underprivileged and marginalised members of society. The minimum amount that can be purchased is as little as E500 and in multiples of E100,” said Mnisi.
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