MBABANE – Government has opened a new E200 million investment opportunity for individuals, businesses and institutional investors through its first bond issuance of 2026.
This opportunity offers fixed interest returns of up to 12.00 per cent over periods ranging from two to nine years.
The investment opportunity, facilitated by the Central Bank of Eswatini (CBE), will be auctioned on January 28, 2026 and is open to the public through the country’s four commercial banks. It allows emaSwati to invest directly in government securities while earning stable, tax-free interest. Rather than being just a government funding exercise, the bond issuance gives ordinary citizens, companies and pension funds a chance to grow their money through a low-risk investment backed by the State.
Government is issuing four fixed-coupon bonds, each worth E50 million, bringing the total value to E200 million.
The bonds are structured as follows:
- SG118 – Matures June 30, 2028, paying 10.50 per cent
- SG119 – Matures June 30. 2030, paying 11.00 per cent
- SG120 – Matures June 30, 2032, paying 11.50 per cent
- SG121 – Matures June 30, 2035, paying 12.00 per cent
Investors will receive interest payments twice a year, on June 30 and December 31, until the bonds mature, at which point the full investment amount is repaid.
The Central Bank of Eswatini said the bond issuance helps the government:
- Meet budgetary needs
- Support public service delivery
- Develop the local financial market
- Establish fair market interest rates
- Strengthen financial intermediation
In other words, bonds help fund national priorities while also growing the country’s investment ecosystem.Government bond yields influence interest rates across the economy. When bond returns are high, borrowing costs for businesses often rise too.
This affects:
- Business loans
- Expansion plans
- Property financing
- Working capital costs
At the same time, bonds provide safe investment options for pension funds and insurance companies that later finance private sector growth.
A stable bond market supports business confidence and financial planning.
The auction will take place on January 28, 2026, with settlement on February 2, 2026.
Investors must apply through their commercial banks, which act as primary dealers. Applications must be submitted before 10am on auction day and captured in the Central Securities Depository system.
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