Africa-Press – Eswatini. His Majesty King Mswati III has set an ambitious target for the Eswatini National Provident Fund (ENPF), challenging the institution to reach a turnover of E100 billion within the next 50 years.
The challenge was issued during ENPF’s 50th anniversary celebration held on 11 July 2025 at the Mavuso Exhibition and Trade Centre. The King emphasised that similar institutions across the globe – whether in the US, Japan, or Europe – have achieved remarkable financial growth, and Eswatini should aspire to the same standards.
“ENPF must look to global benchmarks. This fund was created to fight poverty among our people, and it must continue to serve that purpose with greater ambition,” said His Majesty.
The King expressed confidence in ENPF’s ability to rise to the challenge, noting that the institution had maintained a clean financial record since its establishment in 1974 by King Sobhuza II. He praised the fund’s evolution and consistent governance, stating that continued integrity would ensure a secure future for retirees.
Support for Pension Transition
His Majesty also commended the ENPF’s ongoing transition from a provident fund to a pension fund, urging transparency throughout the process to ensure that members remain the primary beneficiaries.
During the ceremony, ENPF CEO revealed that the fund’s assets had grown from E1.1 billion in 2007 to E6.8 billion in 2025. Chairman Mduduzi Gina attributed this growth to the trust of members, the introduction of free funeral policies, and enhanced digital service delivery.
A Legacy of Service
Established in 1974 under the Swaziland National Provident Fund Order (King’s Order in Council No. 23 of 1974), the ENPF was envisioned as a retirement savings scheme for Eswatini’s workforce. It has since evolved into a critical pillar of the country’s social protection framework.
Positioning Eswatini for Global Financing
Meanwhile, His Majesty urged the nation to prepare for opportunities stemming from global development financing. Referring to the United Nations 4th International Conference on Financing for Development held in Seville, Spain from 30 June to 3 July 2025, the King noted that a proposal had been made to raise US$4 trillion in global development funding.
“Eswatini must position itself to benefit from this initiative,” he said. “We are recognised as good debt payers – let us use that reputation to our advantage.”
The King concluded his address by encouraging all Emaswati to unite in building a future of prosperity, accountability, and financial empowerment.
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