{"id":49043,"date":"2024-05-07T17:25:46","date_gmt":"2024-05-07T17:25:46","guid":{"rendered":"https:\/\/www.africa-press.net\/eswatini\/?p=49043"},"modified":"2024-05-07T17:15:26","modified_gmt":"2024-05-07T17:15:26","slug":"eswatini-welcomes-investment-prioritises-financial-stability","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/eswatini\/all-news\/eswatini-welcomes-investment-prioritises-financial-stability","title":{"rendered":"ESWATINI WELCOMES INVESTMENT, PRIORITISES FINANCIAL STABILITY"},"content":{"rendered":"

Africa-Press – Eswatini. <\/strong><\/span>The Central Bank of Eswatini (CBE) is sending a clear message that Eswatini is open for business, but not at the expense of financial stability.<\/b><\/p>\n

CBE Governor Dr Phil Mnisi at the second edition media engagement dubbed \u2018 Tea and Coffee with Governor\u2019 elaborated on the country’s approach to attracting new banks during the first edition of the media engagement.<\/p>\n

Dr Mnisi reiterated the country’s desire to attract new banks, particularly niche players and technology-driven institutions.<\/p>\n

Eswatini is actively seeking investment in its financial sector, but with a discerning eye, according to Central Bank Governor Dr Phil Mnisi.<\/p>\n

However, he emphasises that regulatory standards will not be compromised.<\/p>\n

\u201cWe will not relax the regulatory process and approval but we are saying we are open, especially for niche banks,\u201d said Dr Mnisi.<\/p>\n

Eswatini is particularly interested in niche banks that can cater to specific underserved segments of the market.<\/p>\n

These could include banks specialising in areas like agriculture, development finance, or small and medium-sized enterprises (SMEs).<\/p>\n

Technological innovation plays a key role.<\/p>\n

Eswatini welcomes the entry of technologically advanced financial institutions (fintech) that can introduce new products and services, potentially enhancing financial inclusion and efficiency, according to the governor.<\/p>\n

Dr Mnisi confirmed on-going conversations with several institutions.<\/p>\n

established<\/p>\n

He said discussions are already underway with some established fintech companies, suggesting potential partnerships or licensing opportunities.<\/p>\n

He added that Eswatini is also open to proposals from local entities aiming to enter the mainstream banking sector.<\/p>\n

\u201cThere are others that are already looking to venture into mainstream banking even locally, that we are talking to,\u201d he said.<\/p>\n

While welcoming new players, Dr Mnisi said institutions that contribute meaningfully will be prioritised.<\/p>\n

He said CBE seeks banks willing to invest directly in Eswatini’s economic growth and development.<\/p>\n

\u201cWe are open but that does not mean we will take just anyone. We are looking for credible financial institutions that will add value and put their money in the banking system,\u201d said Dr Mnisi.<\/p>\n

He further indicated that CBE seeks credible institutions that prioritise responsible financial practices and avoid exploiting local deposits for personal gain.<\/p>\n

\u201cWe want those that are prepared to invest instead of using the local deposits and spin it for their own benefit,\u201d he said.<\/p>\n

Dr Mnisi acknowledged the need for confidentiality in on-going discussions, hence his inability to disclose the names of specific institutions.<\/p>\n

\u201cI cannot mention names given the nature of the transactions and relationships,\u201d said Dr Mnisi.<\/p>\n

For More News And Analysis About Eswatini<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Eswatini. The Central Bank of Eswatini (CBE) is sending a clear message that Eswatini is open for business, but not at the expense of financial stability. CBE Governor Dr Phil Mnisi at the second edition media engagement dubbed \u2018 Tea and Coffee with Governor\u2019 elaborated on the country’s approach to attracting new banks […]<\/p>\n","protected":false},"author":84,"featured_media":49042,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5],"tags":[234,248,249],"class_list":["post-49043","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","tag-africa-press","tag-africa-press-eswatini","tag-eswatini"],"yoast_head":"\nESWATINI WELCOMES INVESTMENT, PRIORITISES FINANCIAL STABILITY - Eswatini<\/title>\n<meta name=\"description\" content=\"The Central Bank of Eswatini (CBE) is sending a clear message that Eswatini is open for business, but not at the expe ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/eswatini\/all-news\/eswatini-welcomes-investment-prioritises-financial-stability\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"ESWATINI WELCOMES INVESTMENT, PRIORITISES FINANCIAL STABILITY\" \/>\n<meta property=\"og:description\" content=\"The Central Bank of Eswatini (CBE) is sending a clear message that Eswatini is open for business, but not at the expe ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/eswatini\/all-news\/eswatini-welcomes-investment-prioritises-financial-stability\" \/>\n<meta property=\"og:site_name\" content=\"Eswatini\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2024-05-07T17:25:46+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/eswatini\/sites\/33\/2024\/05\/sm_1715089366.603348.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1280\" \/>\n\t<meta property=\"og:image:height\" content=\"720\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/eswatini\/all-news\/eswatini-welcomes-investment-prioritises-financial-stability#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/eswatini\/all-news\/eswatini-welcomes-investment-prioritises-financial-stability\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/eswatini\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"ESWATINI WELCOMES INVESTMENT, PRIORITISES FINANCIAL STABILITY\",\"datePublished\":\"2024-05-07T17:25:46+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/eswatini\/all-news\/eswatini-welcomes-investment-prioritises-financial-stability\"},\"wordCount\":427,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/eswatini\/all-news\/eswatini-welcomes-investment-prioritises-financial-stability#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/eswatini\/sites\/33\/2024\/05\/sm_1715089366.603348.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Eswatini\",\"Eswatini\"],\"articleSection\":[\"all news\",\"economy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/eswatini\/all-news\/eswatini-welcomes-investment-prioritises-financial-stability#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/eswatini\/all-news\/eswatini-welcomes-investment-prioritises-financial-stability\",\"url\":\"https:\/\/www.africa-press.net\/eswatini\/all-news\/eswatini-welcomes-investment-prioritises-financial-stability\",\"name\":\"ESWATINI WELCOMES INVESTMENT, PRIORITISES FINANCIAL STABILITY - 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