BY SETHABILE MYENI
MBABANE – Dr Phil Mnisi, Governor of Central Bank of Eswatini, has assured the nation that at least 64 percent investment made through the Swaziland Women Economic Empowerment (SWEET) will be recovered.
Mnisi disclosed this yesterday during the Induction Conference for the 12th Parliament.
He said this promise comes after Ecsponent and ESWIG disclosed that millions were lost through investments, and after receiving a report from a proper investigation they decided that they will recover about 64 percent of the money invested through the above mention organisations.
“There are companies that were established through the Central Bank of Eswatini and FSRA that had challenges overtime. There is nothing wrong with encountering challenges because it is part of a business lifecycle,” said Mnisi.
He said SWEET is one of the investment schemes that were established and later faced challenges in the long run hence the recovery.
Mnisi stated that some losses were a result of the free exchange control and money was transferred from Eswatini to South Africa easily, and some investments made in South Africa would barely return after maturity.
“Tomorrow we will be meeting with the team and we will give a debriefing on Ecsponent and a report will be issued,” he said.
The governor later suggested cryptocurrency that emaSwati could use to invest through it, he said some were lucky with it while some made losses. He added that the CBE digital currency was backed and supported by the reserves of the country and they were doing a research on it because Eswatini also want to seize the digital world.
