AGP Executive Report

Sugar Industry Upgrade: SKF’s Single Line automatic grease system is being rolled out to improve efficiency and health-and-safety compliance across six Eswatini sugar mills, with CG Trading handling onsite workshop support. Energy & Infrastructure Finance: A World Bank-linked report flags Eswatini’s USD 300 Taiwan deal for the Phuzumoya Strategic Oil Reserve as a major energy-security bet—while questioning affordability amid high unemployment and poverty. Governance & Oversight: The National Assembly resumes as MPs continue oversight and regional/international engagements, while local governance news highlights Jozini’s push to stabilise finances after Auditor General findings on irregular and wasteful spending. Financial Sector Tension: A legal opinion challenges the ENPF board chair appointment process, leaving the fund effectively paralysed after employer and employee representatives suspended participation. Trade & Logistics: Regional coverage points to stronger maize export activity and terminal upgrades in South Africa, underscoring how port reliability and maintenance affect food-agri flows. Creative Economy Push: ESWACOS confirms first royalty distributions are expected in 2026/27, alongside World Book and Copyright Day efforts to protect SiSwati stories in the digital age. Tourism & Border Flow: Ngwenya Border Post sees heavy traffic as MTN Bushfire Festival crowds pour in, boosting short-term services and connectivity demand. Manufacturing & State Documents: Turkmen electronics firm Aýdyň Gijeler says it agreed a project to produce Eswatini national IDs and biometric passports, with land allocated for production facilities. Regional Context: Opinion and reporting continue to scrutinise Eswatini’s Taiwan ties and the wider impact of China’s zero-tariff policy that excludes Eswatini.

China Zero-Tariff Push: China’s duty-free zero-tariff access for 53 African countries is already moving goods—like South African apples clearing into Shenzhen—yet Eswatini businesses still need to prepare for export standards, packaging, processing costs, and logistics, or preferential access won’t translate into real industrial gains. Diplomatic Ties & Trade Links: Taiwan’s Vice President Hsiao Bi-khim is set to visit Palau to deepen cooperation in healthcare, agriculture and infrastructure, while Tuvalu reiterates support under its treaty framework—both moves underline how Pacific partnerships are tied to Taiwan’s wider international strategy. ENPF Governance Crisis: A confidential legal opinion challenges the Labour Minister’s defence of the ENPF board chair appointment, saying parts of the process were legally and factually incorrect; employer and employee reps have suspended board participation, leaving the fund effectively paralysed. Security & Logistics Tech: Fidelity Services Group says its new purpose-engineered cash-in-transit vehicles have recorded no attacks since deployment, alongside a reported drop in CIT robberies—relevant for cross-border cash logistics that also serve Eswatini. Creative Economy Momentum: ESWACOS confirms first royalty distributions are expected in the 2026/27 financial year after licensing and music tariffs were approved, as Eswatini marks World Book and Copyright Day with a push to protect SiSwati stories in the digital age. Border & Tourism Flow: Ngwenya Border Post is seeing heavy traffic as MTN Bushfire Festival visitors pour in, with organised queues and local vendors selling SIM cards to keep travellers connected. Industrialisation Signals: Reports on Africa’s industrialisation rankings highlight Morocco’s rise and Eswatini’s presence among leading industrialisers, reinforcing the need for sustained investment and policy execution.

Energy & Transport Costs: Diesel price pressure across East and Southern Africa is feeding straight into freight, farming, and everyday goods costs, squeezing operators on tight margins and raising the risk of higher food prices. Governance & Finance: A confidential legal opinion has challenged the Labour Minister’s defence of Derrick Shiba’s appointment as chair of the incapacitated ENPF Board, leaving employer and employee representatives boycotting board work and forcing Prime Minister Russell Dlamini’s intervention. Manufacturing & Trade Links: Turkmen electronics firm Aýdyň Gijeler says it has agreed with Eswatini to supply secure IDs and biometric passports, including 1.5m national ID cards and 500k+ passports, with 4 hectares allocated for local production. Creative Economy: ESWACOS says the first royalty distribution for rights holders is expected in the 2026/27 financial year after licensing and music tariff approvals. Tourism & Border Flow: Ngwenya Border Post is handling heavy traffic as thousands cross for the MTN Bushfire Festival, with telecom vendors selling SIMs to keep visitors connected. CIT Security: Fidelity Services reports no attacks on its newly deployed cash-in-transit trucks, alongside a broader decline in CIT robberies in South Africa. Local Industry Spotlight: IDCE announced a E14.5m dividend for FY ending June 30, 2025, highlighting support for agriculture and targeted turnaround financing. Culture & Youth: The 2026 EU Bushfire Schools Festival opened at House on Fire with youth performances led by heritage expert Allington Ndlovu. Policy Watch (Regional): China’s zero-tariff expansion to 53 African countries excludes Eswatini, while negotiations focus on non-tariff barriers for Zimbabwe. Energy Security Deal: Eswatini’s $300m Taiwan-backed Phuzumoya Strategic Oil Reserve is raising debate over affordability amid poverty and unemployment concerns.

Taiwan–Eswatini Labour Links: Taiwan’s foreign ministry says it is assessing whether to recruit workers from Eswatini, with a stated focus on upgrading Eswatini vocational training and meeting industry labour shortages, while stressing safeguards on security, health and employment rights. Diplomacy Under Scrutiny: Multiple opinion pieces argue Eswatini’s continued ties with Taiwan are costing the kingdom trade and investment opportunities, and describe Lai Ching-te’s secretive Eswatini visit as political theatre rather than genuine diplomacy. Bushfire Festival Logistics: Ngwenya Border Post saw heavy queues as thousands entered for the 2026 MTN Bushfire Festival, with festival build-up underway at House on Fire and telecom vendors selling SIMs to keep visitors connected. Youth & Culture at House on Fire: The EU Bushfire Schools Festival opened with over 600 pupils from 42 schools, led by Allington Ndlovu, showcasing art, music and storytelling. Copyright Payments for Creatives: ESWACOS confirmed first royalty distributions are expected in the 2026/27 financial year after licensing and music tariffs were approved and licensing began in January. Energy Deal Watch: Eswatini signed a $300m agreement with Taiwan for the Phuzumoya Strategic Oil Reserve, raising questions about affordability amid high unemployment and poverty. Industrial Finance Spotlight: IDCE declared a E14.5m dividend for FY ending June 30, 2025, highlighting turnaround support for agriculture and targeted lending.

Turnaround in Furniture Retail: Lewis Group says its UFO chain is still under pressure, moving to close three underperforming stores and plan two more shutdowns to “right-size” operations while refining new furniture ranges to push sales toward break-even. Creative Economy & IP: ESWACOS confirms first royalty distributions are due in the 2026/27 financial year after licensing and music tariff approvals, with World Book and Copyright Day events spotlighting SiSwati stories in the digital age. Festival Trade & Tourism Flow: Ngwenya Border Post saw heavy queues as thousands entered for the MTN Bushfire Festival, with vendors and telecoms selling SIMs to keep visitors connected. Security & Cash Logistics: Fidelity Services Group reports improved CIT safety, including no attacks on newly deployed trucks, alongside a new purpose-engineered vehicle rollout across South Africa and Eswatini. Energy Infrastructure Watch: Eswatini’s $300m Phuzumoya Strategic Oil Reserve deal with Taiwan is raising tough questions about affordability amid poverty and unemployment concerns. Youth & Skills: The EU Bushfire Schools Festival opened with Ndlovu-led youth performances, while Taiwan says it’s assessing recruitment to help upgrade Eswatini vocational centres.

Eswatini Creative Economy: ESWACOS says the first royalty distributions are expected in the 2026/27 financial year, after tariffs were approved in late 2025 and licensing began in January—an important step for creators pushing SiSwati stories in the digital age. Border & Tourism Pulse: Ahead of the MTN Bushfire Festival, Ngwenya Border Post saw heavy queues as thousands crossed from South Africa, with vendors selling SIM cards and festival preparations ramping up at House on Fire. Security & Logistics: Fidelity Services Group launched next-generation cash-in-transit vehicles and reports no attacks on newly deployed trucks, alongside declines in successful attacks and cross-pavement robberies—relevant for cash logistics across South Africa and Eswatini. Energy Infrastructure Watch: Eswatini signed a $300m deal with Taiwan for the Phuzumoya Strategic Oil Reserve, raising big questions about affordability amid poverty and unemployment. Skills & Industry Linkages: Taiwan says it is still assessing recruiting from Eswatini, while prioritising upgrades to vocational training centres for manufacturing, tourism, energy and infrastructure. Competition Policy: The Eswatini Competition Commission issued guidance on exclusive supply agreements, flagging both pro-competitive benefits and risks of market entrenchment.

Energy & Infrastructure: Eswatini signed a $300m deal with Taiwan to build the Phuzumoya Strategic Oil Reserve—an 80-million-litre petrol/diesel stockpile—aimed at boosting energy security, but it lands amid high unemployment and poverty pressures. Manufacturing & Trade Policy: The African Development Bank’s Africa Industrialisation Index puts Morocco top in 2024, with Eswatini listed among the leading industrial performers—useful context for local firms watching regional competitiveness. Competition & Business Conduct: The Eswatini Competition Commission flagged growing interest in exclusive supply agreements, warning that while they can drive investment, they can also restrict market access and entrench dominance. Financial Services & Security: Fidelity Services Group says its new cash-in-transit vehicles have recorded zero attacks since deployment, citing improved protection and declining CIT incidents—relevant for retailers and cash logistics across Eswatini and South Africa. Health & HIV Prevention: Lenacapavir PrEP rollout is expanding in Eswatini after a pilot, with demand outpacing supply and uptake reported especially among women and youth. Creative Economy: Eswatini marked World Book Day 2026 with a push to protect SiSwati stories and intellectual property in the digital age.

Industrial Policy & Exports: China’s new zero-tariff policy for African goods (effective May 1) is being pitched as a major export boost, but businesses are warned to meet Chinese food safety and product standards fast. Industrialisation Benchmarking: The AfDB’s Africa Industrialisation Index puts Morocco top for the first time, with South Africa slipping and Eswatini listed among the leading industrial performers in 2024. Finance & Competition: A former Eswatini Mobile CFO has filed an E2.2m claim at the Industrial Court, seeking reinstatement and unpaid benefits after termination. Security & Logistics: Fidelity Services Group reports no attacks on its newly deployed cash-in-transit vehicles, citing declining CIT crime and continued service coverage across South Africa and Eswatini. Energy Infrastructure: Eswatini’s $300m strategic oil reserve deal with Taiwan is raising tough questions about affordability amid poverty and unemployment. Skills & Labour Mobility: Taiwan says it is still assessing recruiting workers from Eswatini, with a focus on upgrading vocational training for manufacturing, tourism, energy and infrastructure. Policy Watch: The Eswatini Competition Commission highlights how exclusive supply agreements can be pro-competitive or harmful, urging businesses to comply with competition rules.

Industrial Justice: Ex-Eswatini Mobile CFO Enock Dube has filed an E2.2m claim at the Industrial Court, challenging his termination and seeking reinstatement, arguing the exit was unlawful and unfair. Security & Logistics: Fidelity Services Group says its new purpose-engineered cash-in-transit vehicles have recorded zero attacks since deployment, alongside reported declines in CIT robberies and cross-pavement incidents—important for cash movement across South Africa and Eswatini. Energy Infrastructure: Eswatini’s $300m strategic oil reserve deal with Taiwan is drawing sharp debate over affordability and priorities amid high unemployment and poverty. Housing & Policy Framing: A World Urban Forum discussion in Baku spotlighted how the definition of “housing” affects funding flows—an issue with direct implications for Eswatini’s built-environment planning. Competition & Business Rules: The Eswatini Competition Commission is educating firms on exclusive supply agreements, warning they can harm market access even when they may be pro-competitive in some cases. Health Supply: Demand for long-acting HIV prevention injection (lenacapavir) is outpacing supply in parts of Africa, with Eswatini among the first rollout countries. Tech & Payments: PayPal’s expansion to more markets includes Eswatini, aiming to boost cross-border payments for MSMEs and e-commerce traders.

Cash Logistics Upgrade: Fidelity Services Group says its new purpose-engineered cash-in-transit vehicles have seen no recorded attacks since deployment in late 2023, citing declines in CIT robberies and improved protection design, while noting its massive daily network across South Africa and Eswatini. Energy Infrastructure Debate: Eswatini’s $300m strategic oil reserve deal with Taiwan is drawing scrutiny as the country weighs energy-security gains against poverty, unemployment, and concerns over elite enrichment. Taiwan–Labour and Skills: Taiwan’s foreign ministry says it’s still assessing recruiting workers from Eswatini, with a focus on upgrading Eswatini vocational training centres for manufacturing, tourism, energy and infrastructure needs. Competition Policy Watch: Eswatini’s competition authority flags growing interest in exclusive supply agreements, warning businesses about how such deals can either boost efficiency or entrench dominance. Retail and Supply Chains: Pick n Pay outlines plans for new store openings and supply-chain optimisation, with operations that include Eswatini. Public Health Demand: Lenacapavir HIV prevention injection rollout is expanding in Eswatini, but demand is outpacing supply in parts of Africa. Local Industry Spotlight: MTN Bushfire Festival preparations include Eswatini Beverages brands, showing continued consumer-market activity.

Festival Build-Up: MTN Bushfire Festival grounds at House On Fire are coming alive fast, with crews racing to finish the camping areas, main stage, global food village and barn marketplace ahead of Thursday’s opening—plus wristbands for police, fire and emergency teams, charging stations for thousands, and brand stalls from Eswatini Beverages (Corona and Sibebe). Energy Finance Debate: Eswatini has signed a $300m Taiwan deal to build the Phuzumoya Strategic Oil Reserve (80 million litres of petrol and diesel), but the move lands amid deep poverty and high unemployment—raising the big question: can the country afford it, and can it afford not to? Diplomacy & Labour Links: Taiwan says it’s still assessing whether to recruit Eswatini workers, while focusing on upgrading vocational training centres; meanwhile, growing scrutiny continues around Taiwan–Eswatini ties. Tech & Skills Spotlight: A local robotics team won a national award in Texas, adding momentum to STEM training efforts.

Taiwan–Eswatini Scrutiny Intensifies: Taiwan says it is still assessing recruitment of Eswatini workers, while a week of fresh reporting keeps pressure on the relationship’s motives and governance questions. Digital Sovereignty & Connectivity: Uganda’s Starlink licensing debate is turning on taxation, security oversight, and whether a local ground station will route traffic through Ugandan infrastructure. Competition Watch: Eswatini’s competition authorities are flagging how exclusive supply deals can either boost investment or lock out smaller firms—urging businesses to stay compliant. Maritime & Trade Signals: Nigeria doubles down on its “Deep Blue” push, citing four years of zero piracy in territorial waters and aiming to cut war-risk shipping costs. Health Demand Outruns Supply: A long-acting HIV prevention injection is seeing faster uptake than available stocks in parts of Africa, with Eswatini among the first rollout countries. Azerbaijan–Eswatini Mining Push: Baku and Eswatini signed a mining MoU as Azerbaijan markets a “South-South” model built on capacity building, not just extraction. Local Governance & Labour: Government says it is engaging South Africa over alleged exploitation of Emaswati workers, focusing on protections and migration governance.

Regulatory Alarm in Beauty Services: South Africa’s fast-growing, Instagram-driven “aesthetics” boom is drawing fresh scrutiny after reports of invasive cosmetic procedures being offered outside regulated healthcare settings, with Johannesburg studio Sir Tim Aesthetics (under @_sir_tim) failing to respond to safety and qualification questions. Payments for MSMEs: PayPal says it’s expanding PYUSD to more markets, including Eswatini, aiming to make cross-border payments easier for small businesses and freelancers. HIV Prevention Supply Tightens: Demand for long-acting HIV prevention injections is outpacing supply in parts of Africa; Eswatini’s rollout is underway but still limited by stock availability. Labour Migration Watch: Eswatini-linked concerns are echoed regionally as Eswatini workers in South Africa face renewed scrutiny over alleged exploitation and trafficking via labour brokers. Mining Deal Momentum: Azerbaijan and Eswatini signed an MoU to deepen mining cooperation, including geological data sharing and joint project talks.

Retail Turnaround: Pick n Pay says it’s moving from closures and “store resets” into selective growth, targeting seven new store openings in South Africa this year after completing most of its reset work by FY to March 2026, with emphasis on better fresh categories, product availability, and supply-chain efficiency. Payments & MSMEs: PayPal plans to expand PayPal USD (PYUSD) to 27 countries, including Eswatini, aiming to help SMEs and e-commerce traders receive cross-border payments through local digital wallets and Mobile Money. HIV Prevention Rollout: Demand for the twice-yearly HIV prevention injection is outpacing supply across parts of Africa; Eswatini is among the first to receive the rollout, expanding from five pilot sites to 27. Labour Migration Pressure: Eswatini-linked concerns are pushing government to engage South Africa over alleged exploitation of Emaswati workers, including trafficking and illegal recruitment fees. EU Diplomacy: The EU urged Eswatini to uphold multilateralism amid conflict and “economic coercion.” Mining MoU: Azerbaijan and Eswatini signed a mining cooperation memorandum via AzerGold and Eswatini’s natural resources ministry, covering exploration data, feasibility studies, and joint working groups.

Taiwan–Eswatini spotlight: A new analysis questions whether Taiwan should “invest far more” in the small set of countries that still recognize it, naming Eswatini among its remaining allies and framing the issue as strategic, not sentimental. Labour protection push: Eswatini’s government says it is engaging South Africa to strengthen protections for Emaswati migrant workers after allegations of exploitation and trafficking in mines, forestry, farms and domestic work. EU multilateralism message: The EU urged Eswatini to stay committed to multilateralism, warning that the rules-based order is under pressure from conflict and economic coercion. Regional coordination: SADC foreign ministers committed to stronger cooperation on food and fuel pressures, trade disruptions and regional integration. Business signals: Varun Beverages secured a 10-year PepsiCo bottling extension and lifted flexibility on non-PepsiCo activities, while smartphone imports hit a record in Nepal—showing demand momentum beyond the region. Mining ties: Azerbaijan and Eswatini signed MoUs to deepen mining cooperation, including geological exploration and investment models.

Regional Diplomacy: SADC foreign ministers met at Kruger National Park and agreed to push deeper integration and a more coordinated regional voice on global issues, flagging climate change, Middle East conflict, and trade/energy shocks that are lifting food and fuel prices. Labour Migration: Eswatini says it is engaging South Africa after allegations that Emaswati workers are being exploited by labour brokers in mining, forestry, agriculture and domestic work, including unsafe conditions and trafficking claims. EU Multilateralism Push: The EU urged Eswatini to uphold multilateralism amid a rules-based system under pressure, linking peace and security to cooperation with partners in Africa. Tech & Imports: Smartphone imports are surging in the region, with one report noting record levels—an indicator of rising demand for higher-priced devices. Eswatini-Linked Mining Moves: Azerbaijan and Eswatini signed/advanced mining cooperation in Baku, including data-sharing and joint project discussions. Arts & Culture: ENCAC launched nine-month interim committees to formalise national arts associations, aiming for better governance and long-term sustainability.