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ESWATINI COUNTRY PROFILE

Eswatini means : Land of the Swatis i.e. Emaswati

Head of State : His Majesty King Mswati III

Population : 1.3 Million

Area : 17,364 sq km (6,704 sq miles)

Major language : Siswati, English (both official)

Major religion : Christianity

Main Currency : Lilangeni (pegged at par to ZAR

Main Exports : Soft drink concentrates, sugar,


wood pulp, citrus and canned fruit

Export Partners : South Africa, EU, Mozambique, USA


Taiwan,

Main Imports : Food, fuels, Machinery, vehicles

Import Partners : South Africa, Botswana, Namibia


Vision
To attain first world status by year 2022
(leadership team to propose extending timeline to beyond 2022)

Mission
To create a policy framework that is consistent,
futuristic and aligned to best practice

Values
Teamwork, Accessible, Integrity, Agility,
Professionalism
Behaviours
Service delivery oriented, Accountability, Punctuality,
Collaborative government, Transparency

Strategic goals
To create an enabling environment in which Emaswati, investors and strategic partners
can thrive.
To create an adaptable and progressive legislative frameowrk that promotes, peace,
stability, justice and prosperity.
To be an efficient, dependable and modern government service provider and partner.
• Five key sectors of the economy are identified as key growth sectors based on ability to
deliver high impact on : Job creation, export revenue generation and GDP
contribution.

• Five key priority themes / actions identified as key interventions that will be focused on to
drive the recovery plan in the key sectors of the economy and broadly.

• The key sectors of the economy and the priority themes /actions are listed below :

KEY SECTORS OF THE ECONOMY KEY PRIORITY THEMES / ACTIONS

• Agriculture • Improving the ease of doing business


• Energy • Enforcing fiscal prudence
• ICT & Education • Building infrastructure capacity
• Manufacturing & agro processing • Delivering social impact
• Tourism • Building a culture of service excellence
Economy Recovery Plan
Short term interventions

JANUARY
TO
DECEMBER
2019
Enforce Fiscal
Prudence
FUNDING THE DEFICIT

• Increase sin taxes by 25%


• Increase speeding and court fines by 100%
• Increase casino levies to 10%
• Increase fuel taxes by E1.20 for roads rehabilitation and maintenance
• Create a sustainable budget for Bogogo
• Scrap or increase to E20 graded tax payments
• Introduce capital gains tax
FUNDING THE DEFICIT CONTINUED

• Increase withholding of taxes on dividends to 15% and taxes on


management fees to 20%

• Increase company tax rates in the banking sector to 30%


• Increase minimum taxable income from E41,001 to E51,001, and introduce
a 39% marginal rate on incomes above E400,000
BUILDING A SAVINGS PLAN

Revenue diversification and expenditure control to reduce wasteful


expenditure and use of resources:
• Pilot/roll out fingerprint-based biometric system to provide accurate
headcount audit of all salaried public servants in all ministries to remove
ghost employees
• Pilot/roll out vehicle tracking devices in all government vehicles and
introduce monthly usage reporting
• Pilot e-sourcing and e-procurement systems with three ministries
• Promote financial literacy amongst all citizens in partnership with the
bankers’ association

• Review PEUs with a view to consolidate, absorb into ministries or privatize


• Sell government interests in private companies, sell government houses in
urban areas.
BUILDING A SAVINGS PLAN - CONTINUED

• Increase road tax for vehicles entering the country.


• Privatize CTA
• Commercialize unused or unproductive government farms
Improve the ease of
doing business
ATTRACTING & RETAINING LOCAL & INTERNATIONAL INVESTMENT

• Drive an export driven economy


• Finalize 24-hour border opening at Ngwenya and Lavumisa border posts
• Reduce corporate taxes to 12.5% to facilitate job creation and retention
for Emaswati
• Establish Commercial Bench for for speedy resolution of commercial
disputes
• Establish a one-stop shop for all business registrations
• Reduce turnaround times for new business registrations (digital) from
30 days to 5 days
• Simplify the tax code for SMEs i.e. introduce presumptive tax.

• Simplify work permits for scarce skills, increase cost to E20 000.00 per year.
ATTRACTING & RETAINING INVESTMENT - CONTINUED

• Roll out Special Economic Zones


• Focus on renewable energy
• Unlock the mining sector
• Open an international financial center
• Relaunch Investor Road Map program and with corresponding public
awareness campaign
• De-link health certificate pre-requisite from trading license issuance
• Refresh and Reposition Brand Eswatini to advance ‘Eswatini is open
for business’ narrative
ATTRACTING & RETAINING INVESTMENT - CONTINUED

• Convene two investment summits in Eswatini and South Africa to present


stimulus package
• Review Eswatini visa regime to launch e-visa and visa-on-arrival for tourists,
and align with RSA requirements
• Liberalize broadband access and improve ICT connectivity, speed, and
pricing

• Convene monthly nationwide ‘keep Eswatini clean’ and ‘tree planting’


campaigns
Building infrastructure
capacity
ENABLING HIGH ECONOMIC GROWTH

• Deliver 40MW solar and 40MW biomass projects (Short-Term Generation


Expansion Plan)
• Deliver 10MW Lavumisa Solar Plant
• Review Bio-safety Act and Fisheries Act
• Build a program to attract more Swazis to migrate from subsistence to
commercial farming
• Renewed focus on the construction of dams.
Deliver
social
impact
IMPROVING THE QUALITY OF LIFE OF ALL EMASWATI

• Double the minimum wage and relax labour laws


• Convene monthly nationwide ‘keep Eswatini clean’ and ‘tree planting’ campaigns
• Discourage the use of plastic bags by imposing a levy
• Develop a social security policy
• Implement legislation and regulations on sectional titles
• Pilot Internet access roll out in schools and in peri-urban and rural areas
• Set up Law Review Commission
• Build capacity in all courts
• Amend VAT schedule to review VAT exemption on essential commodities
Build a culture of service excellence
INVESTING IN DEVELOPING OUR PEOPLE

• Create a culture of service excellence across government, state organs and


the public service
• Ensure senior leadership visibility at all levels of government
• Recapacitate SIMPA into a centre of excellence for training, upskilling and
continuous learning of all public servants
• Implement change management interventions to change attitudes,
behaviours and laissez-faire culture
• Introduce integrated performance management system with clear incentives
for excellence and corrective measures for poor/under performance
UNPACKING SHORT TERM
RECOVERY PLAN BENEFITS
For Emaswati
• Create a sustainable budget for Bogogo
• Scrap or increase to E20 graded tax payments
• Increase minimum taxable income from E41,001 to E51,001
• Double the minimum wage and relax labour laws
• Discourage the use of plastic bags by imposing a levy
• Develop a social security policy
• Implement legislation and regulations on sectional titles
• Pilot Internet access roll out in schools and in peri-urban and rural areas
• Set up law review commission, Build capacity in all courts
• Amend VAT schedule to review VAT exemption on essential commodities
• Convene monthly nationwide keep Eswatini clean & tree planting campaigns
For civil servants
• Create a culture of service excellence across government, state organs and
the public service
• Ensure senior leadership visibility at all levels of government
• Recapacitate SIMPA into a centre of excellence for training, upskilling and
continuous learning of all public servants
• Implement change management interventions to change attitudes, behaviors
and laissez-faire culture
• Introduce integrated performance management system with clear incentives
for excellence and corrective measures for poor/under performance

• Increase minimum taxable income from E41,001 to E51,001


For business
• Drive an export driven economy
• Finalize 24-hour border opening at Ngwenya and Lavumisa border posts
• Reduce corporate taxes to 12.5% to facilitate job creation and retention
for Emaswati
• Establish Commercial Bench for for speedy resolution of commercial
disputes
• Establish a one-stop shop for all business registrations
• Reduce turnaround times for new business registrations (digital) from
30 days to 5 days
• Simplify the tax code for SMEs i.e. introduce presumptive tax.

• Simplify work permits for scarce skills, increase cost to E20 000.00 per year.

• Roll out Special Economic Zones


• Focus on renewable energy
• Unlock the mining sector
• Open an international financial center
• Relaunch Investor Road Map program and with corresponding public awareness
campaign
• De-link health certificate pre-requisite from trading license issuance
• Refresh and Reposition Brand Eswatini to advance ‘Eswatini is open
for business’ narrative

• Convene two investment summits in Eswatini and South Africa to present


stimulus package

• Review Eswatini visa regime to launch e-visa and visa-on-arrival for tourists, and
align with RSA requirements

• Liberalize broadband access and improve ICT connectivity, speed, and pricing
BUILD CAPACITY

• Deliver 40MW solar and 40MW biomass projects (Short-Term Generation


Expansion Plan)
• Deliver 10MW Lavumisa Solar Plant
• Review Bio-safety Act and Fisheries Act
• Build a program to attract more Swazis to migrate from subsistence to
commercial farming
• Renewed focus on the construction of dams.
For Labour
• Increase minimum taxable income from E41,001 to E51,001
• Double the minimum wage and relax labour laws
• Implement legislation and regulations on sectional titles
• Recapacitate SIMPA into a centre of excellence for training, upskilling and
continuous learning of all public servants
Civil Society
• Create a sustainable budget for Bogogo
• Scrap graded tax payments???
• Launch SODV Act
• Civil Registration of all children born as of 2019
• Payment of bursaries and examination fees for OVCs
• Develop multi-hazard contingency plans
• Development of a social assistance policy
• Development of a social security policy
• Improved targeting and disbursement of grants
END …