Eswatini seeks E3.79 billion in new loans
Government plans to borrow up to E1.6 billion from Standard Bank for infrastructure and social projects.
The Eswatini government is seeking E3.79 billion in new loans, with E1.6 billion earmarked from Standard Bank of South Africa. Minister for Finance Neal Rijkenberg tabled three loan Bills in the House of Assembly on Thursday to secure the funds. The proposed borrowing from Standard Bank is intended to finance a portfolio of infrastructure and social development projects.
The loan from Standard Bank, which will act as the sole mandated lead arranger, will carry a margin of 4.95 per cent per annum over the ZARONIA reference rate. Government will also pay an arranging fee of 1.30 per cent, potentially E20.8 million based on the maximum facility. An annual management fee of E380,000, exclusive of VAT, will also be charged, alongside costs capped at E1.2 million for negotiating finance documents.
As of September 29, 2026, Eswatini's total public debt stood at E43.04 billion, representing 41.63 per cent of GDP. This debt comprises E22.82 billion domestic and E20.22 billion external debt. The new loan aims to fund agreed-upon infrastructure and social expenditure.
Why it mattersThe Eswatini government is seeking new loans to fund infrastructure and social development projects, increasing the nation's public debt.