The Central Bank of Eswatini issued a media statement responding to press commentary on foreign shareholding in public procurement, stating that legally registered entities in Eswatini are entitled to participate in open and competitive bids regardless of ownership structure, provided they meet statutory and regulatory requirements. It said excluding companies because of foreign participation, absent a lawful directive, would conflict with the Public Procurement Act, the Constitution, Eswatini's investment framework and applicable Southern African Development Community commitments. In the same statement, the bank defended its own procurement process for a specific project, saying the tender was run fairly and transparently and included safeguards for objections before contract award. The request for proposals was open to local and foreign firms but required a minimum 30% shareholding by local construction firms, and bids that did not meet that threshold were disqualified. The bank said it rejected requests from local contractors to cut the threshold to 10%, awarded a fixed time, price and quality Engineering, Procurement and Construction contract worth E2.79 billion rather than the E2.9 billion reported in the media, and structured payments in emalangeni to local commercial bank accounts. It also noted that the top three locally registered contractors in the Construction Industry Council registry bid with foreign partners, and said all bids were assessed on merit, including price, before the best evaluated bidder was selected. The bank added that parties had an opportunity to seek review or appeal of the tender process and award, and said the project is progressing in line with agreed schedules with the contractor.
Central Bank of Eswatini2026-06-25
Central Bank of Eswatini defends E2.79 billion tender and says foreign-shareholding firms cannot be excluded from procurement
The Central Bank of Eswatini said firms with foreign shareholding cannot be excluded from public procurement if they are legally registered and meet applicable requirements. Defending its own tender, it said the E2.79 billion project was open to local and foreign firms but required at least 30% local construction firm participation, and non-compliant bids were disqualified. The bank said objection and appeal channels were available and the project remains on schedule.