The Central Bank of Eswatini (

Swazi Swazi may refer to: * Swazi people, a people of southeastern Africa * Swazi language * Eswatini Eswatini ( ; ss, eSwatini ), officially the Kingdom of Eswatini and formerly named Swaziland ( ; officially renamed in 2018), is a landlocked coun ...

: ''Umntsholi Wemaswati''), is the

central bank A central bank, reserve bank, or monetary authority is an institution that manages the currency and monetary policy of a country or monetary union, and oversees their commercial banking system. In contrast to a commercial bank, a central ba ...

Eswatini Eswatini ( ; ss, eSwatini ), officially the Kingdom of Eswatini and formerly named Swaziland ( ; officially renamed in 2018), is a landlocked country in Southern Africa. It is bordered by Mozambique to its northeast and South Africa to its no ...

. It was established in April 1974 and is based in capital

Mbabane Mbabane (; ss, ÉMbábáne, ) is a city in Eswatini (previously called Swaziland), and is one of the two capitals (along with Lobamba), serving as the executive capital. With an estimated population of 94,874 (2010), it is located on the Mbaba ...

. According to the bank's website, the bank's mission is to promote monetary stability and foster a stable and sound financial system. Among the bank's responsibilities are managing Eswatini's

foreign exchange The foreign exchange market (Forex, FX, or currency market) is a global decentralized or over-the-counter (OTC) market for the trading of currencies. This market determines foreign exchange rates for every currency. It includes all as ...

position and safeguarding the country's

foreign reserves Foreign exchange reserves (also called forex reserves or FX reserves) are cash and other reserve assets such as gold held by a central bank or other monetary authority that are primarily available to balance payments of the country, influence ...

cash In economics, cash is money in the physical form of currency, such as banknotes and coins. In bookkeeping and financial accounting, cash is current assets comprising currency or currency equivalents that can be accessed immediately or near-imm ...

. The bank conducts weekly

auction An auction is usually a process of buying and selling goods or services by offering them up for bids, taking bids, and then selling the item to the highest bidder or buying the item from the lowest bidder. Some exceptions to this definition ex ...

s of 91-day Swazi

treasury bills United States Treasury securities, also called Treasuries or Treasurys, are government debt instruments issued by the United States Department of the Treasury to finance government spending as an alternative to taxation. Since 2012, U.S. gov ...

, through "primary dealer" Swazi banks. The current governor is Dr. Phil Mnisi.

Governors

The governor of the bank is appointed by the

King of Eswatini iNgwenyama (also ''Ingwenyama'') is the title of the male monarch A monarch is a head of stateWebster's II New College DictionarMonarch Houghton Mifflin. Boston. 2001. p. 707. Life tenure, for life or until abdication, and therefore the hea ...

for a term of five years. * Ethan Mayisela, April 1974 - June 1978 * A. D. Ockenden, acting, June 1978 - June 1981 * H. B. B. Oliver, July 1981 - June 1992 * Martin Dlamini, acting, 1992 *

James Nxumalo James Sikhosiphi Nxumalo (born 12 February 1965) is a South African politician who has represented the African National Congress (ANC) in the KwaZulu-Natal Provincial Legislature since 2019. He was formerly the Mayor of eThekwini from 2011 to ...

, July 1992 - June 1997 * Martin Dlamini, July 1997 - 2013 * Majozi Sithole, 2013 - 2022 * Dr. Phil Mnisi, 2022 - present

List of authorized banks of Eswatini

* Eswatini Bank * Standard Bank Eswatini * First National Bank Swaziland *

Nedbank Nedbank Group is a financial services group in South Africa offering wholesale and retail banking services as well as insurance, asset management, and wealth management. Nedbank Limited is a wholly owned subsidiary of Nedbank Group. Nedbank' ...

Swaziland *

Swaziland Building Society Eswatini ( ; ss, eSwatini ), officially the Kingdom of Eswatini and formerly named Swaziland ( ; officially renamed in 2018), is a landlocked country in Southern Africa. It is bordered by Mozambique to its northeast and South Africa to its no ...

References

External links

Mbabane Banks of Eswatini Banks established in 1974 1974 establishments in Swaziland {{Africa-bank-stub

Governors

List of authorized banks of Eswatini

See also

References

External links