Eswatini Orders Illegal Foreign Businesses to Exit Within 12 Months

MBABANE: The government of Eswatini has announced a new law requiring illegal foreign-owned businesses to vacate the country within the next 12 months. This decision comes in response to the increasing presence of foreign enterprises in the retail sector, particularly in rural areas, which has raised concerns among local entrepreneurs and policymakers.

Officials have stated that the law aims to protect local businesses and promote economic growth within the kingdom. Minister of Commerce, Industry and Trade, Manqoba Khumalo, emphasized that the government is committed to creating a conducive environment for Swazi businesses to thrive. ‘We must prioritize our local entrepreneurs and ensure that they have the opportunity to succeed,’ Khumalo remarked during a press briefing.

This legislation is expected to have significant implications for the local economy, as it seeks to curb the dominance of foreign businesses that have been perceived as undermining local competition. Analysts suggest that while the move may benefit local retailers, it could also deter foreign investment in the long run, potentially impacting job creation and economic diversification.

Looking ahead, the government plans to engage with stakeholders, including local business associations and foreign investors, to discuss the implementation of this law and its potential effects. The Ministry of Commerce is expected to release further guidelines and support measures for local businesses in the coming months.