Africa’s Eswatini Kingdom Plans $275 Million Wealth Fund

The southern African Kingdom of Eswatini plans to start a sovereign wealth fund of around 5 billion emalangeni ($275 million) this year to help channel money into areas including manufacturing and agriculture, its finance minister said.

Legislation for the fund, drawn up with the Commonwealth’s help, is in draft form and likely to be finalized in the next three months, Neal Rijkenberg said. “It is something that we are really focusing on and driving very hard to get. So we need it to be perfect,” he said in an interview.