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By Nokunceda Magagula | 2025-04-07
Construction of the new Central Bank Eswatini (CBE) complex will be completed in due course as it is backed by the banks’ balance sheet of E18 billion.
According to CBE Governor Dr Phil Mnisi, this significant investment is aimed at ensuring future stability and functionality of the central bank.
Although he did not like to disclose the total amount to be spent on the project, Dr Mnisi emphasised the importance of careful planning and execution, stating they would not be careless and they will ensure that there is still a central bank in the future.
Highlighting a trend among regional counterparts, he noted that it was becoming increasingly common for central banks to invest in new infrastructure.
"Botswana has recently built its own central bank, while Mozambique, Lesotho and South Africa have expanded their central banks.
CBE Chief Operations Officer (COO) Mfan’fikile Dlamini, stated that phase one of the 21 storey building shall comprise of one floor of underground parking with a coverage area of 5 000 m2; the first four floors, including the ground floor, shall have a floor area of 2 500m2 per floor; the last 14 floors shall have a floor area of 1 200 m2 per floor.
Phase two of the project would be the construction of the centre of excellence, training or conferencing centre and wellness facilities which will be adapting to the existing building on the site and will have three floors, including a combination of classrooms.
The total floor area for phase two shall be 23 800m2.
The accommodation part of the hotel would continue to exist but will not be available to the public.
Phase three would be the construction of the sports centre, staff accommodation flats and car park equipped with solar panel canopies, with a total area of 36 500m2.
This phase would also include the construction of a multipurpose hall, with a total area of 24 200m2.
There are some facilities that will be accessible to the public, such as the museum, multipurpose hall and sporting facilities, while others will have more intense security.
The main road opposite Lugogo Sun will be closed to control traffic, and the current gate used as the entrance will be changed to an emergency gate.
The main gate will be moved to Mshanabili Road, which is opposite MTN headquarters.
Dlamini stated that the project also aimed at empowering local companies.
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