Central Bank of Eswatini

Central Bank of Eswatini
Umntsholi Wemaswati
Logo
Logo
Central Bank building in Mbabane
Central Bank building in Mbabane
HeadquartersMahlokohla St., Mbabane
Coordinates26°19′33″S 31°08′51″E / 26.32583°S 31.14750°E / -26.32583; 31.14750
Established1 April 1974 (1974-04-01)
Ownership100% state ownership[1]
GovernorPhil Mnisi
Central bank ofEswatini
CurrencySwazi lilangeni
SZL (ISO 4217)
Reserves470 million USD[1]
Websitewww.centralbank.org.sz

The Central Bank of Eswatini (Swazi: Umntsholi Wemaswati), is the central bank of Eswatini. It was established in April 1974 and is based in capital Mbabane. According to the bank's website, the bank's mission is to promote monetary stability and foster a stable and sound financial system.[2] Among the bank's responsibilities are managing Eswatini's foreign exchange position and safeguarding the country's foreign reserves of cash. The bank conducts weekly auctions of 91-day Swazi treasury bills, through "primary dealer" Swazi banks. The current governor is Dr. Phil Mnisi.

The Central Bank is nominally independent, but is in practice overruled by Eswatini's absolute monarchy.[3]

Governors

The governor of the bank is appointed by the King of Eswatini for a term of five years.[4]

  • Ethan Mayisela, April 1974 - June 1978[5][6]
  • A. D. Ockenden, acting, June 1978 - June 1981[5]
  • H. B. B. Oliver, July 1981 - June 1992[5][7]
  • Martin Dlamini, acting, 1992
  • James Nxumalo, July 1992 - June 1997[5]
  • Martin Dlamini, July 1997 - November 2013[5][8]
  • Majozi Sithole, November 2013 - July 2022[9][10]
  • Dr. Phil Mnisi, 2022 - present[4]

List of authorized banks of Eswatini

See also

References

  1. ^ a b Weidner, Jan (2017). "The Organisation and Structure of Central Banks" (PDF). Katalog der Deutschen Nationalbibliothek.
  2. ^ "Central Bank of Swaziland: Mission". Archived from the original on 2007-03-28. Retrieved 2007-05-03.
  3. ^ "The central bank in a tiny African country tried to block a suspicious banking venture. Then the king's allies intervened. - ICIJ". 2024-04-15.
  4. ^ a b "PHIL MNISI IS NEW CENTRAL BANK GOVERNOR". Africa-Press. 11 June 2022.
  5. ^ a b c d e Cuhaj, George S. (2011). Standard Catalog of World Paper Money. ISBN 978-1-4402-1584-1.
  6. ^ Central Banking Directory. Central Banking Publications. 1993. ISBN 978-0-9517903-1-1.
  7. ^ Central Banking Directory. Central Banking Publications. 1993. ISBN 978-0-9517903-1-1.
  8. ^ "Times Of Swaziland". www.times.co.sz.
  9. ^ "Times Of Swaziland". www.times.co.sz. Retrieved 2020-10-07.
  10. ^ "The 6th Governor of The Central Bank Of Eswatini bows out gracefully". Central Bank of Eswatini. 20 July 2022.

External links

  • Official website
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