Promote:
Invest in Eswatini
A short guide for companies expanding into Eswatini: the economy at a glance, the rules and steps to set up, and who can help, each with its source.
1. Eswatini at a glance
PopulationEstimate
1.26 million
Eswatini's population was 1,256,174 people in 2025.
Source: World Bank WDI, Eswatini population, 2025 (opens in a new tab) · as of 2025
GDP
US$5.16 billion
GDP was US$5.16 billion in current dollars in 2025.
Source: World Bank WDI, Eswatini GDP, 2025 (opens in a new tab) · as of 2025
GDP per person
US$4,108
GDP per person was US$4,108.25 in current dollars in 2025.
Source: World Bank WDI, Eswatini GDP per person, 2025 (opens in a new tab) · as of 2025
Real GDP growth
4.2%
Real GDP growth was 4.2 percent in 2025, by the World Bank's figure.
Source: World Bank WDI, Eswatini real GDP growth, 2025 (opens in a new tab) · as of 2025
Inflation
2.8%
Annual inflation was 2.8 percent in August 2026, the Central Bank of Eswatini's twelve-month headline rate.
Source: Central Bank of Eswatini, Recent Economic Developments, September 2026 (opens in a new tab) · as of August 2026
Foreign direct investment inflows
US$45.4 million
Foreign direct investment inflows were US$45.42 million in 2025, per UNCTAD.
Source: UNCTADstat, FDI inflows, Eswatini (opens in a new tab) · as of 2025
The currency is the lilangeni (plural emalangeni; ISO code SZL).
Source: Central Bank of Eswatini, Currency page (opens in a new tab) · as of October 30, 2026
2. Before you set up
The investment agency, any one-stop route, the sectors reserved for nationals and the zones, as the guide found them.
The investment promotion agency is the Eswatini Investment Promotion Authority, which also leads government export promotion.
Source: SADC Investment Portal, Eswatini country profile (opens in a new tab) · as of October 30, 2026
EIPA provides one-stop services such as permit applications, registration and licensing, says the SADC investment portal.
Source: SADC Investment Portal, Eswatini country profile (opens in a new tab) · as of October 30, 2026
As of 2023, per the WTO review, foreign investment is restricted in some manufacturing, such as weapons, explosives and hazardous waste treatment, and in security printing and minting.
Source: WTO Trade Policy Review, Eswatini annex, 2023 (opens in a new tab) · as of 2023
As of June 2023, per the WTO review, two sites were designated as special economic zones: the Royal Science and Technology Park and the King Mswati III International Airport.
Source: WTO Trade Policy Review, Eswatini annex, 2023 (opens in a new tab) · as of 2023
3. Steps to set up
The main steps, in order, each with the body responsible and its official page.
Setting up in Eswatini
- Register the company at the office of the Registrar of Companies, and lodge foreign company documents within three days.Registrar of CompaniesOfficial page (opens in a new tab)
Source: SADC Investment Portal, Eswatini country profile (opens in a new tab) · as of October 30, 2026
- Apply for a trading license, which every foreign investor needs under a 1975 order on trading licenses.Ministry of Commerce, Industry and TradeOfficial page (opens in a new tab)
Source: WTO Trade Policy Review, Eswatini annex, 2023 (opens in a new tab) · as of 2023
- Register for tax and get a tax identification number from ERS.Eswatini Revenue ServiceFour working daysOfficial page (opens in a new tab)
Source: Eswatini Revenue Service, step-by-step guide for new businesses (opens in a new tab) · as of October 30, 2026
- Ask EIPA about a Developmental Approval Order for the corporate tax concession in manufacturing, mining, tourism and international services.Eswatini Investment Promotion AuthorityOfficial page (opens in a new tab)
Source: SADC Investment Portal, Eswatini country profile (opens in a new tab) · as of October 30, 2026
Show 4 more set-up steps
- Commission an environmental assessment practitioner and get an environmental authorization before the project starts.Eswatini Environment AuthorityFive to fifteen days review per stageOfficial page (opens in a new tab)
Source: Eswatini Environment Authority, environmental assessment page (opens in a new tab) · as of October 30, 2026
- If the business is a bank, insurer, retirement fund or capital markets firm, apply for the right license.Financial Services Regulatory AuthorityOfficial page (opens in a new tab)
Source: FSRA Eswatini, license application page (opens in a new tab) · as of October 30, 2026
- Get residence and work permits before you invest, through EIPA for investors and senior expatriates.Eswatini Investment Promotion AuthorityFive-year permits for senior expatriatesOfficial page (opens in a new tab)
Source: WTO Trade Policy Review, Eswatini annex, 2023 (opens in a new tab) · as of 2023
- Open a business bank account with a licensed bank, and ask the Central Bank of Eswatini about exchange control.Central Bank of EswatiniOfficial page (opens in a new tab)
Source: Central Bank of Eswatini, Financial Regulation page (opens in a new tab) · as of October 30, 2026
4. Organizations that help investors
Start with EIPA and ERS. Each card links to the organization’s own site.
Each card says what it can help with:Get adviceFind financeMeet requirementsResearch markets
Investment and business setup
- Get advice
Investment and trade promotion
EIPA
Eswatini Investment Promotion Authority
Registers exporters, leads government export promotion, and gives investors permit, registration and licensing services.
Visit EIPA (opens in a new tab)Source: SADC Investment Portal, Eswatini country profile (opens in a new tab) · as of October 30, 2026
Customs and tax
- Meet requirements
Tax and customs authority
ERS
Eswatini Revenue Service
Registers taxpayers, handles customs export declarations on ASYCUDA and certifies origin for trade preferences.
Visit ERS (opens in a new tab)Source: Eswatini Revenue Service, free trade and preferential agreements (opens in a new tab) · as of October 30, 2026
- Meet requirements
Customs union secretariat
SACU
Southern African Customs Union
Regional body
Administers the customs union Eswatini belongs to, and publishes tariff enquiry and trade agreement pages.
Visit SACU (opens in a new tab)Source: SACU, home page (opens in a new tab) · as of October 30, 2026
Chambers and industry associations
- Get advice
National business association
Business Eswatini
Represents private-sector members on trade, commerce and industrial relations policy.
Visit Business Eswatini (opens in a new tab)Source: Business Eswatini, about the association (opens in a new tab) · as of October 30, 2026
5. Worth knowing
Reserved sectors
As of 2023, per the WTO review, the 1998 Act restricts some manufacturing, and other laws cap foreign shares in construction, insurance, listed broadcasting and large-scale mining.
What to do: Check the sector law before you fix your ownership structure.
Source: WTO Trade Policy Review, Eswatini annex, 2023 (opens in a new tab) · as of 2023
Land and foreign ownership
As of 2023, per the WTO review, the Constitution prohibits foreign ownership of land, but the Land Board may approve a land title for a foreign investor.
What to do: Ask EIPA and the Land Board what tenure your site can have before you commit.
Source: WTO Trade Policy Review, Eswatini annex, 2023 (opens in a new tab) · as of 2023
Electricity
As of 2023, per the WTO review, Eswatini imports 60 percent of its electricity from South Africa, and the Eswatini Electricity Company holds a de facto supply monopoly.
What to do: Ask the electricity company about supply and prices before you size a plant.
Source: WTO Trade Policy Review, Eswatini annex, 2023 (opens in a new tab) · as of 2023
Public debt and arrears
The Central Bank of Eswatini put preliminary total public debt at 41.8 percent of GDP at the end of September 2026.
What to do: Check payment terms and timing with any public buyer before you accept a contract.
Source: Central Bank of Eswatini, Recent Economic Developments, September 2026 (opens in a new tab) · as of October 30, 2026
Show 1 more
Special economic zones
As of 2023, per the WTO review, the 2018 Act requires zone operators to meet minimum local employment and capital investment and follow the localization policy.
What to do: Read the Act's schedule of obligations before you apply for a zone.
Sources: WTO Trade Policy Review, Eswatini annex, 2023 (opens in a new tab); UNEP LEAP, Special Economic Zones Act 2018 abstract from FAOLEX (opens in a new tab) · as of 2023
6. How Promote:Global helps
- Compare Eswatini with other countriesSet Eswatini beside other countries on investment momentum, fundamentals and trade access, before site, tax and legal work.
- Find advisors and service firmsAsk an advisory firm a scoped, paid question, or browse firms that list their own services, from legal work to logistics.
- Organize your next stepsKeep each product and market in a project, with a roadmap of steps you work through.
Turn this guide into your Eswatini project.
Use Promote:Global to explore markets, understand requirements and organize your next steps.
Free to start. No card required.
Already have an account? Sign in
Promote:Eswatini is an independent guide by Promote:Global, not an official government portal. The organizations named here are independent public and membership bodies, not Promote:Global partners, and every link goes to their own site.
Facts read from public sources, with an editorial cut-off of October 31, 2026. Nothing here is investment, legal, tax or sanctions advice. Check current status with the organization before you rely on it.