Central Bank of Eswatini

The Central Bank of Eswatini is the country's monetary authority, established on April 1, 1974, and headquartered on Mahlokohla Street in the capital, Mbabane. Its stated mission is to promote monetary stability and a sound financial system, and its work includes managing the country's foreign exchange reserves and issuing the Swazi lilangeni through weekly auctions of ninety one day treasury bills conducted with authorized commercial banks. The governor is appointed by the King of Eswatini for a five year term, a structure that leaves the bank's independence limited in practice by the country's absolute monarchy. Majozi Sithole served as governor from November 2013 until July 2022, when Phil Mnisi succeeded him. The bank is wholly state owned and holds foreign reserves of roughly 470 million US dollars, a relatively small cushion that reflects the size of Eswatini's economy.