MINISTERS ENGAGE IN MARATHON MEETINGS WITH UAE COMPANIES

ABU DHABI — Acting on the instructions of His Majesty the King and the UAE Crown Prince Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, a high‑level Eswatini ministerial delegation held marathon meetings with a range of UAE companies in Abu Dhabi to pitch projects and seek investment. The delegation, led by Commerce, Industry and Trade Minister Manqoba Khumalo, included Foreign Affairs and International Cooperation Minister Pholile Shakantu; Home Affairs Minister Princess Lindiwe; Ministry of Defence Principal Secretary Prince Sicalo; Ambassador to the UAE Sifiso Dlamini; King’s Office Chief Officer Mbongeni Simelane; and King’s Office Head of Legal Affairs Ntsika Fakudze. Khumalo presented projects valued at over E42 billion (excluding mining) and outlined opportunities in agriprocessing/manufacturing, tourism, agriculture, energy, ICT and education.

"The minister stated that the Kingdom is strategically located as a convenient investment hub in Southern Africa and can be used as a launching pad for any serious investors and boasts of access to global markets," Minister Khumalo told company executives during the engagements in Abu Dhabi.

Meetings and proposals

The Eswatini team held talks with major UAE investors and operators, including Mubadala, the Abu Dhabi Investment Authority (ADIA) and a collective of UAE energy companies led by senior executives from the Abu Dhabi National Oil Company (ADNOC). Specific opportunities and follow‑ups emerging from the meetings include:

• Projects presented by Minister Khumalo worth over E42 billion, focused on agriprocessing, tourism, agriculture, energy, ICT and education.
• An energy sector push: Eswatini is exploring partners in the fuel and oil sector after investing more than E5 billion in a strategic oil reserve at Phuzamoya in the Lubombo region, a facility expected to be ready by 2028.
• Interest from Turkmenistan’s Ayolyn Gijeler to invest over E220 million in ICT, transport and immigration‑related products; company executives who visited Eswatini last month are scheduled to return in early June for further engagements.
• Engagements with Mubadala, the Abu Dhabi sovereign investor, noted in the delegation brief: Mubadala—originally established in 2002 and restructured in 2017—maintains international offices in New York, London, Moscow and Beijing and reported assets of about USD 385 billion (approximately E6.5 trillion) by last fall.
• Talks with ADIA, one of the world's largest sovereign wealth funds, where the delegation met the fund's infrastructure leadership including Deputy Director of the Infrastructure Department Sultan Ali Al Dhaheri. ADIA shared its long‑term allocation framework and its use of data and advanced analytics, including a dedicated Quantitative Research & Development team and the "ADIA Lab" applying AI and machine learning.

Eswatini is also exploring the creation of its own sovereign wealth fund: a draft legislation has been submitted to cabinet after study visits to Ghana, Ethiopia and Rwanda and will be taken to Parliament as the next stage. The meetings in Abu Dhabi were presented as part of a government strategy described in the delegation brief as "private sector led and government enabled."

Outlook: Delegation officials signalled follow‑up visits and negotiations. Ayolyn Gijeler’s return in early June and continued engagement with ADIA, Mubadala and UAE energy firms point to a pipeline of prospective deals tied to the E42 billion pipeline and the E5 billion strategic reserve. With a cabinet submission already made on a national sovereign wealth vehicle, officials expect further commercial discussions and potential investment commitments to crystallise in the coming months.