Eswatini Country Commercial Guide
Learn about the market conditions, opportunities, regulations, and business conditions in eswatini, prepared by at U.S. Embassies worldwide by Commerce Department, State Department and other U.S. agencies’ professionals
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Trade Financing
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Methods of Payment

Eswatini importers utilize the standard payment methods available in international commerce. The most common are:

  • Cash in Advance
  • Letters of Credit (LC),
  • Bank Collections and Bills of Exchange
  • Open Account
  • Sales on Consignment
  • International Money Transfers
     

American exporters should offer quotations based on the free-on-board value at the port of export.  Such quotations should also include a statement of the actual charges for freight and insurance, plus any additional charges, to the port of delivery. Quotations are usually in terms of the currency of the country of origin. The terms of payment for imported goods vary according to the type of buyer and the buyer’s access to capital.

Transunion ITC is the largest credit rating agency in the country. In 2018, the central bank introduced Moody’s investor national rating services. The Central Bank of Eswatini regulates the national payment system.

For more information about the methods of payment or other trade finance options, please read the Trade Finance Guide. 

Banking Systems

The Central Bank of Eswatini is the monetary authority responsible for managing the country’s foreign exchange reserves, administration of exchange controls, and regulation of financial institutions.

There are four commercial banks operating in Eswatini: First National Bank of Eswatini, NedBank, SwaziBank, and Standard Bank. The government owns Eswatini Development and Savings Bank (SwaziBank). Three of the four commercial banks (excluding Swazi Bank) are subsidiaries of their South African parent banks.

Each of the operating banks has at least eight branches. Normal banking services are offered at all four banks, and interest rates on borrowing are the same as in South Africa. The prime rate is 11.0 percent. Through Eswatini’s membership in the Common Monetary Area, after-tax profits can be repatriated anywhere the investor chooses. The corporate tax rate is 27.5 percent.

Export financing is available through the Export-Import Bank but must be applied for by a Swati partner. There are no Export-Import Bank bundling facilities in Eswatini. Project financing is available through such multilateral institutions as the World Bank and African Development Bank. In the past, resources have gone largely to infrastructure development, including roads and irrigation systems.

Foreign Exchange Controls

Exchange controls are currently administered by the Central Bank Exchange Control Department. All international commercial transactions must be through authorized foreign exchange dealers.

U.S. Banks and Local Correspondent Banks

Banks with correspondent U.S. banking arrangements are:

  • First National Bank of Eswatini Limited
  • Nedbank
  • Standard Bank
     

For additional information, visit the U.S. Department of State Investment Climate Statements.

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Global Business Navigator Chatbot Beta

Welcome to the Global Business Navigator, an artificial intelligence (AI) Chatbot from the International Trade Administration (ITA). This tool, currently in beta version testing, is designed to provide general information on the exporting process and the resources available to assist new and experienced U.S. exporters. The Chatbot, developed using Microsoft’s Azure AI services, is trained on ITA’s export-related content and aims to quickly get users the information they need. The Chatbot is intended to make the benefits of exporting more accessible by understanding non-expert language, idiomatic expressions, and foreign languages.

Limitations

As a beta product, the Chatbot is currently being tested and its responses may occasionally produce inaccurate or incomplete information. The Chatbot is trained to decline out of scope or inappropriate requests. The Chatbot’s knowledge is limited to the public information on the Export Solutions web pages of Trade.gov, which covers a wide range of topics on exporting. While it cannot provide responses specific to a company’s product or a specific foreign market, its reference pages will guide you to other relevant government resources and market research. Always double-check the Chatbot’s responses using the provided references or by visiting the Export Solutions web pages on Trade.gov. Do not use its responses as legal or professional advice. Inaccurate advice from the Chatbot would not be a defense to violating any export rules or regulations.

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The Chatbot does not collect information about users and does not use the contents of users’ chat history to learn new information. All feedback is anonymous. Please do not enter personally identifiable information (PII), sensitive, or proprietary information into the Chatbot. Your conversations will not be connected to other interactions or accounts with ITA. Conversations with the Chatbot may be reviewed to help ITA improve the tool and address harmful, illegal, or otherwise inappropriate questions.

Translation

The Chatbot supports a wide range of languages. Because the Chatbot is trained in English and responses are translated, you should verify the translation. For example, the Chatbot may have difficulty with acronyms, abbreviations, and nuances in a language other than English.

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