Phil Mnisi: Opening remarks - CMA Governors Meeting
Opening remarks by Mr Phil Mnisi, Governor of the Central Bank of Eswatini, at the CMA Governors Meeting, Ezulwini, 3 July 2026.
Mr Phil Mnisi, Governor of the Central Bank of Eswatini, addressed the CMA Governors Meeting in Ezulwini on July 3rd, 2026. He welcomed delegates from across the Common Monetary Area, expressing gratitude for their dedication to regional collaboration. Mnisi highlighted the importance of these ties in maintaining monetary stability and advancing national economic interests.
He congratulated Namibia on successfully leaving the FATF grey list, stating this accomplishment boosts regional credibility and facilitates smoother financial transactions. The Governor noted the world currently faces economic uncertainty, with geopolitical tensions in the Middle East and recent attacks on shipping adding risks. While crude oil prices have remained low, these developments still impact economies through higher energy costs and inflation pressures.
The Governor emphasized the need to maintain strong macroeconomic fundamentals and highlighted the CMA as crucial for addressing external shocks. He also discussed the evolving financial sector, noting how digitalization has transformed services and increased financial crime. Mnisi stressed the importance of collaboration among various entities to protect financial systems.
The meeting's agenda includes an update on the Balance of Payments Harmonisation Project. Mnisi concluded by encouraging delegates to enjoy Eswatini's culture and hospitality during their visit, wishing for fruitful deliberations.
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