MBABANE: Members of Parliament(MPs) have passed the R540million African Development Bank (Support for Economic Recovery and Inclusive Growth Phase I) loan Bill No.3 of 2022.
The loan Bill was tabled by Finance Minister Neal Rijikernberg on Monday, it is expected to be controlled by King Mswati through his Cabinet.
The Government of Eswatini is known as “His Majesty’s Government as it is fully controlled by Mswati as an absolute Monarch.
Mswati is a major player in the economy of eSwatini and through his giant companies, he is expected to benefit directly and indirectly from the loan.
Reached for comments, Busie Mayisela, the Chairperson of the Swaziland Liberation Movement(SWALIMO) said Mswati’s government was on a mission to borrow more so that the coming democratic Government’s could be in huge debts.
“I thought Parliament would defend us in this but seemingly, they are on Mswati’s side. How can you buy two more jets and then borrow money? This shows that these loans are strategic, they want to channel the money to themselves”, said the SWALIMO Chairperson.
King Mswati