By Zweli Martin Dlamini

MBABANE: Mandla Luphondvo, the Spokesperson of the Central Bank of Eswatini(CBE) says,Governor Phil Mnisi successfully negotiated the relaxation of Forex with the South African Reserve Bank and as a result, individual transactions below R1million will reflect immediately.

Speaking to this Swaziland News on Wednesday morning when asked what measures have been implemented by the Bank amid public outcry since the introduction of Forex,Luphondvo said, the Governor engaged South Africa to allow transactions below the said amount for individuals to reflect immediately.

“The Governor successfully engaged the South African Reserve Bank to allow transactions below R1million between South Africa and eSwatini to reflect immediately. For companies, transactions below R5million will also reflect immediately”, he said 

But the Central Bank Spokesperson clarified that, the Rand will continue to be treated as a Foreign Currency in eSwatini and emaSwati will have to go via Forex when sending or transacting with South Africa and other countries within the Common Monetary Area(CMA) being South Africa Lesotho and Namibia.

“The difference now is that, the money won’t delay and it will reflect immediately if it’s below R1million for individuals and R5million for companies. We are engaging local banks to verify if they are implementing the new relaxation directive”, said the Central Bank Spokesperson.

This Swaziland News has been vigorously reporting about the issue of Forex amid public outcry and/or complaints suggesting that,money was delaying to reflect in bank accounts when sent via Forex.