By 
By Kwanele Dhladhla
His Majesty King Mswati III has issued a stern warning to Emaswati to tread with caution as they venture into money trading to avoid losing their hard-earned assets and cash due to the lack of comprehensive knowledge in money markets.
Speaking during the dinner in celebration of his 57th Birthday and 39 years of rule since he ascended the Throne in 1968, which was hosted by Directors of 7th on the Hill Hotel in Qomintaba, the King said it was high time the people of Eswatini and businesses consider investing in the multi-billion-dollar industry of money markets.
He said that as the world evolves, it is important for Eswatini not to be left behind in technological advancements.
“It is important to first know how money markets operate before making any form of investment. Do not just decide to be a money trader just because you have heard that others are making impressive profits from money trading. Otherwise, you will lose all your money by investing in the wrong places.”
“As a money trader, you must make all calculations and determine whether the investment will bring back any returns, because you might invest and lose money that could have been kept as an estate for future generations.
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We need to understand how technological developments operate to our advantage, and learn from advanced economies such as the Tiger economies, which have used technology to greatly bolster their economies,” the King said.
Investopedia defines a tiger economy as a term used to describe several booming economies, particularly in Southeast Asia. The Asian tiger economies typically include Singapore, Hong Kong, South Korea, and Taiwan.
The Asian tigers are high-growth economies that have transitioned from predominantly agrarian societies of the 1960s to industrialised nations. The economic growth in each of the countries is usually export-led, but with sophisticated financial and trading markets.
Singapore and Hong Kong, for example, are home to two of the major financial markets in the world. Sometimes China is mentioned as an Asian tiger, but it has separated itself from the pack to become one of the largest economies in the world.
It was explained that the economic growth in each of the Asian tiger nations was usually export-led, but with sophisticated financial and trading hubs.
Investopedia mentioned that the phrase tiger economy has since been expanded to describe any small, outperforming economy that has undergone rapid development.
His Majesty King Mswati III has called upon Eswatini to ensure that tourism drives the economy through the attraction of over two million tourists by 2027, which will in turn inject up to E2 billion into the country’s Gross Domestic Product (GDP).
The Eswatini GDP in Eswatini currently stands at stands at E15 billion.
The King, who continued who has on various fora fondly enunciated his vision for Eswatini to be developed into a first world country, mentioned that in most of the countries he has visited, especially well-developed States, natural resources and minerals had turned the economies around, followed by tourism.
Therefore, in the absence of vast natural resources such as oil, the Kingdom ought to take advantage of its magnificent scenery and unique culture to drive economic transformation through pushing a strong tourism agenda.
“Tourism must drive economic growth in Eswatini. To achieve this objective, we need to attract over one million tourists per annum and at least two million by 2027, which will pump over E2 billion in revenue for the local economy,” the King emphasised during the dinner, which was also attended by Zulu King Misizulu Ka Zwelithini as guest of honour.
Also present during the dinner, convened at a superbly decorated marquee within the Mbangweni Royal Residence, were Emakhosikati, Princes, sigodlo, Prime Minister (PM) Russell Dlamini, Cabinet Ministers, Emabandla, Members from both Houses of Parliament, the business community, and captains of industry together with general members of the public.
To drive his point home and to further compound the ease of tourism in economic revitalisation, the King said other countries attract up to E60 million tourists yearly. He said in such countries that attract 60 million tourists, if each of the visitors spends at least one Emalangeni per day, it means the economy benefits up to E60 million daily.
However, the King advised that as the country gears up to utilise tourism as a driver of the economy, innovation should be at the forefront with the intent to ensure that the people and groups who visit find it worthwhile coming to Eswatini.
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The King pointed out that improved tourism would greatly assist the country in attracting Foreign Direct Investment (FDI).
“If we have an adequate agricultural supply, utilise our natural resources well, have robust financial institutions, and world-class tourism facilities, we are bound to attract investors that will make a meaningful impact not only on our economy but our quest for the reduction of unemployment levels through provision of quality jobs” he said.
The Minister of Tourism and Environmental Affairs, Jane Mkhonta, said the government remains committed to ensuring that the King’s vision towards the improvement of tourism gets realised.
She said they would continue to work tirelessly to ensure that the target set by the King was met against all odds.
“We are working towards surpassing the target of 1 million visitors in the Kingdom during the current year.
We are confident that it will be realised when considering that we had already reached 982,000 visitors in 2024. Under the wise leadership of His Majesty King Mswati III’s government, we will also reach beyond the set 2 million visitors by 2027,” Mkhonta assured.
