This week, the Central Bank of Eswatini, through the Fintech and IT divisions participated in the Indaba X, a two-day event organized by the Eswatini Fintech Working Group (EFWG). The event, held at Eswatini Revenue Services (ERS) auditorium focused on the transformative potential of Explainable Artificial Intelligence (AI) in decision-making. Making her presentation, CBE's Lead Specialist - BI & Data analytics, Ziyanda Radebe, presented on the strategic benefits of integrating AI into Business Intelligence (BI) processes. She emphasized the enhanced efficiency, improved decision-making, and competitive advantage that AI-driven BI can offer organizations. She further provided practical guidance on implementing AI in BI systems. In his opening remarks, the Commissioner General of the Eswatini Revenue Service (ERS), Mr. Brightwell Nkambule highlighted the importance of collaboration in addressing complex challenges. He encouraged participants to explore opportunities for cross-sector partnerships and develop innovative AI solutions. The Indaba X also included the Hackathon and Poster presentation, where previous winners took the stage to introduce this year’s competition. Forming part of the judging panel for this year’s competition is Deputy Head IT - Governance and Innovations, Nothando Nxumalo. #MyCBE #IndabaX #ExplainableAIforDecisionMaking
About us
We foster price and financial stability that is conducive to the economic development of Eswatini.
- Website
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https://www.centralbank.org.sz
External link for Central Bank of Eswatini
- Industry
- Banking
- Company size
- 201-500 employees
- Headquarters
- Mbabane
- Type
- Government Agency
- Founded
- 1974
Locations
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Primary
Mahlokohla
Mbabane, SZ
Employees at Central Bank of Eswatini
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Philile Ndlangamandla-Bell
IT Governance and Enterprise Architecture Specialist, Central Bank of Eswatini
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Vusi Mabilisa
Senior Economist at Central Bank of Swaziland
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Linda Dlamini-Khumalo
Deputy Director Operations Fintech & Innovation at Central Bank of Eswatini
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Phil Mnisi
Governor - Central Bank of Eswatini
Updates
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| MEDIA RELEASE - ESWATINI PAYMENT SWITCH | #MyCBE #EswatiniPaymentSwitch
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Finding solutions to the high unemployment and poverty rates is a challenge that Governor Dr. Phil Mnisi and Nedbank Group Chairperson, Mr. Daniel Mminele have agreed to work on. This morning, the Governor welcomed Mr. Mminele to the CBE and implored him to drive the Group’s attention toward finding solutions engulfing both Eswatini and South Africa. He sent accolades to the Group for its interest in buying into the E4 billion bond programme recently listed on the Johannesburg Stock Exchange (JSE). Also, the imminent launch of the Eswatini Payment Switch was welcomed by both leaders who affirmed their commitment to ensure its smooth implementation. The Governor also shared the CBE’s Green Initiative, and invited Nedbank to continue with its tag of being known as the ‘Green Bank’. Reciprocating the Governor’s warm welcome, Mr. Mminele affirmed the Group's commitment to working in the Eswatini financial sector through the implementation of strategies that align with the kingdom’s growth path. “I am here to reconnect and reaffirm our pledge to play our part in the local banking system. You can be assured of our full support for the Eswatini economy. We face similar challenges with high unemployment and poverty, and as a Group, we have been playing a leadership role in mitigating youth unemployment through our participation in initiatives like the Youth Employment Services, which creates quality work experiences for young people." #MyCBE #NedbankGroupChairVisit
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On Wednesday evening, the Governor of the Central Bank, Dr. Phil Mnisi gave a public lecture that pointed out the barriers to accessing finance for innovative and entrepreneurial projects and how these can be overcome. Under the theme “The Impact of Financial Frictions on Innovation and Entrepreneurship in Developing Countries”, the Governor noted the importance of adequate financing for economic development, though prevalent financial frictions impede this reality. He cited limited access to capital, higher costs of financing, weak financial institutions and legal frameworks, and market limitations as some of the barriers to engaging in innovation and entrepreneurship activity. Despite this, Dr. Mnisi highlighted strategies that could be employed to overcome or minimize these financial frictions, which include improving data availability, financial inclusion, technological advancement and Fintech, as well as government and institutional support. The public lecture was hosted by the University of Eswatini (UNESWA) under the auspices of the Growth Lab for Africa. About 100 participants took part in the lecture and engaged in meaningful discussions with the Governor. #MyCBE #UNESWAPublicLecture
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| GOVERNOR PRESENTS 2023/24 ANNUAL INTEGRATED REPORT | In fulfilment of its commitment to public accountability, transparency, and responsibility, the Bank’s 7th Governor, Dr. Phil Mnisi, virtually presented the 7th Annual Integrated Report for the year ended 31st March 2024 this morning in a Microsoft Teams meeting joined by over 240 stakeholders. This year’s Report coincides with the Bank’s 50th Anniversary celebrated under the theme “Celebrating 50 Years of Price and Financial Stability.” The Report structure is designed to reflect the CBE‘s core functions and legal obligations. It also incorporates the Bank‘s governance framework, as well as the essential capabilities that empower it to make a lasting contribution to the nation‘s economic and social well-being. In this respect, therefore, the Report is not only informative but it also reflects the foundation that enables the CBE to effectively serve the public. To download the report, visit https://lnkd.in/dZ-jKrE8 #MyCBE #AnnualIntegratedReport
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The Governor of the Central Bank of Eswatini, Dr. Phil Mnisi, will be joined by esteemed professionals from various sectors in the upcoming public lecture hosted by the University of Eswatini (UNESWA), Kwaluseni Campus. Dr. Mnisi will be the keynote speaker, and his presentation will address the "Impact of Financial Frictions on Innovation and Entrepreneurship in Developing Economies". The lecture is scheduled for Wednesday evening, at 1700 hours, at the IDE Lecture Theatre. It is expected that high-level participants from academia, private and public sectors, as well as civil society, will support the Governor, through sharing insights into understanding some complex economic issues. The Governor will delve into why firm-level productivity growth is stunted in the African continent, yet productivity is the ‘speed limit’ in economic growth. He will also share his thoughts on how Africa can relax financial frictions associated with diminished producer performance. The lecture is expected to spark meaningful engagements from the over 100 participants expected to join in. Zoom link https://lnkd.in/dmzV7Mbt #MyCBE #UNESWAGrowthLabForAfrica #PublicLecture
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The CBE’s Centre of Excellence and Innovation hosted a two-day masterclass for our interns last week, facilitated by the Crystal Knowledge Consultancy. The training was aimed at equipping interns with essential skills for building personal brands and skills on business writing. Interactive sessions emphasized the importance of effective communication, including proper grammar, tone, and audience awareness. To solidify their learning, interns were divided into groups and presented their newfound knowledge to their peers. This hands-on experience provided valuable practice and reinforced key concepts. By investing in these skills, the Bank is supporting our interns as they return to university for their final year. These essential tools will not only benefit them academically but also prepare them for future success, producing very mindful and demure young professionals. #MyCBE #CBECentreOfExcellenceAndInnovation #TheAgileTeam
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Monday Reflection with the Governor, Dr. Phil Mnisi. #MyCBE #MondayReflection
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The Governor, Dr. Phil Mnisi, this morning pledged the Central Bank of Eswatini’s (CBE) support in mitigating climate change challenges. Speaking during the Green Indaba 2024 under the topic “Promoting Climate and Sustainable Financing Mechanisms Across the Financial Sector in Eswatini”, he noted that Eswatini was witnessing the effects of global warming firsthand. These effects have profound implications for the economy. The Governor said such called for the adoption of innovative financing instruments that supply capital and promote collaboration among a diverse array of stakeholders. He challenged the participants to explore new funding sources developed to complement existing tools. These may include green bonds, sustainability bonds, and sustainability-linked loans, with the financial sector being the main driver of galvanizing financing for green and related projects. He cited the Bank’s partnership with the United Nations Development Programme (UNDP) on the Central Bank of Eswatini Greening Project (CBEGP), as a testament to the Bank’s broader commitment to global climate action and the transition to a sustainable economy. #MyCBE #GreenIndaba2024 #GreenEconomy
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| RECENT ECONOMIC DEVELOPMENTS | JUNE / JULY 2024 Visit https://lnkd.in/dPfYW-DY to download the full report. #MyCBE #RecentEconomicDevelopments
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