King mswati 3 swaziland revenue

King Mswati III of Eswatini, Africa’s last absolute monarch, controls Tibiyo TakaNgwane (which means ‘Wealth of the Nation’), an investment holding company that was established by royal charter by his father, King Sobhuza II, during the country’s independence in 1968.

King Sobhuza II stated the company was being set up to empower the Swazi people, and to assist the government to develop the country.

However, as Tibiyo grew to become a significant player in business, its initial mandate changed significantly.

This change became more visible during the reign of King Mswati. Critics have argued that Tibiyo has turned into a behemoth that only serves the interests of the royal family, and it is no secret that the company funnels cash directly to Mswati’s family.

The Tibiyo Taka Ngwane has reportedly been used for the king’s personal gain, with opposition figures accusing him of using it to bolster his personal income as far back as