The new Chairperson of the EIPA board, Ubombo Sugar Limited MD Muzi Siyaya.
BY PHESHEYA KUNENE – EDITOR
MBABANE – What does Eswatini need to attract billion-emalangeni investors in an increasingly competitive African market?
The government appears to believe the answer lies in experienced corporate leadership, stronger industrial policy alignment and a sharper investment promotion strategy.
This follows the appointment of Muzi Siyaya, the Managing Director of Ubombo Sugar Limited, as the new Chairperson of the Eswatini Investment Promotion Authority (EIPA) Board by the Ministry of Commerce, Industry and Trade.
The appointment signals a strategic shift towards placing seasoned private sector executives at the centre of Eswatini’s industrialisation and investment drive, particularly at a time when the country is pushing to secure large-scale regional and international investors.
Announcing the new board in Mbabane, Minister of Commerce, Industry and Trade Manqoba Khumalo said the board had been tasked with accelerating economic growth, attracting strategic investors and supporting Government’s industrialisation agenda in line with the national vision.
Government further indicated that the board would help drive the establishment of industrial parks and attract at least 10 major investors with projects valued at more than E1 billion each.
The newly appointed board comprises representatives from both the private and public sectors, including Mbali Sibanyoni, Albert Chibi, Sifiso Khumalo, Henry Mndawe, Kingdom Mamba and Fundile Mndzebele-Dladla.
Speaking during the official unveiling, Siyaya accepted the appointment and pledged to improve efficiency, professionalism and service delivery within the Authority.
“We are deeply honoured by the confidence entrusted in me and the newly appointed board of the Eswatini Investment Promotion Authority,” said Siyaya.
“We embrace this responsibility with humility and an unwavering commitment to advancing Government’s agenda for economic growth, investment mobilisation and job creation.”
He said the board would work closely with EIPA management, the Ministry, the private sector and other stakeholders to strengthen Eswatini’s competitiveness as an investment destination.
Siyaya further highlighted EIPA’s strategic role in improving the ease of doing business, facilitating investment and supporting the emergence of large-scale local enterprises capable of generating annual turnovers exceeding E1 billion.
Analysts view Siyaya’s appointment as significant, given his growing influence within Eswatini’s agro-industrial and corporate sectors.
Since taking over leadership at Ubombo Sugar Limited around 2022, Siyaya has overseen one of the country’s largest agro-industrial operations during a period marked by rising production costs, climate pressure and changing global trade dynamics.
Under his leadership, Ubombo Sugar accelerated major expansion projects, including a large-scale cogeneration initiative expected to increase electricity exports from 17 megawatts to 40 megawatts through an investment estimated at over E1.5 billion.
The company has also intensified diversification efforts into renewable energy and ethanol production as the regional sugar industry moves beyond traditional sugar exports towards broader agro-industrialisation.
During the recent 2026 Standard Bank Regional Sugar Summit held at Simunye Country Club, Siyaya revealed that Ubombo Sugar had injected between E2 billion and E3 billion into the local economy during the past financial year through procurement, logistics, infrastructure projects and supplier development initiatives.
He has also consistently advocated for local enterprise participation, arguing that more contracts, infrastructure work and procurement opportunities should remain within Eswatini to stimulate domestic industrial growth and empower local entrepreneurs.
Before joining Ubombo Sugar, Siyaya served as Vice President for Trade and Commerce at Business Eswatini, where he played a role in shaping discussions around trade competitiveness, industrial policy and private sector growth.
His growing influence within national economic institutions has also been reflected through his appointment to the EWADE Board earlier this year, further strengthening his footprint in agriculture and infrastructure development.
Educated at King’s College London, Siyaya is regarded as part of a new generation of business leaders increasingly tasked with navigating Eswatini’s transition from a commodity-dependent economy towards a more diversified industrial base.
Established in 1998 under the Ministry of Commerce, Industry and Trade, EIPA serves as Eswatini’s principal investment promotion agency, mandated to attract foreign direct investment, facilitate local enterprise development, promote exports and improve the country’s business environment.
The Authority also plays a central role in company registration support, investor facilitation, trade promotion and linking local enterprises with international investment opportunities.
Economists argue that the effectiveness of the new board will ultimately be measured not by announcements, but by whether Eswatini can materially improve investor confidence, reduce bureaucratic friction and unlock sustainable industrial growth in a region facing intensifying economic competition.
