Article

New Swaziland law to restrict foreign businesses

Swaziland has announced a raft of restrictions on foreigners doing business in the country.

According to the Times of Swaziland newspaper, 31 kinds of businesses will now strictly be for Swazi citizens following the adoption of the regulations by the legislators.

“It was up to all the MPs to protect Swazis in ensuring that the trades are strictly reserved for them,” MP Saladin Magagula was quoted as saying, welcoming the new law.

New entrants

The law follows the adoption of the Reservation of Certain Trades and Businesses for Swazi Citizens Regulations 2017 by the House of Assembly.

“Foreigners who already hold licences in these businesses will not be affected, but only new entrants,” the paper explained.

It further said that non-Swazi citizens would not be allowed to operate businesses such as takeaway food outlets and grocery shops as from January 1, 2018.

Absolute monarchies

Foreign nationals, went on the Times of Swaziland, are also banned from engaging in private investigation, dealing in livestock, debt collection, street vending and funeral parlour management.

The economy of Swaziland is fairly diversified, with agriculture, forestry and mining accounting for about 13 per cent of GDP, manufacturing representing 37 per cent of GDP and services – with government services in the lead – constituting 50 per cent of GDP.

The Kingdom of Swaziland is one of the world’s last remaining absolute monarchies.

Its King Mswati III was crowned in 1986 at the age of 18, succeeding his long-serving father King Sobhuza II, who died at the age of 82.

516 views

Leave a reply

Your email address will not be published. Required fields are marked *