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Foreign works accounted for E6.13 billion of Eswatini’s E11.24 billion in registered construction project value in financial year 2025/26, a 54.5% share rounded to 55%. The figure describes the value of registered projects—not the share of every construction contract, the number of projects won by foreign firms, or money ultimately retained outside the country.
What the 55% figure measures
The Construction Industry Council (CIC) figures, reported by the Times of Eswatini, put foreign works at E6.13 billion out of E11.24 billion in total registered project value for 2025/26. One report gives the share as 54.5%; 55% is the rounded headline figure.
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That is a value share, not a count of firms or projects. The available figures do not show how many projects foreign and local contractors registered, how many firms were involved, or how much of the project value ultimately remained in Eswatini.
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| Financial year | Total registered project value | Foreign works value | Foreign share |
|---|---|---|---|
| 2024/25 | E2.83 billion | E16.92 million | 0.6% |
| 2025/26 | E11.24 billion | E6.13 billion | 54.5% (rounded to 55%) |
The 2025/26 totals and share are CIC figures as reported by the Times of Eswatini; the 2024/25 foreign-works value and share are in the CIC’s 2024/25 annual report. The CIC’s explanation, as reported by the newspaper, is that a few large, capital-intensive projects drove much of the jump. The rise in registered value therefore does not by itself establish a similar increase in project numbers or broad-based growth among construction firms.
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Large schemes can also distort year-to-year comparisons. The CIC’s 2024/25 report notes that the E2.6 billion Mpakeni Dam significantly skewed the 2023/24 total. Read the figures as annual registered values shaped by the projects recorded in each year, rather than as a smooth measure of industry-wide activity.
Where the projects are concentrated
Government and parastatal projects together made up 80.2% of registered project value in 2025/26, according to the CIC figures reported by the Times of Eswatini. Private commercial projects increased in absolute value, but their share declined as public and parastatal investment grew faster.
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The reports say foreign contractors are particularly present in high-value and technically complex projects, where local firms lack capacity. They do not provide a project-count breakdown or a firm-by-firm comparison, so the value figures should not be used to infer how many local businesses competed or participated.
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The CIC’s concern, as reported, is that limited local participation in high-value work could constrain skills transfer, development of the domestic construction industry, and the value retained in Eswatini. The 54.5% figure does not measure those effects or prove that foreign participation caused them. The CIC wording reproduced by the newspaper was: “Local firms are unable to fully participate in high-value segments.”
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The distinction matters: project value records the scale of work registered, while local retention and skills transfer depend on how projects are delivered, including whether local firms and workers participate. The figures cited in the reports do not quantify those outcomes.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.Cabinet’s stated response
On 3 July 2026, Prime Minister Russell Dlamini said Cabinet had resolved to prioritise emaSwati contractors in major government construction projects. The Times of Eswatini report carried the statement at the launch of Phase I of the Eswatini Road Infrastructure Improvement Programme, where foreign firms and local company AG Thomas were identified among the road contractors.
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“We want these works to be done by emaSwati contractors so that the money stays in Eswatini and continues circulating within our economy.”
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This was a reported policy announcement, not evidence that the approach has been implemented across tenders or that public contracts are now reserved for local firms. The CIC’s registration guidance says foreign-contractor tender thresholds vary by class, with examples including above E120 million for general building and above E200 million for general civil works, or a specialised-skill condition; consult the CIC registration page for current details.
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