In 1968, at the moment of Eswatini’s independence, King Sobhuza II created a trust by royal charter and called it Tibiyo TakaNgwane — siSwati for “wealth of the nation.” Its stated purpose was to preserve Swazi culture and promote a high standard of living for the Swazi people through employment and enterprise. Nearly six decades later, Tibiyo is the country’s largest employer outside government itself, holding roughly 30 interests across sugar, coal, beverages, dairy, media, property, financial services, and tourism. It is also, structurally, indistinguishable from a single person’s private holding company: the fund is held by King Mswati III…
Author: Muyiwa Olugbenga
Muyiwa Olugbenga
Olumuyiwa is a Business Administration graduate with a growing interest in African capital markets — particularly how institutional funds, pension funds, and family offices allocate capital across the continent, and what that reveals about where African economies are headed. He enjoys working with primary sources like filings, circulars, and fund reports, and has a habit of digging until he can tell what's real signal versus noise. He writes clearly, not to impress but to be understood. Olumuyiwa is now looking to bring that same curiosity and discipline to TACR's editorial desk, helping gather evidence, build datasets, and turn raw information into reporting people can trust.
In a country of 1.2 million people, two funds hold assets equal to more than half of GDP. The Public Service Pensions Fund (PSPF), which serves roughly 42,000 civil servants, manages assets that, as of March 2026, remained 43% invested domestically against a 30% statutory minimum. The Eswatini National Provident Fund (ENPF), the country’s only mandatory retirement scheme and open to every formal-sector worker, has grown to E7.14 billion ($442.1 million) up 13.2% in the year to June 2025. Together, according to a 2025 World Bank technical assessment, Eswatini’s retirement fund sector alone holds assets worth 52.4% of GDP, a…
What Was Actually Proposed The Africa Private Equity News’ account of the IFC’s project disclosure lays out the numbers plainly: up to $15 million into IMG Fund I, a Morocco-focused growth equity vehicle targeting MAD1.5 billion ($162.0 million) in total commitments. The fund plans a concentrated portfolio of seven to ten companies, with individual tickets running MAD60 million to MAD200 million ($6.5 million to $21.6 million) — mostly minority stakes, with selective majority positions. The sector list is a generalist’s list: healthcare, fast-moving consumer goods, digital infrastructure, financial services, education. One sentence in the disclosure carries the whole story: the…
On 21 August, S&P Dow Jones Indices confirmed it would not do something that would have made Egypt simultaneously less relevant and more prominent: move it out of the emerging-market category and into the frontier-market tier below. Here’s the part that actually matters. At 0.10% of S&P’s Emerging BMI, Egypt barely registers to the large passive funds tracking that index. At the proposed 3.55% weight in the smaller Frontier BMI — the figure S&P’s own consultation document gives, using data as of 15 May 2026 — it would have become one of that benchmark’s biggest names: roughly 35 times more…
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Source: Angel’s Lounge, a Lagos Angel Network interview series, hosted by Solomon King. Guest: Arturas Svirskis, CEO of Fintexus and Hexagon Ventures Group, Kaunas, Lithuania. Interview conducted March 3, 2026. Watch: youtu.be/rCZEIZ26qng, titled “Arturas Svirskis on Fintech, Crypto, and Angel Investing in Africa & Other Emerging Markets.” There’s a particular kind of investor conversation that only makes sense once you strip away the geography. On Angel’s Lounge, the Lagos Angel Network’s interview series on the voices shaping capital across the continent, host Solomon King sat down with an angel investor calling in from Kaunas, Lithuania — a man twelve years…