Eswatini Air: South Africa’s slowdown could draw factories to Eswatini
By the AFREEQUE newsroom, based on Times of Eswatini
Getaneh Woldemichael, commercial director of Eswatini Air, believes South African manufacturers could relocate to Eswatini, which retains access to the US market through AGOA. He made the point during a presentation on regional economic conditions, the Times of Eswatini reports.
Eswatini could attract South African manufacturing companies as South Africa’s growth slows and the future of its duty-free exports to the United States is uncertain. This is what Getaneh Woldemichael, commercial director of Eswatini Air, said in Manzini.
According to him, the kingdom retains access to the US market under AGOA, the United States' preferential trade arrangement for Africa. Companies based in South Africa could therefore move part of their production there.
He said South Africa’s growth forecast fell from 1.6% in April to 1.2% in August, while the International Monetary Fund expects 1%. He also mentioned a difficult global context, marked by inflation, geopolitical tensions and slowing growth. According to the Atlas of Sustainable Development, sub-Saharan Africa faces very high structural risks. Eswatini remains better placed, he said, with inflation of around 2.9% and encouraging growth prospects.
