Eswatini debates grouping its economic regulators
By the AFREEQUE newsroom, based on Times of Eswatini
Illustrative image · Khaya Motsa · Pexels · Licence PexelsEswatini has numerous authorities regulating banking, telecommunications, agriculture, energy and other sectors, despite the limited size of its economy. Economist Sanele Sibiya believes overlapping responsibilities increase costs and proposes mergers or specialised departments, the Times of Eswatini reports.
Eswatini economist Sanele Sibiya proposes grouping some of the country’s economic regulatory authorities to reduce overlapping responsibilities and public spending, the Times of Eswatini reports.
He believes several institutions could merge or incorporate specialised departments. Sanele Sibiya cites digital financial services, or fintech, where similar activities sometimes fall under different regulators, complicating consumer procedures and the resolution of their complaints.
According to the economist, the proliferation of authorities uses staff, administrative structures and operational resources even though their responsibilities overlap. He also warns that excessive regulation could hold back innovation in emerging sectors such as artificial intelligence.
