Azerbaijan plans to invest around $100 million in Eswatini

Emin Agalarov, founder and owner of the Sea Breeze project and head of Agalarov Development, has expressed readiness to invest $99 million in Eswatini's economy.

According to Report, citing African media outlets, King Mswati III said that during the visit to Ezulwini, a scenic tourist valley located between the cities of Mbabane and Manzini, Agalarov committed to investing 1.65 billion lilangeni in the kingdom.

"This commitment marks another important step in the efforts of the small southern African kingdom to attract foreign capital through investment conferences and the monarch's international state visits," the publication noted.

The announcement was preceded by Mswati's visit to Azerbaijan in May. During the trip, Agalarov personally hosted a tour of the Sea Breeze complex for the king and his delegation, which included cabinet ministers.

After returning home, Mswati told journalists at the Lozitha Royal Residence that Azerbaijan had expressed interest in providing economic support to Eswatini, while Azerbaijani companies intended to conduct feasibility studies in several sectors, including energy and oil.

In addition, the two sides signed a memorandum of understanding on cooperation in mineral exploration and extraction.