Young innovators in Eswatini are applying artificial intelligence to solve real business and agricultural challenges. At IndabaX Eswatini 2026, eight students showcased case studies on practical solutions, including web-based business profiling, cashflow verification for entrepreneurs, and deep-learning applications for diagnosing cattle skin disease. These presentations highlighted the potential for AI to address practical challenges facing businesses and other sectors of the economy. The event aims to introduce tertiary students and young innovators to machine learning and its applications in Eswatini.
The Central Bank of Eswatini (CBE) has expressed enthusiasm for the students' work, describing it as "inspiring." The CBE's latest update noted that the projects demonstrate the potential for AI to extend beyond conventional technology demonstrations. The students' work includes ensemble machine learning for resilient decision-making, which could have far-reaching applications. For instance, cashflow verification could help assess businesses seeking finance, while business profiling could provide better information for financial institutions and entrepreneurs.
Governor of the CBE, Dr. Phil Mnisi, urged participants to focus on turning their knowledge into usable solutions. He emphasized the importance of applying machine learning in various sectors, including credit, financial inclusion, tax administration, and communications regulation. The CBE has reintroduced the Eswatini FinTech Working Group as FinTech Forum Eswatini, broadening its role to engage industry, innovators, researchers, students, and the wider public.
The CBE has been developing its fintech capabilities since establishing a dedicated FinTech Unit in 2018. The unit researches emerging technologies, including artificial intelligence, and operates a regulatory sandbox where innovative financial products, services, and business models can be tested under regulatory supervision. The National FinTech Strategy 2025–2030 identifies coordinated action, digital infrastructure, regulatory innovation, and private-sector engagement as crucial to developing Eswatini's fintech ecosystem.
Eswatini is moving to unlock institutional data for researchers and innovators as technology reshapes financial services and economic decision-making. At IndabaX Eswatini 2026, CBE Governor Dr. Phil Mnisi said institutions were beginning to dismantle barriers that had limited access to data, creating opportunities for locally developed solutions. The shift is already being demonstrated through IndabaX, where the CBE made its dataset available to participants to forecast headline inflation.
The emphasis on data is also being accompanied by institutional changes in Eswatini's fintech ecosystem. The focus on evidence-based decisions extends beyond IndabaX, with the launch of the FinScope Eswatini 2026 Consumer Survey. CBE Deputy Governor Felicia Dlamini-Kunene emphasized that "data only creates value when it is used to inform better decisions." This approach is expected to drive innovation and improve the quality of decisions in various sectors.
The immediate challenge for Eswatini's young innovators is moving promising student projects from presentations and prototypes into products that businesses and institutions can actually use. However, the emerging ecosystem could create opportunities to test locally developed technology against local problems. With the right approach, Eswatini's fintech sector could experience significant growth and development, driven by innovative solutions and a supportive regulatory environment.
Key points
- Young innovators in Eswatini are applying AI to solve local business and agricultural challenges.
- The Central Bank of Eswatini is supporting fintech development through its FinTech Unit and regulatory sandbox.
- Eswatini is unlocking institutional data to drive fintech innovation and evidence-based decision-making.
