The talks also focused on Egypt's experience in currency printing, export guarantee mechanisms, and financial sector development.
Governor of the CBE Hassan Abdalla met with his Eswatini counterpart, Phil Mnisi, at the bank's headquarters in Cairo to explore ways to deepen cooperation and exchange expertise across various banking sectors.
A key area of discussion was Egypt's experience with the Pan-African Payment and Settlement System (PAPSS), with the two sides exploring how Eswatini could benefit from Egypt's experience as it seeks to join the continent-wide platform. PAPSS enables cross-border payments in local currencies, aiming to lower transaction costs, shorten settlement times, and facilitate intra-African trade.
The governors also reviewed progress on an initiative launched by the CBE in partnership with the African Export-Import Bank (Afreximbank) to establish a pan-African bank specializing in gold. The proposed institution aims to strengthen African central banks' gold reserves, reduce the continent's reliance on refining and trading hubs outside Africa, and support the formalization of the region's gold industry and trade.
The meeting also highlighted Egypt's expertise in currency circulation and banknote production through the CBE's Currency Printing House, which serves as a regional hub and prints banknotes for several African countries.
The two sides further discussed Egypt's export support model through export guarantee mechanisms alongside opportunities to cooperate in banking training, institutional capacity building, and human capital development.
Abdalla reaffirmed the CBE's commitment to strengthening partnerships with African central banks, saying the cooperation aligns with Egypt's broader strategy to deepen economic and financial integration across the continent.
As part of the visit, the Eswatini delegation is scheduled to tour the Currency Printing House and the Cash Centre in the New Capital to learn about Egypt's banknote production process, anti-counterfeiting technologies, quality control systems, and cash management operations.
The delegation will also visit the Egyptian Banking Institute (EBI) to review its banking training and professional development programmes.
The visit builds on an expanding partnership between the two central banks, which have cooperated in recent years on implementing Basel standards, promoting financial inclusion, financing micro, small and medium-sized enterprises (MSMEs), and managing climate-related financial risks.
The cooperation also falls within a broader collaboration through the Association of African Central Banks (AACB) and the Common Market for Eastern and Southern Africa (COMESA), underscoring Egypt's growing role in promoting financial integration, knowledge sharing, and capacity building across Africa.
The CBE’s discussions with Eswatini’s central bank come as African policymakers push to expand home-grown financial infrastructure that can support intra-African trade and reduce reliance on external payment and refining hubs. Egypt has already positioned itself as an early mover in PAPSS, which enables cross-border payments in local currencies, while also backing initiatives such as a proposed pan-African gold bank and sharing expertise in banking capacity building.
The meeting also reflects Egypt's growing role in supporting Africa's financial integration by sharing expertise in payments, cash management, and banking regulation to promote trade, strengthen reserve diversification, and support institutional development across the continent.
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