Eswatini Advances Financial Inclusion with Launch of National e-KYC System
By digitizing identity verification, the e-KYC platform will not only simplify the process for banking services but also enable citizens to securely access government programs and social benefits.
The Central Bank of Eswatini has announced the development of a national electronic Know Your Customer (e-KYC) system, a major milestone in the country’s digital transformation journey. The initiative is designed to expand financial inclusion by easing access to formal financial services for Eswatini’s unbanked population.
By digitizing identity verification, the e-KYC platform will not only simplify the process for banking services but also enable citizens to securely access government programs and social benefits. Authorities highlight that the system will further enhance national security by giving law enforcement and regulators better tools to identify and investigate financial crimes.
Deputy Governor Felicia Dlamini-Kunene inaugurated a high-level stakeholder meeting to discuss the rollout of the platform. The gathering brought together commercial banks, regulators, financial service providers, and government ministries to align existing systems in preparation for the national registry.
The e-KYC initiative also carries a regional dimension, with Eswatini exploring the possibility of a cross-border registry to support real-time, secure identity verification across the Southern African Development Community (SADC). This move could pave the way for a more integrated payments infrastructure, boosting financial efficiency and security across the region.
