Eswatini passes law restricting foreign enterprises
1 report, 1 independent
Updated 00:00
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What happened
Eswatini’s parliament approved the Citizen Economic Empowerment Act this week. The law requires foreign businesses operating illegally to leave the country within one year. The legislation aims to increase business ownership and economic participation among Eswatini citizens.
From globalpost.com
Why it matters
The law follows complaints from local businesses that foreign-owned enterprises, mainly Asian-owned, were competing in traditional retail markets and threatening livelihoods. Authorities had previously found violations during inspections, including issues regarding working conditions and employee leave. The move is intended to create more economic opportunities for Eswatini citizens.
From globalpost.com
Who's involved
- EswatiniSovereign state that passed the law restricting foreign businesses