How Eswatini became a haven for money laundering

Stephen Grootes speaks with Micah Reddy, journalist and Africa coordinator at the International Consortium of Investigative Journalists.

Listen to the interview in the audio below. 

The International Consortium of Investigative Journalists has obtained leaked filed which incriminates the Swazi king’s son-in-law.

Eswatini, an absolute monarchy and the last of its kind in Africa, has been ruled by King Mswati III since 1986.

Mswati's son-in-law is alleged to have laundered money from South Africa to Dubai, via Eswatini, in an alleged deal with a Dubai-based gold dealer.

According to Micah Reddy, journalist and Africa coordinator at the International Consortium of Investigative Journalists, says money laundering and fraud is rife in the tiny African Kingdom nation. 

"We're talking about significant sums. In rand terms, just between the period we were looking at included November, December 2018. And in that case, we're talking about near-on R70 million flowing through these mysterious Swazi companies..."

- Micah Reddy, journalist - International Consortium of Investigative Journalists

"What the Eswatini Financial Intelligence Unit where these leaks emanated from, what they picked up on, was the nature of these transactions being designed to obfuscate."

- Micah Reddy, journalist - International Consortium of Investigative Journalists

"Dubai is somewhat of a blackhole, which is why it is a destination of choice for people who want to hide money and for money launderers."

- Micah Reddy, journalist - International Consortium of Investigative Journalists

Scroll to the top of the article to listen to the full interview.