National Blueprint · One of 195
A nation of 1.26 million that reached the 95-95-95 HIV treatment targets a decade early, and where more than half of citizens still live below the poverty line.
Perfect Nations values what Eswatini owns and raises capital against it, through innovative financing for development (FfD) and super intelligence (SI).
Eswatini at a glance
What we do for Eswatini
Perfect Nations is a new-age sovereign advisory firm, and its clients are nations.
The whole logo: a Perfect Nation, where every citizen has all seven basic standards of living, led by good governance.
01Assets · The cup · Sovereign Assets
Each is owned today, earns today, and can carry Eswatini toward seven basic standards of living for every citizen.
95-95-95HIV targets met, a decade early
94% know their status, 97% of them are on treatment, 96% of those are virally suppressed.
83.1%Renewable share of electricity output, 2021
And 89.3% of citizens connected, among the highest in the region.
69.6%Of land in agriculture, 2024
Sugar cane and farms across most of the country, while half of citizens are poor.
25.3%Of land under forest, 2024
Woodland and plantations across a quarter of the kingdom.
1.26mCitizens, 2025
Three in four live in the countryside.
02Capital · The laurels · Capital Architecture
Bonds, guarantees, swaps and loans that raise capital against what Eswatini owns, every line sourced.
Capital ArchitectureThe record in figures
Capital already committed
Approved 15 June 2026 · Three World Bank commitments of $19.3M, $26M and $19.7M
Broadband and digital public services
A World Bank project to widen access to affordable broadband and to help the government deliver public services online. Digital access supports livelihood and the reach of education and health services.
World Bank
SourceApproved 29 July 2025 · Signed 16 January 2026 · Policy-based loan · Total programme $200M with the IBRD and the AfDB
Co-finances the World Bank reform loan
The OPEC Fund’s policy-based loan to the reform programme of the same name, co-financed with the IBRD and the African Development Bank and executed by the Ministry of Finance. The World Bank’s part of the programme is the $100 million development policy loan listed here.
OPEC Fund for International DevelopmentWorld BankAfrican Development Bank
SourceBoard approval announced 30 April 2025 · Development policy loan · First of a programmatic series of two
Public debt, private sector and energy reforms
Budget support for reforms to public debt management and spending arrears, the business climate and digital payments, and the opening of the electricity market to private renewable power. It builds on the 2021 to 2022 series and aims to mobilise private capital and expand energy access.
World Bank
SourceAnnounced 13 February 2025 · $39M IDA, $51M IBRD, $10M Livable Planet Fund grant
Electricity for 200,000 people
Grid and off-grid electricity for 200,000 people, with 50,000 new household connections over five years, building on the Network Reinforcement and Access Project. It aims at the remaining 12% of citizens without electricity, the energy standard.
World Bank
SourceApproved 21 June 2023 · Signed 23 December 2024 · Project loan · Total cost $213.5M
Dams and irrigation in the south
The OPEC Fund’s loan to the second phase of the water augmentation programme, executed by ESWADE, with the Government, BADEA, the DBSA and the African Development Bank. Stored water for irrigated farming supports the food and livelihood standards.
OPEC Fund for International DevelopmentBADEADBSAAfrican Development Bank
SourceApproved 2 May 2022 · Investment project financing
Early years and basic schooling
Supports early childhood development and basic education.
World Bank
SourceApproved 22 June 2020 · Investment project financing
Health system
Strengthens primary care and the health system.
World Bank
SourceApproved 10 October 2019 · Additional financing of $8M, 12 June 2025 · Investment project financing
Rural water and sanitation
Extends safe water and sanitation to underserved communities. The World Bank raised its financing from $45 million to $53 million in June 2025: the water standard sets Coverage in Eswatini.
World Bank
SourceApproved 27 June 2019 · Investment project financing
Grid and new connections
Strengthens the grid and connects new households.
World Bank
SourceAnnounced July 2025 · Loan · First phase of a two-year programme
Public finance and private-sector growth
African Development Bank budget support for fiscal and public financial management reforms and for private-sector-led, inclusive and green growth. It aims to reduce domestic arrears, raise private-sector growth and increase the renewable share of energy, alongside World Bank financing.
African Development Bank
SourceAnnounced 9 December 2024 · Loan · 105.9 km of paved roads on the MR14 and MR21
Climate-resilient roads in the east and south
Upgrades 105.9 km of paved road on the MR14 (Siphofaneni to Nsoko) and the MR21 (Maloma to Siphambanweni), with bridges and an axle-load weighing station. It includes vocational training and apprenticeships for at least 200 young people in the Lubombo and Shiselweni regions.
African Development Bank
SourceApproved 8 June 2023 · Grant from the Urban and Municipal Development Fund
Planning a new town for an agro-processing zone
An African Development Bank grant to ESWADE for the vision, master plan and pre-feasibility studies of a new urban area in Shiselweni, linked to the Mkhondvo-Ngwavuma water programme and a planned agro-processing zone. It plans for housing, health and education services for the workers and families the zone would bring.
African Development BankESWADE
SourceFinancial close announced 3 February 2025 · Standard Bank mandated lead arranger
Private hydropower for the national grid
Debt financing for a 13.5 MW hydropower plant developed by African Clean Energy Developments, whose shareholders are the IDEAS Fund managed by AIIM and the Eswatini Public Service Pensions Fund. It adds a private renewable source of power, the energy standard.
Standard BankAfrican Clean Energy DevelopmentsIDEAS Fund (AIIM)Public Service Pensions Fund
Source
Lindiwe SimelaneNation Steward of Eswatini · SI Researcher
Independent firms and social enterprises already at work in Eswatini, highlighted by Perfect Nations. None is a partner of Perfect Nations.
Mobile and pop-up clinics that take care to rural communities, where three in four citizens live; its Matsapha Mobile Clinic for factory workers sees an average of 300 people a day.
The Luke CommissionA social enterprise whose model lets rural women earn an income by weaving from their homes, using Eswatini’s ancestral weaving techniques.
VOA, 202403Solutions · The seven stars · Perfect Capita
Perfect Capita is the yearly cost, per person, of lifting everyone above the Living Line in all seven basic living standards, set with Eswatini in its own prices.
How Perfect Capita worksTap a star for its figure and source.
The price of Perfect Eswatini
To be set with Eswatini, from its own figures and in its own prices: Perfect Capita times the people of Eswatini, each year.
Perfect Nations estimate, to be confirmed with Eswatini. Figures marked dated rest on surveys more than five years old; lenient measures are marked as such. The strict measures
Strict measures. Food: share not moderately or severely food insecure (FAO). Water: safely managed drinking water where measured; where it is not, basic water, marked as such. Shelter: the lower of safely managed sanitation and the share outside urban slums. Energy: the lower of electricity per person against 1,000 kWh and clean cooking. Education: the lower of children reading by the end of primary school and lower-secondary completion. Health: WHO service coverage index. Livelihood: share above the stricter of the national poverty line and the World Bank line for the nation’s income group. Each figure links to its source.
Solution No. 10
The nation that met its HIV targets early brings the same discipline to safe water at home.
~776,000Emaswati without safely managed drinking water at home
You have done something few nations have done: you turned back an epidemic. … Care reached almost everyone. Income has not.
“You proved that a small nation can reach everyone with care. Now reach everyone with a livelihood.”
Work with us · The ReDesign Studio
One mission, three depths: the same four moves for Eswatini, taken as far toward market as you choose.
For the Government of Eswatini, its development partners and investors. Scope and fees are agreed in writing before any work begins.
Mandate 013 hours
A private session for the people who decide.
You leave withThe gap, named and sized
Mandate 023 days
Your team and ours, working the blueprint together.
You leave withThe structure, drawn
Mandate 03End to end
Led personally by the President and CEO.
You leave withA structure ready for market
Where Emaswati and Co-designers design the nation they want to live in.
Writings
Up to 1,500 words on your vision of Perfect Eswatini, published with your name.
Submit your writingVoices of Perfect Nations Launching soon
Great local leaders: honest, dedicated and committed to basic standards of living for all. Every guest answers one question: “What does Eswatini already own, and how could it pay for a decent life for every citizen?”
Co-designers
Everyone who shares a vision, a voice or an enterprise here becomes a Co-designer of Perfect Eswatini.
Become a Co-designerThe Eswatini ReDesign Studio is open
Share your vision, suggest a guest, or write to us: every message receives a personal reply.
