Azerbaijani businessman Emin Agalarov pledges E1.65 billion for factories in Eswatini

Emin Agalarov, first vice president of Crocus Group, pledged E1.65 billion for manufacturing factories in Eswatini at a Royal Theatre Night dinner in Ezulwini on Saturday. The Times of Eswatini put the pledge at US$100 million and Billionaires.Africa at US$99 million. King Mswati III welcomed it and said he was confident it would be honoured, while noting that Eswatini had previously seen investors announce projects that were never delivered.

Why it matters

A pledge of this size would be significant for Eswatini's manufacturing base, but it remains a statement of intent until projects are defined and funded.

Sources: Times of Eswatini, Billionaires.Africa · 9 November 2026

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