AGSPAC Limited has commenced trading on the Eswatini Stock Exchange (ESE) after being listed as the 10th company.

On the first day of trading, the share price was E1 with an issued share capital of 11 million shares, thus bringing the market capitalisation of AGSPAC to E11 million.

The Ring a Bell ceremony, meant to signify the achievement of an important milestone, saw Minister of Finance Neal Rijkenberg praise AGSPAC for their confidence in the local market.

The listing saw the ESE market capitalisation increase by 0.16% to over E6.9 billion, with the All-Share Index remaining at 491.45 due to an issuance of new securities being regarded as corporate action.

He commended the entity for choosing to list domestically, thus strengthening the kingdom’s financial infrastructure. He said the occasion was not only a celebration of a successful transaction but also a clear signal of confidence in the country’s economic future and in the growing maturity of the capital market.

The minister said AGSPAC’s decision to list domestically demonstrated belief in the potential of the local market and in the role that locally anchored capital formation could play in driving sustainable growth.

He also lauded the various local professional teams that AGSPAC partnered with for their dedication in bringing the listing to fruition, stating that their work strengthened the credibility and integrity of the financial system.

Rijkenberg added that AGSPAC’s listing highlighted the importance of building companies that could scale over time. He said they were encouraged by the potential for AGSPAC to raise additional capital in the future and expand into sectors that support diversification and resilience.

“This is exactly the type of enterprise growth that deep capital markets are designed to enable. A well-functioning capital market is not a luxury, but a strategic economic necessity. Efficient markets mobilise savings, channel investment into productive sectors, improve transparency and governance, as well as provide reliable mechanisms for price discovery and capital allocation.

These outcomes directly support economic stability, private-sector growth, employment creation, and long-term fiscal sustainability. Government remained fully committed to strengthening the institutional foundations that allowed our capital market to thrive, including sound regulation, investor protection, market infrastructure development, and regional and international partnerships,” said Rijkenberg.

The minister also noted that a strong exchange enabled government to effectively execute its responsibilities in economic stewardship, infrastructure development, and fiscal management, while reducing over-reliance on public funding and external borrowing.

He said such listings reinforced national ambition to develop a vibrant, inclusive, and competitive capital market that serves both investors and businesses.

“When more quality issuers come to market,” he said, “investor confidence strengthened and liquidity improved, which ultimately expanded domestic ownership of productive assets and keeps more economic value within our borders.

The listing reflects our collective progress toward a stronger, more self-sustaining economy driven by private enterprise, long-term investment, and sound financial governance. Government looks forward to continued collaboration with the Eswatini Stock Exchange, regulators, and market participants as we build a capital market that truly serves the aspirations of the public and supports national development,” added the minister.