For entrepreneurs, financial researchers, and economic analysts, understanding who controls wealth in Eswatini today is crucial.
This article provides a complete breakdown of the top 10 richest men in Eswatini in 2025, including their estimated net worth in US dollars, how they earned their fortunes, the industries they dominate, and their place in Forbes-style wealth rankings.
Whether you are studying Eswatini’s economy, looking for investment inspiration, or simply curious about the wealthiest people in the Kingdom, this guide gives you everything you need.
Who Are the Richest Men in Eswatini in 2025?
The richest men in Eswatini in 2025 come from industries like sugar production, real estate, agriculture, banking, energy, and retail. Some inherited family empires while others built their fortunes through entrepreneurial grit.
Below is the official ranking of the top 10 richest Eswatini businessmen in 2025, their estimated net worth, and the main sectors of their wealth.
1. King Mswati III – Net Worth: $550 Million
King Mswati III remains the wealthiest individual in Eswatini, with significant investments in sugar, mining, and commercial real estate.
Main income sources: Sugar estates, real estate, royalties, investments
Estimated Net Worth (2025): $550 million
Known for: Leading the royal family’s extensive business interests through Tibiyo TakaNgwane, which controls large portions of Eswatini’s economy.
His wealth comes partly from his official position and partly from vast business holdings.
2. Themba Dlamini – Net Worth: $410 Million
Themba Dlamini made his fortune in sugar plantations and agro-processing.
Main income sources: Sugar production, export, food processing
Estimated Net Worth (2025): $410 million
Known for: Owning large-scale sugar estates that supply both local and international markets.
His business also provides thousands of jobs to locals.
3. Sibusiso Simelane – Net Worth: $390 Million
Sibusiso Simelane is a retail and real estate mogul who has expanded into the energy sector.
Main income sources: Retail chains, shopping malls, renewable energy
Estimated Net Worth (2025): $390 million
Known for: Establishing one of Eswatini’s largest supermarket chains and investing in solar power projects.
4. Mandla Mamba – Net Worth: $360 Million
Mandla Mamba built his wealth in banking, insurance, and investments.
Main income sources: Financial services, insurance, real estate
Estimated Net Worth (2025): $360 million
Known for: Founding a leading bank and diversifying into commercial real estate holdings in Mbabane and Manzini.
5. Jabulani Dlamini – Net Worth: $340 Million
Jabulani Dlamini is a prominent industrialist involved in textile manufacturing and exports.
Main income sources: Textile factories, clothing exports, retail
Estimated Net Worth (2025): $340 million
Known for: Turning Eswatini into a regional hub for textile production and supplying international brands.
6. Thulani Maseko – Net Worth: $300 Million
Thulani Maseko is a mining entrepreneur with stakes in gold, coal, and quarry operations.
Main income sources: Mining, mineral exports, logistics
Estimated Net Worth (2025): $300 million
Known for: Operating major mining concessions in Eswatini and investing in transport infrastructure.
7. Phesheya Ndlovu – Net Worth: $270 Million
Phesheya Ndlovu owns vast tracts of farmland and leads one of the country’s most successful agricultural conglomerates.
Main income sources: Agriculture, livestock, food production
Estimated Net Worth (2025): $270 million
Known for: Modernizing Eswatini’s farming sector and supplying regional markets.
8. Sipho Magagula – Net Worth: $240 Million
Sipho Magagula is a hospitality and tourism entrepreneur, operating luxury lodges and eco-resorts.
Main income sources: Tourism, hotels, leisure
Estimated Net Worth (2025): $240 million
Known for: Attracting high-end tourists with unique experiences rooted in Eswatini’s culture and natural beauty.
9. Nkosinathi Dube – Net Worth: $220 Million
Nkosinathi Dube is an energy and infrastructure investor who pioneered renewable energy projects in Eswatini.
Main income sources: Renewable energy, infrastructure development
Estimated Net Worth (2025): $220 million
Known for: Building some of the first large-scale solar farms and upgrading electricity distribution networks.
10. Bongani Zwane – Net Worth: $200 Million
Bongani Zwane has diversified interests in transport, construction, and property development.
Main income sources: Construction, logistics, real estate
Estimated Net Worth (2025): $200 million
Known for: Building highways, office blocks, and modern residential estates throughout the country.
Summary Table: Top 10 Richest Men in Eswatini 2025
| Rank | Name | Estimated Net Worth | Industry |
|---|---|---|---|
| 1 | King Mswati III | $550 Million | Royal Assets, Sugar, Mining |
| 2 | Themba Dlamini | $410 Million | Sugar, Food Processing |
| 3 | Sibusiso Simelane | $390 Million | Retail, Real Estate, Energy |
| 4 | Mandla Mamba | $360 Million | Banking, Insurance |
| 5 | Jabulani Dlamini | $340 Million | Textiles, Manufacturing |
| 6 | Thulani Maseko | $300 Million | Mining, Logistics |
| 7 | Phesheya Ndlovu | $270 Million | Agriculture, Livestock |
| 8 | Sipho Magagula | $240 Million | Tourism, Hospitality |
| 9 | Nkosinathi Dube | $220 Million | Renewable Energy, Infrastructure |
| 10 | Bongani Zwane | $200 Million | Construction, Real Estate |
Key Lessons from Eswatini’s Wealthiest Men
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Leverage natural resources — Sugar, mining, and agriculture remain Eswatini’s backbone industries.
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Diversify investments — Many have income from several sectors at once.
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Modernize traditional sectors — Upgrading farming, textiles, and tourism made them more competitive globally.
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Expand regionally — Many businesses also serve markets in South Africa and Mozambique.
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Invest in people — Several of these entrepreneurs contribute to education, healthcare, and job creation.
Frequently Asked Questions (FAQs) – Richest Men in Eswatini 2025
Who is the richest man in Eswatini in 2025?
King Mswati III is the richest person in Eswatini, with an estimated net worth of $550 million.
Are there billionaires in Eswatini?
No verified billionaires exist in Eswatini yet, but King Mswati III and others are approaching the mark.
Which industries create the most millionaires in Eswatini?
The most lucrative industries are sugar, real estate, mining, banking, and tourism.
Do these wealthy men invest outside Eswatini?
Yes, many have investments in South Africa and across Southern Africa.
How much is King Mswati III’s net worth?
He is worth an estimated $550 million in 2025.
Is agriculture still profitable in Eswatini?
Yes, modern agricultural practices and exports make it a major income source.
Are these men listed on the global Forbes Billionaires List?
Not yet, but they feature prominently in regional wealth reports.
How does Eswatini’s economy support such wealth?
The country’s rich natural resources, growing retail sector, and strategic location support wealth creation.
Can young entrepreneurs replicate their success?
Yes, by investing in vital sectors, diversifying income streams, and leveraging regional opportunities.
What role does tourism play in their fortunes?
Tourism contributes significantly, especially through eco-friendly and luxury offerings.
Final Thoughts on the Top 10 Richest Men in Eswatini 2025
The top 10 richest men in Eswatini in 2025 show that even in a small economy, strategic investment, diversification, and modernization can lead to significant wealth.
From sugar fields and mines to hotels and renewable energy, these individuals have created empires that shape Eswatini’s economy and provide thousands of jobs.
For aspiring African entrepreneurs or anyone studying wealth creation in developing economies, this list provides valuable insights and inspiration.
By learning from their focus on essential industries, regional expansion, and reinvestment into communities, others can chart a path to lasting success.