Eswatini Airport Free Zone: Christopher Aleo's African Bet

The Swiss banker signs an agreement with King Mswati III to create a fiscal and banking hub set to reshape Southern Africa

Published: Tue 9 Sept 2025, 12:06 PM

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A new player is entering the global landscape of special economic zones: the eSwatini Airport Free Zone, a pioneering project that aims to redefine the concept of fiscal and banking hubs in Africa. This small kingdom, nestled between South Africa and Mozambique, now aspires to replicate the successful models of Switzerland and Dubai, positioning itself as a magnet for global capital and businesses.

Leading the initiative is Christopher Aleo, Swiss banker and CEO of iSwiss Group , a Forbes-featured entrepreneur listed among the most influential young leaders worldwide. Aleo has signed a direct agreement with His Majesty King Mswati III and the local government, entrusting the management of the Free Zone to iSwiss-controlled FZ Capital JSC. This marks the first time a private European banking group has been granted such a mandate in Sub-Saharan Africa.

The project's uniqueness lies in its integration of company incorporation and banking services. Through the official online portal set to go live by late September, businesses will be able to establish a company in less than three minutes using remote facial recognition and document verification. At the same time, they will receive an instant multi-currency account connected to international SEPA and SWIFT networks.“We reversed the paradigm,” Aleo explains.“This is the world's first Free Zone directly linked to a banking institution. We are eliminating the biggest friction entrepreneurs face: setting up companies without immediately operational financial tools .”

The masterplan includes a 3,500-sq-m central building with offices, a bar, and a restaurant, serving as the headquarters of a wider 30-hectare complex with direct access to Manzini's international airport runway. Alongside the digital platform, the Free Zone will feature key physical infrastructure, including an underground vault with over 3,000 safety deposit boxes and a gold refinery for smelting and secure custody of precious metals.

The fiscal incentives complete the picture: taxation reduced to as low as 0% for startups and new companies, with a target of attracting between 600,000 and one million registrations by 2026. Such figures could transform the small kingdom into an unprecedented financial and entrepreneurial hub in the region.

Aleo designed this model drawing on his experience in the UAE.“We imported the best elements of successful free zones and adapted them to the African context,” he explains.“eSwatini can become a new Switzerland of Africa, with stability, security, and the capacity to attract capital.”

For Italian and European businesses, the project opens a strategic gateway to South Africa and the wider Southern African market. From manufacturing to agribusiness, logistics to design, the sectors that could benefit are manifold.

The official launch of the eSwatini Airport Free Zone this September will mark the beginning of a bold venture - one that could reshape not only the country's future but the entire map of African free zones. For Christopher Aleo, it is yet another milestone in a global career that has already taken him from Forbes covers to luxury real estate deals in Dubai and groundbreaking development projects in Africa.

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