Because its accounts are secret, there is no telling the degree to which Tibiyo dampens national growth, but it is substantial. Since the mid-1970s, Tibiyo's principal means of accomplishing this has been to obtain substantial shares (usually half) of virtually every important foreign-owned enterprise in the modern sector, often at little or no cost to itself. Because Tibiyo pays no taxes, that has meant that the national economy benefits only from wages earned and corporate taxes paid (or what is left of them after Tibiyo's exemptions) from nearly every significant business from hotels, construction,, and transport to financial institutions, mines, agribusiness (notably sugar), and forest products.
From
Alan Booth's Historical Dictionary of Swaziland
Scarecrow Press 2000
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