BY MBONO MDLULI
MBABANE – Tibiyo Taka Ngwane Managing Director (MD) Dr. Absalom Themba Dlamini has called upon Eswatini Development Finance Corporation (FINCORP) to further expand the decentralisation drive of its offices.
Tibiyo Taka Ngwane played a pivotal role in the formation of FINCORP, contributing a sum of E8 million towards the initial seed capital. This partnership with the Government of Eswatini has resulted in Tibiyo Taka Ngwane holding a 20 percent shareholding, while the Government holds 80 percent.
In the 2023 Annual Report for FINCORP, the MD commended FINCORP for its remarkable achievements in fulfilling its mandate of providing access to finance to thousands of Micro, Small, and Medium Enterprises (MSMEs) across various economic sectors in Eswatini. He also praised FINCORP for its expanded outreach and scope of product offerings, which have positioned it as a formidable force in the country’s financial services sector.
“We have observed with commendation the efforts made by FINCORP in decentralising its offices, bringing financial services closer to the communities they serve,” stated Dr. Absalom Themba Dlamini. “We encourage the institution to continue this approach and expand its presence to profitable and cost-effective new locations. This will ensure greater accessibility and inclusivity for all Emaswati.”
He noted that despite the challenges faced in the development finance sector, FINCORP has remained financially and institutionally strong over the years. “The organisation has successfully attracted funding from both domestic and international institutions, further solidifying its position as a key player in Eswatini’s financial landscape,” he said.
“We believe that by expanding the decentralisation of FINCORP’s offices, the company can further empower our citizens and foster economic growth. Tibiyo Taka Ngwane stands ready to support and collaborate with FINCORP in achieving this shared vision.”
In this regard, FINCORP Board Chairman, Meshack Kunene said as the company continues to roll out its corporate strategy, which seeks to digitize operations to improve service delivery and customer experience, remote access to its services will make it possible for clients to cut the costs of doing business with the organization, but most importantly be easily accessible to the nation.
