MBABANE – If you think government has done little in assisting small and medium enterprises, read this.
Did you know that government, through Eswatini Bank, has disbursed over E10 million of the E45 million MSME Relief Fund since it became operational in February 2021.
The good news was disclosed by Minister of Commerce, Industry and Trade Manqoba Khumalo today when addressing the United States Business Roundtable held at the U.S. Embassy.
The minister stated that as of the end of July 2021, the fund has disbursed over E10.1 million which benefitted 165 existing and start-up businesses both in the informal and formal sector. He said businesses that are the main beneficiaries include mobile money vendors, motor spares, and transport.
“As a ministry, we pride ourselves on the success of the fund, and we are continuously engaging with Eswatini Bank to find ways of ensuring that the eligibility criteria is simplified,” he said.
“Over the last three years, a total of 18 152 jobs have been created. In the year 2018/19 a total of seven companies established and created 1 854 jobs. Six of the companies are in the textiles sector as two expanded their investment,” he said.
The minister further explained that in the year 2019/2020, a total of 11 companies were established and created 4 917 jobs.
He said in 2020/21, 49 new investments were realized and created 11 381 jobs.
“Eswatini has been making great strides towards improving the business environment which has seen the country gradually implementing a rigorous reform programme aimed at clearing a number of bottlenecks,” he said.
He continued: “Government has approved the regulations of the fund through parliament and are being gazetted. Next will be the establishment of the Management Committee which will develop guidelines to be approved by Cabinet then disbursement can start.”
