BY MBONO MDLULI
MBABANE – The Industrial Development Company of Eswatini has distributed E25 857 044.54 in dividends to its shareholders.
The distribution has taken place today (May 15, 2024) at the offices of the company in Mbabane. During an event attended by Minister of Finance, Neal Rijkenberg, IDCE distributed dividends to its esteemed shareholders namely, the Eswatini Government, Eswatini National Provident Fund (ENPF), Nedbank Eswatini Limited and Standard Bank Eswatini Limited.
According to IDCE’s website, this means that the ENPF has received a lion’s share of the distributed amount. The ENPF has 61.95 percent shares within the company, and that means it got E16 018 439.09. Eswatini Government is the second largest shareholder in the company, with a percentage of 34.95 percent.
This means out of the E25 857 044.54, Government received E9 037 037.06. Nedbank Eswatini and Standard Bank Eswatini each received E400 784.19, as they hold 1.55 percent shares at IDCE.
IDCE fulfills its role by promoting and investing in financially viable projects in the sectors of: commercial property development, manufacturing, mining, agri-business, tourism, commerce, services, small and medium enterprises (SMEs), and renewable energy.
The company sees itself as the preferred development financier, while its mission is to stimulate and facilitate sustainable economic growth through the provision of development finance to all sectors of the economy satisfying stakeholder aspirations. The company supports projects that technically and economically feasible, financially viable, well managed, and can create employment.
IDCE is a development financier which was set up to finance the industrialization of the Eswatini economy. IDCE has several products designed to meet the needs of customers. To learn more about its products, visit the company’s website, which is idce.co.sz.
