BY MBONGENI NDLELA
MBABANE – More good news!
INFRACAST, a company which manufactures precast concrete products using the
latest technology and owned by emaSwati, has opened in Matsapha.
The company currently employs 80 emaSwati, with a E20 million investment in
the first phase.
It has been announced that a further E14 million investment and an estimated 40
employment opportunities are expected in Phase II of the project. This phase will
begin before the end of the year.
Minister of Commerce, Industry and Trade Manqoba Khumalo officially launched
the new company yesterday.
Khumalo said he was excited to see such a launch happening even before COVID-
19 was over.
I am further excited by the fact that this is an Eswatini-owned business. Whilst we
encourage Foreign Direct Investments, we equally want to see emaSwati take up
space in business," he said.
He continued: "I am also excited by the import substitution element of the
company. This means there is going to be phenomenal growth, something we
should encourage in business. Also, their export strategy is another exciting thing
about this investment."
"Another thing that excites me is that the entire factory is run by local talent. This
speaks to the capability of our local artisans. It is for this reason that Government
applauds this business," the minister said.
Meanwhile, Business Eswatini Chief Executive Officer Nathi Dlamini said the
establishment of company yielded hope because every project that is started in this
Kingdom serves to feed into hope, which is something that the country needed at
this juncture.
“The people you employ represent the hope that we desperately need," Dlamini
said.
INFRACAST Representative Wayne Lavendale disclosed that at the heat of
COVID-19, the Minister of Commerce and Business Eswatini called companies
together and further challenged them to think outside the box.
“This is part of the challenge extended to us. All the production, to management to
sales is done by locals," he said.
INFRACAST has also donated E200 000 worth of culverts to Micro Projects to be
used in rehabilitating bridges, particularly those damaged during Cyclone Eloise.
