ESWATINI – Minister of Commerce, Industry and Trade Manqoba Khumalo has today toured projects in the Post COVID-19 Economic Recovery Plan, according to an official statement from Government media. The two projects are the Eswatini Oil Mills (EOM), a solvent extraction company supplying SOMI, and a 6 000 square metre expansion of finished goods warehouse at Coca-Cola Eswatini (Conco).
According to the Government statement, EOM’s investment is worth E450 million and the company is expected to be up and running by July 2023. It will employ about 200 emaSwati. The Conco warehouse, on the other hand, is currently at 60% completion and is expected to be operational by April 2023.
Speaking during the tour, Minister Khumalo highlighted that, “The products that will be required for this investment will cost an estimated E1.5bn and will be sourced from local farmers pumping back into the Agriculture sector with E1.2bn raw material supplies to the local animal feed industry, replacing imports and 500tonnes/day supply chain.” He was speaking in reference to increasing the velocity of currency within the country in order to boost the economy.
Speaking about the Conco warehouse, Minister Khumalo remarked that “This significant investment reflects the confidence that Conco has in Eswatini and positions them to manage growth opportunities in the years ahead. It is an enabler for growth and the steady growth in headcount over future years is expected.”
