MOBILE KITCHENS WORTH E85 000 EACH AWARDED TO 8 ENTREPRENEURS 

BY BUSINESS EDITOR

MBABANE – At least 8 Micro Small and Medium Enterprises (MSMEs) won themselves fully-fitted mobile kitchens worth over E85 000 each.

Business Eswatini (BE) and Eswatini Coca-Cola Beverages through the “Bizniz in a Box” programme have awarded eight local entrepreneurs with capital packs which include mobile kitchens to run their respective businesses.

The event took place at Business Eswatini head offices at Emafini and was attended by the Minister of Commerce, Industry and Trade Manqoba Khumalo.

Also present was Business Eswatini President Mvuselelo Fakudze and Muzi Siyaya who urged the entrepreneurs to utilize the packs to make their businesses more efficient.

The Bizniz-In-A-Box initiative seeks to empower and assist MSMEs in Eswatini by offering them access to markets, training, and mentorship, as well as a fully functional mobile kitchen.

The beneficiaries requested the Ministry of Commerce, Industry and Trade to consider reviewing company registration costs as they felt these were high to which the Minister committed to looking into the matter.

“The MSMEs have a great chance to expand their operations, generate income, and support the national economy with this. This initiative serves as a catalyst for economic empowerment, job creation, and poverty alleviation.”

“The promotion of MSMEs is not merely a matter of economic policy; it is a strategic investment in the sustainable development of a Nation, fostering innovation, inclusivity, and resilience in the face of global challenges,” mentioned Khumalo.

Worth noting, one of the challenges hindering MSMEs from acquiring financial assistance is the fact that they use personal accounts for their businesses.

A FinScope Micro, Small, and Medium Enterprises (MSME) survey was conducted by the Centre for Financial Inclusion (CFI), and it revealed that there were approximately 60 000 MSMEs in Eswatini. At least 69 per cent of the MSMEs were discovered to be financially included; 86 per cent use personal accounts to run businesses and only 14 per cent use business accounts to run businesses.

MSMEs employ about 92 643 people, generating a monthly turnover of E92.5 million within the MSME sector only, and over 75 per cent are at the micro level. A majority of the MSMEs were found to be at the micro level, and a majority of them did not have business accounts but used personal accounts to run their small enterprises, which in turn affected the need to have concise measures to address their needs.