BY PHUMZILE NDLOVU
MBABANE: A total of 155 businesses were incubated, creating employment for 994 emaSwati. This is one of the many SEDCO success stories shared by SEDCO CEO Khethiwe Mhlanga.
The role of Small Enterprise Development Company (SEDCO) is to provide entrepreneurship development interventions to contribute to national economic growth, employment creation, and poverty reduction.
In an exclusive interview with this publication, the CEO of SEDCO shared that success stories of the (SEDCO) were showcased in the Entrepreneur of the Year Awards last year. She said, “Last year we hosted the 17th edition of EYA, whereby we noted that most of the winners in the various categories have undergone training or business coaching by SEDCO. The overall winner of 2023 of the 17th edition, Thamsanqa Mdluli of Acero Steel, was first incubated in the SEDCO estate in Matsapha.”
According to the CEO, Mdluli’s company, Acero Steel, is a manufacturing company based in Matsapha that specialises in steel products, including door frames, window frames, nails, metre boxes, and steel fabrication. The company employs 25 full-time staff and about 10 temporary staff members. His business expanded over the years as he built his own factory and exited the incubation programme at SEDCO.
Mhlanga went on to say, “SEDCO provides capacity building for young entrepreneurs through face-to-face entrepreneurship training or one can opt for the online training. We offer business coaching and mentorship for those young entrepreneurs who already have businesses running. We can facilitate their company’s registration.”
SEDCO success stories for the financial year 2023–24: are listed below.
- A total of 155 businesses were incubated, creating employment for 994 emaSwati.
- A total of 140 businesses were coached under the YERF project, which resulted in the creation of 280 jobs.
- Under the ITC project, 205 entrepreneurs were trained, while 10 were assisted with business plan development.
- 120 participants were enrolled in the SIMAMA Online Learning Platform.
- Over 1150 households were trained under the World Vision project. The latter also saw 79 producer groups registered, of which 18 were linked to markets and nine business plans developed.
- SEDCO also conducted training for 241 vendors operating within Mbabane City as part of the Mbabane Municipality project.
- A total of 3700 Inhlanyelo Fund applicants were trained before receiving their loans.
According to the CEO, MSMEs have issues with time and financial constraints, hence their inability to take advantage of business development support services. “It is difficult for an entrepreneur to leave their business and attend training; hence, platforms like online training, which can be done at their own pace, are welcome, including broadcasting services, as they can work while listening to the programmes, fostering their growth”
Mhlanga went on to share that some MSMEs have not yet grasped that training is also an investment in the business’s growth. Their job is to ensure that the MSME environment is conducive and supports the various stages of their business cycle.
“Access to information for our MSME is our priority in order to build better business management and inclusiveness, whereby training can be offered in both official languages. Therefore, our MSME’s mindset will shift to have a clear understanding of issues of market expansion with information on supply and demand trends in our economy. There are also future partnerships that will foster knowledge dissemination through business-to-business networking that will empower MSME growth and innovation,” said the CEO.
