BY BANELE MAGONGO
MBABANE– The Government of the Republic of China (Taiwan) has spent E500 000, helping 33 businesses started by women entrepreneurs.
This was said by Taiwan Technical Mission Cooperatives Advisor Grace Dludlu. She was speaking through Eswatini TV’s Market View yesterday (Monday, May 27, 2024). The Taiwanese Government, according to Dludlu, has done this through the Women Business Start-Up Micro and Medium Revolving Fund, which has officially disbursed its first round of loans, marking a significant milestone in supporting the growth of women-owned small and medium enterprises (SMEs) in Eswatini.
With a target of assisting over 6 000 women entrepreneurs within the next four years, this groundbreaking initiative represents a notable investment in Eswatini’s economy, promising to empower women, drive economic development, and foster sustainable growth in the country.
According to Dludlu, the fund has already distributed over E500 000 to 33 businesses since its launch in March this year, representing a noteworthy investment from the E80 million allocated to support women-owned SMEs. Dludlu emphasised that this is only the beginning of a four-year initiative aimed at empowering and accelerating the growth of thousands of women-led businesses in Eswatini.
She explained that the Women Business Start-Up Micro and Medium Revolving Fund has already helped 33 beneficiaries, not only women but also men, with capital for their small, micro, and medium-sized businesses. She went on to highlight that the fund’s primary objective was to provide access to capital for individuals who were often overlooked or marginalised by traditional banking institutions, allowing them to seize growth opportunities and contribute to the country’s economic development.
Dludlu explained that with the help of the Women Business Start-Up Micro and Medium Revolving Fund, they were able to facilitate the establishment of a savings and credit cooperative known as Kuyenteka. This cooperative society enabled women to save money and borrow from their peers. With Kuyenteka appointed as the disbursement agent for the fund, Dludlu emphasized that access to capital for women entrepreneurs in Eswatini has become more streamlined.
She further stated that individuals can borrow up to E25 000 from the fund, with a 20 percent commitment fee and reasonable interest rates required upon repayment.
