BY DELISA THWALA
MBABANE – His Majesty King Mswati III has come out to say he is looking forward to the day a liSwati SME makes their first E1 billion through legitimate business.
His Majesty was speaking during the Entrepreneur of the Year Awards last night where Thamsanqa Mdluli of Acero Steel was crowned the overall winner of the awards.
His Majesty said amassing E1 billion is an achievable dream, however discouraging MSMEs from engaging in illegal practices and corruption in a quest to reach this milestone.
He said if some business people internationally were able to turn around their fortunes during COVID-19, it was also possible for emaSwati to achieve the same.
“We are pleased that the country initiated the Entrepreneur of the Year Awards competition because it inculcates a culture of excellence in doing business. This is why the Government continues to support the recognition of outstanding business people with a view to showcasing their achievements. This also inspires other entrepreneurs to improve management practices in their Enterprises,” said His Majesty.
He further said, the country’s MSME sector plays a vital role in developing the economy, and it has a great growth potential.
He revealed that, It employs approximately 92 000 emaSwati, which represents 21 percent of the country’s workforce.
Furthermore, this sector is playing an active role in wealth creation, reducing poverty and generally improving the livelihoods of Eswatini.
“We are pleased that the Government realised the importance of this sector and established various measures to mitigate the negative impact of the health crisis on small-scale businesses in Eswatini,”
“This includes the roll out of the E45 million MSME Revolving Relief Fund in order to support formal and informal MSMEs that were affected by COVID-19. We have been informed that the fund has assisted over 2 940 businesses, with a total of about E51 million having been disbursed since its launch in 2021,” he said.
His Majesty further said they have been informed that MSMEs currently provide an estimated 41 percent of all employment opportunities in the country. As it is clear that their potential to uplift socioeconomic levels and development is unlimited.
“We are fully aware of the many challenges that you encounter while running your businesses, particularly over the past two years. We congratulate you for your perseverance as you focused on your core business objectives of creating wealth for yourselves and job opportunities for emaSwati.” he said.
