BY TSABEDZE KWANELE
MBABANE – His Majesty King Mswati III’s June trip to meet with investors in Singapore has quickly yielded fruits. This comes after the Tolaram Group from Singapore has committed to invest a further E262 Million in the country to help develop the economy.
This announcement was made today by Minister of Commerce Industry and Trade Manqoba Khumalo. According to an official statement by Government, “The hair extensions manufacturing company, which already has footprints in Africa, in Nigeria and Kenya, is launching in SADC as ‘Be Beautiful’ and will implement its E262 million investment in phases over a period of five years, starting with an initial investment of E67.2 million. It is expected to create 475 jobs in its first phase, and 3 000 at full scale.”
‘Be Beautiful’ is a subsidiary of the Tolaram Group, which has already invested in the kingdom through a joint venture known as Kellog’s Tolaram – the company manufactures food products, especially noodles for Eswatini as well as for export.
Speaking about the investment, Minister Khumalo remarked that, “Further to our drive for decentralisation, this manufacturing plant will be established at the Ngwenya Industrial Estate. This is a significant milestone for the growth of our economy and the creation of jobs on a scale that will reduce current levels of unemployment.”
Minister Khumalo also added that The Ministry of Commerce, Industry and Trade will continue to embark on ambitious investment drives to ensure that this becomes an era of investment, growth, job creation and meaningful economic transformation.
