BY MBONO MDLULI
MBABANE – The E45-million Micro, Small, and Medium Enterprises Revolving Fund has provided funding to businesses affected by COVID-19 and start-ups.
This is according to the 2024/25 annual performance report of the Ministry of Commerce, Industry and Trade. According to the report, as of September 2024, it was reported that loans amounting to E54.5 million had been distributed across various sectors, creating 27 new jobs, which brought the total to 3 084.
It was noted that the implementation of the Citizen Economic Empowerment Bill was progressing, with the Citizen Economic Empowerment (CEE) Council having been established in July 2023. The Council, supported by UNDP, was planning a benchmarking mission to Botswana’s Citizen Entrepreneurial Development Agency to enhance empowerment programs.
The Council’s term was set for three years, focusing on economic development and preferential procurement. It was expressed that Their Majesties’ participation in the Shiselweni business dinner in Nhlangano continued to serve as a key platform for business knowledge sharing, expansion, and investment growth.
COOPERATIVES
The cooperative sector had expanded, with 38 new cooperatives registered, bringing the total to 1 301. The sector’s asset value had grown to E3 billion, highlighting its increasing significance in economic development.
POLICIES
The Ministry was reviewing key policies, including the MSMEs Policy, Investment Policy, and Cooperative Policy, to enhance operations and encourage long-term growth.
INTELLECTUAL PROPERTY
This year, the Ministry has focused on implementing the Trademarks Act of 1981. Office procedures had been adjusted to allow local entrepreneurs to file trademark applications independently for non-contentious cases, which reduced costs and improved access.
BUSINESS FACILITATION
The Ministry was implementing reforms to streamline business registration. The draft Companies Bill, which aimed to facilitate same-day business registration, had been tabled in Parliament, with committee workshops planned. These reforms aimed to improve Eswatini’s business environment and attractiveness to investors.
Company Registration Statistics (2024/25)
- Total Registered Companies: 3 405
- Domestic Companies: 3 386
- Foreign Companies: 19
- Private Companies: 3 295
- Public Companies: 19
- Non-Profit Organizations: 197
- Online Registrations: 3 946
- Emaswati-Owned: 2 622
- Foreign-Owned: 251
- Name Changes: 32
- Deregistered Companies: 179
BUDGET
The Ministry had been allocated E142 173 635 for the financial year, of which E141 114 392 had been released, and E117 440 149 had been spent. Current commitments amounted to E7 203 501.
CAPITAL PROJECTS
A capital budget of E171 242 000 had been allocated for six strategic projects aimed at economic growth. Key initiatives included:
- Construction of factory shells in Nhlangano, Ndzevane, Ngwenya, and Piggs Peak.
- Rehabilitation of the National Handcraft Training Centre (E5 000 000).
- Procurement of laboratory equipment to enhance market access and trade competitiveness (E7 000 000).
- Development of the Sidvokodvo Industrial Estate (E15 000 000).
- Enhancing Junior Achievements Eswatini Capacity Phase II (E1 620 000, funded by Taiwan).
- Youth entrepreneurship training for tertiary students (E1 260 000, funded by Taiwan).
