By Mbongeni Ndlela
MBABANE – Amid the fields of the Lubombo region, a new dawn is breaking for smallholder farmers, thanks to the strategic leadership of Eswatini Bank.
During a recent tour of LUSIP II projects, Agribusiness Manager Mazibuse Khumalo shared exciting insights that reveal a future rich in promise, growth, and resilience.
LUSIP II, a partnership between the Eswatini government and Eswatini Bank, is more than an irrigation project—it’s a powerful catalyst for economic empowerment. The bank’s E66.9 million investment has already turned 845 hectares of land into thriving agricultural hubs, supporting 390 workers and over 400 shareholders.
“We are building more than farms,” Khumalo said.
“We are building communities and fostering a culture of entrepreneurship.”
The tour showcased five vibrant farming entities—Vulematfuba Limited, Malabane Limited, Phusha Bhobo Limited, Vukusebente Limited, and Gugulethu Farmers. From sugarcane to bananas, these projects have become models of productivity, collectively achieving a turnover of E37 million and paying out E4 million in dividends to shareholders.
Notably, Eswatini Bank’s focus extends beyond financing. As Khumalo explained, the bank’s vision includes climate-smart initiatives to help farmers weather challenges such as erratic rainfall and soaring input costs. The bank is advancing efforts to equip farmers with solar energy systems, and its push for Green Climate Fund accreditation underlines its commitment to environmental stewardship.
In his remarks, Khumalo celebrated the triumphs of LUSIP I, where 10 sugarcane ventures fully repaid their loans, highlighting a culture of trust and collaboration that guides the bank’s approach. “We believe in our farmers and stand by them,” he said.
This collaborative spirit also shapes the bank’s innovative credit guarantee programs, offering loans with favorable terms to help even the smallest start-ups take root and flourish. From the EADF to the Centre for Finance Inclusion, these programs ensure that farmers’ dreams can become a reality.
Yet challenges remain—contractor compliance delays and climate variability test even the best-prepared farmers. But Khumalo’s optimism was palpable: “We never distance ourselves from clients facing difficulties; we work together to find sustainable solutions.”
As the visit concluded, one message rang clear: Eswatini Bank is more than a lender—it’s a partner in progress, helping farmers harness the power of agriculture to uplift communities and transform the nation.
With each loan disbursed and each field sown, Eswatini Bank is nurturing not just crops, but a vibrant, resilient future for Eswatini.
