BY MBONO MDLULI
LOBAMBA – Two more loans amounting to US$ 95 million (about E1.7 billion) for payment of suppliers are coming.
This was said by Minister of Finance Neal Rijkenberg on May 28, 2025 at Senate. He was motivating senators to consider and pass the International Bank for Reconstruction and Development (Fiscal Management and Competitiveness Development Policy) Loan Bill (Bill No. 12), 2025.
This Loan Bill is meant to enable Minister of Finance Neal Rijkenberg to raise an amount of US$100 million (about E1.8 billion) from the International Bank for Reconstruction and Development. This money will be used to pay Government suppliers, as they have not been paid for far too long now.
Senators supported the minister and stated that it should pass because it would stimulate the economy of the country. Senators Ndumiso Mdluli (Senate Deputy President), Prince Mphatfwa, and Princess Ncengencenge are the ones who made submission on this Loan Bill. They expressed concerns that the suppliers had not been paid for far too long now. They noted that such a state of affairs affected many people, as they lost jobs.
Minister Rijkenberg also thanked the senators for support, stating that such Loan Bills were meant to improve the country’s economy. The country would be able to pay the loan back because it would have increased the country’s tax base. He then mentioned that two Loan Bills were coming, one of which was for US$45 million, with the other one being for US$50 million and all of them were meant to pay the arrears owed to suppliers.
The minister pleaded for support from the legislators, regarding these Loan Bills. He said Government wanted to get rid of all debts to suppliers because this was bad for business. He said Government was able to reduce the debts from about E6 billion to E2 billion now. He had no doubt that the two Loan Bills would be able to pay all of these debts.
