BY TANDZILE DLAMINI
MANZINI – The growing wave of tetfulo being presented to King Mswati III is emerging as a strong indicator of a business sector that has found its footing again following the 2021 civil unrest.
Business leaders say the increase in both the volume and value of traditional gifts reflects more than cultural appreciation – it signals renewed confidence in the economy and recognition of the King’s role in stabilising it during one of the country’s most difficult periods.
Among those highlighting this trend is Lincoln Motsa, Managing Director of Linac Investments, operators of the OK Foods franchise in Eswatini. He pointed to the recent Ruby Double Celebration (40/58), where tetfulo presented to the King exceeded E18 million in cash and 251 cattle, as clear evidence of a resurgent private sector.
Lincoln Motsa said the King’s intervention came at a decisive moment when many businesses were on the verge of collapse. He noted that his own outlets, which were affected by arson during the unrest, were among those rescued by the Fund, describing it as a critical lifeline that preserved jobs and enabled a swift recovery, which is still ongoing. He added that the establishment of the Reconstruction Fund also restored confidence among financial institutions, encouraging them to come on board and support struggling businesses.
He further explained that the Fund made it possible for businesses to reopen and steadily rebuild. With operations now stabilising, he said business owners see it as important to show appreciation to the King for initiating a programme that was central to their ongoing recovery. Without that intervention, he stressed, many businesses would not have survived.
Launched in September 2021, the Reconstruction Fund was introduced in response to widespread destruction during the June and July unrest, where businesses suffered losses initially estimated at about E3 billion, later revised to approximately E800 million.
Seeded by His Majesty and strengthened through partnerships – including a E330 million contribution from Taiwan and support from local financial institutions – the fund provided compensation grants of up to 60 percent of damages. By mid-2023, over E230 million had been disbursed to more than 420 businesses, helping them rebuild, restock and resume operations.
Motsa said the rise in tetfulo should be understood as a reflection of this recovery.
“This is more than just a cultural practice. It shows that businesses have recovered and are now in a position to give back. It is a sign of resilience and appreciation,” he said.
As economic activity continues to strengthen, business leaders say the gesture of giving carries a deeper meaning – marking a journey from loss to recovery, and reinforcing confidence in a stable and growing economy under His Majesty’s leadership.
