BY SIFISO NHLABATSI
MBABANE – African Alliance Group Partner and Chairman S’thofeni Ginindza has urged local entrepreneurs to stop limiting their ambitions to the domestic market and instead build businesses and products that can compete in the SADC, African and global markets.
Ginindza was speaking during the Made in Eswatini Consumer Choice Awards held at Hilton Garden Inn Mbabane on Thursday night, where he received the Made in Eswatini Business Icon Award.
He said businesses should not build merely to satisfy local demand, but should ensure that their products and services meet international standards.
“When you build the little that you have, it should qualify to be of global standard,” Ginindza said.
He said this approach had guided African Alliance Group in its various investments, including financial services, property and retail.
Ginindza said African Alliance was established with an emphasis on investment banking, which he described as different from conventional commercial banking because it involves greater risk-taking, creativity and speed in providing funding.
He said the group had also been involved in educating Emaswati about investment opportunities, including the stock market.
“When we started our current African Alliance, we were the first company to offer unit trust,” he said.
Ginindza recalled that there had initially been doubts about whether Emaswati would understand the concept of investing in the stock market.
“We said, we’re going to educate and educate and educate,” he said.
He said the company now managed assets worth a few billion Emalangeni in Eswatini, attributing this partly to its efforts to transfer investment knowledge and improve understanding among Emaswati.
Ginindza said diversification had also been central to the group’s business strategy, with the company expanding into property and retail.
He cited Malkerns Square as an example of its investment in property, saying the development had transformed the shopping experience.
The businessman said the same principle applied to retail businesses, including Pick n Pay and KFC outlets operated by the group.
He said the group wanted its stores and products to meet standards comparable with those found in major international markets.
“When we took those stores, we said we want the stores to be the same as Walmart,” he said.
Ginindza said some of the group’s Pick n Pay stores and KFC outlets had subsequently received awards.
He further challenged local producers to supply products that could compete on quality rather than simply being accepted because they were locally produced.
He said the group wanted its growers and suppliers to come from Eswatini, but their products had to meet the standards expected in international markets.
“Our growers must come from Eswatini,” he said, adding that products on the shelves should be able to stand alongside those from other countries without consumers noticing a difference in quality.
Ginindza encouraged entrepreneurs to think beyond Eswatini when developing their businesses.
“Do not create it looking at the local market but think SADC, AU and EU and the global space,” he said.
He said entrepreneurs should identify a niche for their products and ensure that they were capable of meeting international standards.
His remarks came as the Made in Eswatini Consumer Choice Awards celebrated local businesses, brands, products, services and experiences recognised by consumers.
The awards were held under the theme “Imagine the Impact”, with the initiative seeking to promote consumer trust, visibility and market access for enterprises operating from Eswatini.
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