BY THEMBA ZWANE
MBABANE – Business Eswatini (BE) and the National Agricultural Marketing Board (NAMBOARD) have committed to a continued dialogue on the proposed 24% levy on imported edible oils, following a constructive engagement aimed at addressing industry concerns.
The meeting was convened in response to NAMBOARD’s announcement of the levy, which was initially scheduled to take effect on 1 September 2026. The proposal sparked widespread discussion among local businesses, particularly regarding its potential impact on operational costs and consumer prices.
During the meeting, BE presented a consolidated position from affected industry players, highlighting concerns over the adequacy of the consultation process prior to the announcement. The organisation also underscored the need to carefully assess the levy’s implications for business input costs and the ripple effects on household budgets, particularly in light of current economic pressures.
BE further stressed the importance of aligning protective measures with the realities of the local edible oils market. This includes differentiating between product categories where domestic production capacity exists and those where imports remain a necessary component of the supply chain.
In response, NAMBOARD shared insights into the regulatory challenges it faces under the current legislative framework. The board pointed to gaps that have enabled certain practices that undermine both fair competition and the broader objectives of agricultural development in the country.
Both institutions acknowledged the need to balance legitimate regulatory goals with the risk of unintended consequences for compliant businesses, consumers, and the overall competitiveness of the economy.
As a direct outcome of the discussions, BE and NAMBOARD agreed to hold further consultations in the coming weeks to explore viable and sustainable solutions. In the interim, the implementation of the 24% levy has been deferred from 1 September 2026 to 1 January 2027. This postponement is expected to provide businesses with additional preparation time and allow for more comprehensive engagement on the substantive issues raised.
Business Eswatini has welcome NAMBOARD’s openness to collaboration and reaffirmed its commitment to fostering constructive partnerships that support domestic industry growth, effective regulation, and the long-term interests of both businesses and consumers.
#BE #NAMBOARD #OIL #IMPORTLEVY #PROPOSAL #ESWATINI
