BY PHUMELELE GAMEDZE
MBABANE– Four local textile and clothing businesses have received a major boost after sharing E550 000 worth of production equipment and interest-free financing under Government’s Production Incentive Scheme (PIS) 2.0.
The support is aimed at helping the small businesses increase production, improve competitiveness and position themselves for further growth in Eswatini’s textile and clothing industry.
The beneficiaries are Express Textile Mills, Thuli’s Bridal Centre, V&M Creations and Amandla Dressmaking, which received production equipment valued at a combined E350 000 through the grant component of the programme.
Another E200 000 in interest-free loans has been disbursed to local MSMEs over the past 12 months, giving businesses access to affordable capital to expand operations, increase output and respond to growing demand.
Minister of Commerce, Industry and Trade Manqoba Khumalo met beneficiaries at the Eswatini National Industrial Development Corporation (ENIDC) offices, where he heard directly how the assistance was contributing to their day-to-day operations.
For small businesses, where the cost of machinery and financing can determine whether an enterprise remains small or grows into a sustainable operation, the intervention provides more than equipment. It gives entrepreneurs an opportunity to produce more efficiently, improve the quality of their products and pursue larger markets.
The PIS 2.0 is implemented by the Ministry of Commerce, Industry and Trade in partnership with ENIDC and is specifically designed to improve the competitiveness of enterprises operating in the textile and clothing sector by providing access to modern equipment and affordable financing.
During his interaction with the businesses, Khumalo listened to their experiences and the challenges they continue to face, while also assessing how the support has affected production.
He encouraged beneficiaries to make maximum use of the opportunity by increasing productivity, maintaining high quality standards and identifying opportunities to grow their businesses.
The minister stressed the importance of developing stronger local enterprises, particularly because successful MSMEs have the potential to create employment, strengthen domestic industries and contribute towards sustainable economic growth.
For the four businesses, the injection comes at an important stage of their development. Access to better machinery can improve turnaround times and production capacity, while interest-free financing eases one of the biggest pressures confronting growing businesses — the cost of capital.
The E550 000 intervention therefore represents a direct investment in local entrepreneurship and production, with Government seeking to equip MSMEs with the tools they need to make a bigger contribution to the economy.
The next test for the beneficiaries will be turning the new equipment and financial support into increased production, stronger businesses and, ultimately, more employment opportunities for EmaSwati.
(Courtesy Pic)
