BY GCWALISILE MHLABANE
MANZINI – Small and medium enterprises (SMEs) are set to benefit from more flexible lending, improved merchant services and stronger engagement as FNB Eswatini moves to enhance its support for entrepreneurs and respond to their evolving business needs.
FNB Eswatini CEO Thokozani ‘TK’ Dlamini says the bank is committed to enhancing its products and services to provide SMEs with greater support as they seek to grow their businesses.
Dlamini said FNB Eswatini had listened to entrepreneurs’ concerns and was already working on several improvements requested by customers, including more flexible access to loans, more agile Speedpoint devices and continued engagement with the SME sector.
“Our customers have told us that they need our merchant devices to be more agile. They have also asked us to continue with client engagement initiatives to gain a deeper understanding of the support they require and have also requested that we expand access to our loan services,” Dlamini said.
The CEO was speaking during the Manzini leg of FNB Eswatini’s SME Growth Forums, which brought together more than 80 SME owners from the region to engage the bank on challenges, opportunities and the support they need to grow their businesses.
Dlamini assured entrepreneurs that their concerns were being taken seriously, revealing that most of the solutions requested were already being enhanced or implemented by the bank.
“We have heard these submissions, and I am happy to share that a majority of what our customers are asking from us are solutions we are already working on enhancing and implementing,” he said.
He said the SME Growth Forums were created to bring the bank closer to entrepreneurs and ensure that its products and services were shaped by the realities businesses face.
“The idea behind establishing the SME Growth Forums was to create a deeper connection with entrepreneurs, ensuring that we hear directly from them and develop solutions that respond to their needs,” Dlamini said.
The commitment comes as SMEs continue to play an important role in economic activity, job creation and livelihoods, while entrepreneurs seek easier access to finance and practical tools to manage and expand their businesses.
FNB Eswatini SME Lead Nombuso Mndzebele said the bank’s Automated Scored Lending solution was making it easier for qualifying SMEs to access funding through a simplified application process.
Introduced in 2023, the facility has already benefited more than 1 500 SMEs, while the maximum lending limit has increased from E250 000 to E1.5 million.
“Many of you have already experienced some of the ways we are changing how we support SMEs. Our Automated Scored Lending solution has enabled us to approve funding faster and with far less paperwork than before,” Mndzebele said.
She said the increased lending limit demonstrated the bank’s confidence in entrepreneurs’ ability to grow their businesses, create employment and contribute to economic development.
“We believe that when entrepreneurs are given the right opportunities, they grow, create jobs, and strengthen our economy,” she said.
For Matsapha-based entrepreneur and owner of Zambie Mobile, Zambie Dube, the lending facility has already delivered tangible benefits.
“FNB helped me buy a vehicle through the Scored Lending solution and I am very grateful. I look forward to using the facility to expand my operations,” Dube said.
Meanwhile, fellow Matsapha entrepreneur Melusi Dlamini praised FNB’s Business Toolkit, saying it had helped him improve his business’s financial management.
The toolkit offers business plan templates, cash flow forecasting tools and financial calculators designed to assist SMEs with record-keeping, financial discipline, tax planning and savings.
“I particularly like the toolkit because it enables businesses to keep detailed records of income and expenses, helping us identify problems early and avoid surprises. It also helps us calculate and set aside funds for taxes and savings, which is very useful,” he said.
The forum was hosted in partnership with the Small Enterprises Development Company (SEDCO) and Eswatini Revenue Service (ERS), bringing together institutions that provide business development and compliance support.
SEDCO Business Incubation Centre Manager Zakhele Masuku said the organisation assists entrepreneurs from start-up to growth through incubation, training, mentorship and business coaching.
ERS Manager for Taxpayer Education and Information Cebolenkhosi Mahlalela urged business owners to ensure their profiles were accurately registered and regularly updated.
She also highlighted TaxEase, an online platform designed to simplify tax compliance, while noting that ERS service centres remain available for entrepreneurs who prefer face-to-face assistance.
Keynote speaker and founder of Eswatini Radiology Services, Dr Mbongeni Dlamini, encouraged entrepreneurs to pursue strategic partnerships that could open doors to new opportunities.
He said his relationship with FNB Eswatini had helped him diversify from medicine into commercial agriculture, demonstrating the value of financial institutions offering more than traditional banking services.
“Meaningful growth comes from exploring opportunities beyond one’s area of expertise. My relationship with FNB has helped me venture into agriculture on a large scale. Beyond financing, the bank has provided valuable business advice and solutions to grow my business,” he said.
“A financial institution should offer more than banking services, and FNB has helped unlock my business potential.”
The final leg of the SME Growth Forums will be held at Phumula Guest House in Nhlangano, Shiselweni Region, on Monday.
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