By Mbono Mdluli
MBABANE – The Eswatini Government is exploring multiple funding mechanisms to finance its ambitious E223-billion ‘Nkwe’ Plan of Action (PoA). The Plan outlines transformative policy strategies aimed at national development, but securing the necessary resources for its implementation remains a top priority.
Funding Mechanisms
The government has identified five key funding mechanisms to support the PoA:
Borrowing: Seeking loans to supplement funding.
Partial Privatisation of State-Owned Enterprises (SOEs): Unlocking value by involving private investors in SOEs.
Development Partner Assistance (DPA): Collaborating with international partners for financial aid.
Bilateral Investment: Attracting investments through country-to-country agreements.
Public-Private Partnership (PPP)-Oriented Foreign Direct Investment (FDI): Leveraging partnerships with private entities for large-scale projects.
A National Resource Mobilisation Strategy will be defined to ensure the successful implementation of the PoA, focusing on resource allocation, fundraising, and stakeholder engagement.
Communication and Stakeholder Involvement
To ensure the PoA’s success, the Prime Minister’s Office (PMO) is tasked with developing a comprehensive communication and marketing plan. The aim is to:
Create awareness of the PoA.
Foster a sense of ownership among stakeholders.
Build capacity to implement the plan effectively.
Ensure continuous improvement and alignment through ongoing engagement.
Monitoring and Evaluation
The government plans to implement a Monitoring, Evaluation, Accountability, and Learning (MEAL) Framework to track progress and enhance accountability. The framework will:
Guide reporting and evaluation processes.
Promote learning and the sharing of best practices.
Encourage corrective actions to address any shortcomings during implementation.
Risk Management
The government has identified two primary risks associated with the PoA and outlined mitigation strategies:
Stakeholder Buy-In:
Risk: Lack of stakeholder ownership and support.
Mitigation: Robust workshops and continuous engagement led by the PMO and the National Policy and Programme Coordinating Unit (PPCU).
Funding Availability:
Risk: Insufficient funding for transformational initiatives.
Mitigation: A robust resource mobilisation strategy developed in collaboration with the PMO, PPCU, Ministry of Economic Planning and Development, Ministry of Finance, public enterprises, private sector organisations, and development partners.
Conclusion
The ‘Nkwe’ Plan of Action represents a bold vision for Eswatini’s future, but its success will rely on effective resource mobilisation, stakeholder engagement, and stringent monitoring. By addressing risks and fostering collaboration, the government aims to turn this ambitious plan into a reality, driving the nation’s development forward.