BY MFANUFIKILE KHATHWANE
EZULWINI– The Industrial Development Company of Eswatini (IDCE) has declared dividends amounting to more than E14.8 million for the financial year ended 30 June 2025, marking a significant milestone that reflects the company’s strong financial performance and sustained growth over the past three years.
The dividend declaration was celebrated on Thursday, 18 December 2025, at Happy Valley Hotel in Ezulwini, bringing together shareholders and key stakeholders to acknowledge the company’s turnaround and renewed momentum.
Addressing the gathering, Minister of Finance Hon. Neal Rijkenberg described the dividend announcement as a powerful indicator of IDCE’s stability and relevance to national development.
“This dividend declaration is more than a financial achievement; it is a clear signal that IDCE has firmly positioned itself on a path of sustainable growth, resilience and relevance to the national development agenda,” Rijkenberg said.
He noted that the company’s ability to declare dividends followed a period of disciplined governance and sound financial management. Importantly, he emphasised that the turnaround had been achieved without requiring additional capital injections from shareholders.
“The strong financial recovery reflects prudent management and the collective efforts of a committed and capable team,” he added.
IDCE Board Chairperson Dumisani Kunene highlighted the scale of the company’s growth, pointing to a significant increase in assets and profitability.
“Total assets grew from E1.1 billion in 2023 to E1.8 billion at group level in 2025,” Kunene said. “Net income for the period amounted to E103 million at group level and E73 million at company level. This performance provides a solid foundation to reward shareholders while continuing to drive industrialisation and job creation.”
Minister of Commerce, Industry and Trade Manqoba Khumalo echoed these sentiments, describing the dividend declaration as evidence of a decisive turnaround for the development finance institution.
“This achievement confirms that IDCE has regained stability while remaining faithful to its development mandate,” Khumalo said. “The revitalisation of factory shells and the attraction of companies relocating from South Africa have already translated into meaningful jobs for our people.”
Both ministers underscored that IDCE’s performance demonstrates that development finance institutions can successfully balance commercial discipline with developmental objectives. Minister Rijkenberg noted that the positive trend affirms the viability of institutions that pursue national development goals while maintaining strong financial controls.
Looking ahead, Minister Khumalo encouraged the Board and management to sustain the current momentum, strengthen risk management practices and continue focusing on industrialisation, manufacturing and export substitution.
“Government will continue to support IDCE as it deepens its contribution to industrial development and job creation,” he said.
From the total dividend declared, the Eswatini Government received E5 091 124.39 million, the Eswatini National Provident Fund (ENPF) received E9 024 181.85, while Nedbank received E225 786.63 and Standard Bank Limited received E223 786.63.
The declaration of over E14 million in dividends marks a moment of pride for shareholders, management and staff, signalling a new chapter of growth, stronger partnerships and economic transformation for the Kingdom of Eswatini.
