HARARE, ZIMBABWE – His Majesty King Mswati III has told the SADC leaders that plans to establish the SADC University of Transformation in the Kingdom were at the advanced stage.
The King said this during the 44th SADC Summit when appreciating the USD 180 000 (approximately E3.4m) set aside by SADC as budget support for the university.
He said the establishment of the university is central to the summit’s theme of “Promoting Innovation to unlock opportunities for sustainable growth and development towards an industrialised SADC.”
“Innovation is the engine of long-term economic growth, driving productivity and competitiveness, which are essential for the prosperity of our region. For us to harness the full potential of innovation, it is crucial to involve research institutions, universities and centres of excellence to package viable and sustainable projects.
“Unlocking these opportunities will attract good funding and investment in generating the knowledge and solutions needed to drive our industrialisation agenda forward,” His Majesty the King said.
He said it was therefore critical that they speed up the development of the SADC University of Transformation if they were to realise innovation in the region.
“The Kingdom of Eswatini reaffirms its unwavering commitment to hosting the university and preparations have begun in earnest. We are grateful that SADC has set aside a budget of USD 180 000 to kick-start this process,” he said.
The King said human capital development is a critical pillar for the sustained growth and development of the region.
He said the Kingdom has over the years encouraged and supported innovation and human capital through empowering the youth at schools in entrepreneurship.
“Such programmes are executed by government in partnership with partners such as Junior Achievement Eswatini.
“A week ago, we had an Entrepreneur of the Year ceremony where we awarded those businesses that have done well and are innovative. A young entrepreneur was crowned for the exceptional work he does in the areas of geographic information systems and he conceived this business idea when he was still at high school,” he said.
His Majesty said youth unemployment is still one of the most pressing challenges facing the region.
The King said with a significant percentage of the population under the age of 35, it is imperative that the region create opportunities for young people to engage in productive and meaningful work.
“Innovation and entrepreneurship must be at the forefront of our efforts to tackle this issue by supporting start-ups, fostering an entrepreneurial culture and providing access to finance and mentorship. This will empower our youth to become job creators rather than job seekers,” the King said.
His Majesty said Eswatini is actively pursuing SADC goals aimed at addressing youth unemployment through programs and establishing local youth funds that will help them start their own businesses.
“Our Royal Science and Technology Park (RSTP) also provides business training and incubation to nurture their creative business ideas. All these initiatives will not only reduce unemployment but also drive economic growth and social stability across the region,” he said.
