E5M TRADE HUB FOR SMES COMING SOON

MBABANE – The Kingdom of Eswatini has secured E5 million funding for the construction of a Trade Hub to accommodate 250 SMEs.

This was disclosed by Small and Medium Enterprises (SME) Director at the Ministry of Commerce, Industry and Trade Mluleki Dlamini during presentation of the draft SME policy at Royal Villas yesterday.

He said the ultimate objective of the trade hub to be constructed next to Satellite Bus Rank in Manzini was to provide decent working conditions for SMEs.

He said the structure, whose drawing plans are still being finalised, would accommodate about 2 000 SMEs when it has been completed. He explained that the secured funding was only for the first phase where 250 SMEs would be accommodated.
“Plans are on course to commence construction when drawing plans and other logistics have been finalised. We are confident that this facility will help encourage more people to open businesses and improve the revenue of businesses currently operating in open spaces,” said Dlamini.

Asked what criterion would be used to determine who would be eligible to utilise the structure, Dlamini said it would be offered to all interested persons on a rotational basis to ensure that everyone gets a fair chance to use the accommodation.   
For entrepreneurial activity to translate into economic growth in the country, it was advised on the need to focus less on the ‘start’ and ‘small’ side of things and more on how those companies of all ages, sizes and sectors with regards to scalability.

Southern African Research Foundation for Economic Development (SARFED) Regional Coordinator George Choongwa said that was because past trends on business landscape in the kingdom has seen resources been employed towards the promotion of business start ups which unfortunately within two years collapsed.

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