... ESWATINIBANK TO FINANCE ALL ENTERPRISES

MBABANE – EswatiniBank said it was ready to finance all sugar cane production enterprises as it has a mandate to develop all emaSwati through financial services and credit extension.

EswatiniBank has introduced funding for enterprises that are involved in farming. This was mentioned by the bank’s Agri-business manager Mazibuse Khumalo during the horticulture innovation platform at Royal Villas. Khumalo said the type of businesses financed by the bank included all start-up businesses, sugar cane production enterprises and crop enterprises. The banker said market prices were not increasing at the rate at which the input costs were increasing. 

 “Policy option is clearly necessary to mitigate this challenge and expanding credit access for farmers remains imperative,” he said. He added that financial institutions should be open to engaging with struggling enterprises and have flexible loan repayment options. He said the funding opportunity was divided in two aspects which include the Export Credit Guarantee (ECG) and Small Scale Enterprise Loan Guarantee Scheme (SSELG). The ECG Provides security for credit facilities granted to eligible exporting enterprises. He said the maximum credit offered in ECG should not exceed E3.3 million and the guarantee was 90 per cent of the order to be financed.

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