MTN WANTS CROSS-BORDER TRANSACTIONS

EZULWINI - MTN Eswatini wants its customers to be able to send and receive money from South Africa without the use of banks.

This idea was shared by MTN Eswatini CEO Wandile Mtshali, yesterday during the business breakfast meeting organised by the South African High Commission at Royal Villas to promote trade and investment with local CEOs at Royal Villas. Mtshali stated that they were looking for a way to allow their customers to send and receive money from South Africa without requiring any type of banking transaction. The CEO added that investment in energy provision and stability was imperative between the two countries because of connectivity.

“Proper connectivity for businesses is important, therefore, the need to invest in energy to stabilise it can enhance efficiency,” he said. With the issue of electricity in South Africa, it was noted that the drop in consumer spending affected Eswatini as well. This was outlined by the Minister of Commerce, Industry and Trade, Manqoba Khumalo, who said local factories exporting to South Africa had to reduce production volumes.

He said textiles firms were faced with layoffs as the companies they supply in South Africa were decreasing their orders, which in turn created trade barriers in the country. Khumalo added that Eswatini had the AfCFTA, which was being rolled out across Africa to enable the free movement of goods within the continent. However, the objectives of SACU are challenged by the AfCFTA, and we need to expedite the discussion around the alignment of SACU with the AfCFTA to further promote and enhance trade between our countries.

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