BUFE TO INJECT NEW IMPETUS INTO MSMES SECTOR - BE

MBABANE - The newly formed Business Federation of Eswatini (BUFE) has now initiated talks with BE for potential collaboration, aimed at leapfrogging the former’s traction in the market.
In a statement issued yesterday, Business Eswatini (BE) management said in instances where the two organisations visions happen to converge, the value of having both BE and BUFE work collaboratively cannot be overstated. “While Business Eswatini has long been the voice of the private sector, BUFE’s emergence provides an opportunity to inject new impetus into Eswatini’s small business sector,” read the statement. The recent meeting of the two organisations marked the very first time these two players have met face-to-face since BUFE’s recent formation. BE said, however, it was not lost on BE that the executive members of the new organisation used to be office bearers in the Federation of Eswatini Business Community (FESBC).

While the meeting was convened as a meet-and-greet affair, BE took advantage of the opportunity to share, with the visitors, the long and illustrious history of BE by highlighting the peaks and troughs of the organisation and the periodic rebranding it has had to undergo, over the years. BE, with roots dating back to 1916, has long been the leading private sector organisation in the country.

Commerce

Formed, initially, as the Swaziland Chamber of Commerce over 100 years ago, it later took on the mandate of a Federation of Swaziland Employers in 1964. In 2003, the two corporate disciplines were inextricably amalgamated to produce what is today known as Business Eswatini; an apex business representative entity in the country.

Corporate

BE has played a pivotal role in promoting corporate governance, investment mobilization, trade facilitation and investor after-care in Eswatini. Its membership base has grown in leaps and bounds in recent years, to the degree that BE membership now represents around 90 per cent of the private sector GDP contribution in the country, spanning across over 22 business sectors. BE is a member of prominent international bodies such as the International Labour Organisation (ILO) to which they are affiliated as a delegate; and the International Organisation of Employers (IOE), and COMESA Business Council on which they sit on the Board of Directors, and many more. BUFE, on the other hand, has emerged with vision to carry on looking after the wellbeing of local businesses. In a presentation to BE, they pledged to look after the socio-economic interests of domestic businesses in Eswatini. While their formation may stem from a schism within the FESBC stable, its focus seems to be firmly steeped on building an inclusive and dynamic business environment.

The meeting between BE and BUFE was, therefore, a crucial step in trying to find an alignment of both organisations’ objectives, particularly in their perceived shared mission to improve the country’s economic landscape. The discussions centred on the need to create a collaborative platform, where both organisations can share insights and strategies to benefit businesses across all sectors. A key topic was the potential to jointly advocate for policies that would enhance the ease of doing business in Eswatini; attract foreign direct investment; and create sustainable jobs by bridging the gap between grassroots and big businesses in Eswatini.

Diverse

“By collaborating with BUFE, we are strengthening our capacity to represent the diverse interests of Eswatini’s business community,” said the Business Eswatini Chief Executive Officer (CEO) Nathi Dlamini. “Our combined efforts will ensure that businesses in the country operate in an environment conducive to growth, innovation, and sustainability,” said Dlamini.
The President of BUFE, Thulie Dladla, echoed these sentiments, stating, “We see this potential partnership as a way to amplify the voice of domestic business in Eswatini. Together, we can drive the kind of changes that will improve the overall business environment, foster healthy competition, and, ultimately, lead to a more prosperous Eswatini.” A number of proposals were made by BUFE to BE and BE made an undertaking to study them and then call another consultative meeting with BUFE in the next coming weeks.

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