E54.4M DISBURSED UNDER MSMES REVOLVING FUND

MBABANE – Efforts to bolster the MSME sector continue, with the E45 million Micro, Small, and Medium Enterprises Revolving Fund supporting both businesses affected by COVID-19 and start-ups.

As of September 2024, loans totalling E54.5 million have been disbursed across sectors like distribution and tourism, agriculture and manufacturing; creating 27 new jobs, bringing the total to 3 084.

Implementation

Through the 2nd quarter report, the Minister of Commerce, Industry and Trade, Manqoba Khumalo, indicated that, the implementation of the Citizen Economic Empowerment Bill is underway. Khumalo said that in July 2023, the Citizen Economic Empowerment (CEE) Council was established and currently being equipped to fulfil its mandate effectively. He mentioned that the Council and the United Nations Development Programme (UNDP), will undertake a benchmarking mission to the Citizen Entrepreneurial Development Agency in Botswana.
He said this mission aims to gain insights into implementing empowerment programmes, particularly regarding preferential procurement and foreign direct investment (FDI). He said the Council’s term is set for three years, facilitating a targeted approach to economic development and empowerment.

Pusiness dinner

Furthermore, in the context of Micro, Small, and Medium Enterprises (MSMEs), the Ministry appreciates Their Majesties’ attendance at the Shiselweni business dinner in Nhlangano.
This annual event has become a vital platform, facilitating knowledge sharing among key stakeholders in the business ecosystem. Such interactions promote expansion and the adoption of best practices in direct investment, ultimately strengthening the economic landscape.

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