… NEED TO BOLSTER LOCAL REVENUE COLLECTION EFFORT

EZULWINI - The recent decline in SACU receipts has emphasised the need for Eswatini to bolster local revenue collection efforts.

The Minister for Finance, Neal Rijkenberg, said Customs plays a pivotal role in this regard, contributing significantly to the country’s fiscal stability and long-term economic resilience. The minister recently announced that the Southern African Customs Union (SACU) receipts for the 2025/26 fiscal year would be E10.4 billion, a 20.4 per cent decrease from the previous year. This decline is due to lower-than-expected collections in the Common Revenue Pool (CRP) during the 2023/24 fiscal year.

Modernisation

He said through modernisation, digitalisation and strategic partnerships, Eswatini Revenue Service (ERS) has demonstrated its ability to adapt to these challenges and position Eswatini for sustainable economic growth.
Meanwhile, the Minister for Commerce, Industry and Trade Manqoba Khumalo called upon all stakeholders to pursue efficiency – by remaining relevant, security – by promoting and supporting compliance and prosperity by implementing client-friendly policies and procedures that contribute to a conducive trade environment for the continued growth of our economy.

Khumalo also encouraged businesses to make use of his ministry as well as the ERS to get information about the measures they can take to minimise the cost of obtaining production inputs as well as enter markets with lower prices.

Markets

He said access to the markets is through the benefit of preferential duty rates offered when one sources inputs or sells products in the countries that are Eswatini’s trading partners in the negotiated trade agreements. The minister highlighted that to ensure business prosperity, there are a number of supportive measures designed to assist businesses in these aspects.

He said for instance, there is support towards harmonisation in the implementation of standards for local products to meet international standards so they can be competitive in global markets. He stated that they enable businesses to formalise their operations through incubation programmes which assist businesses to build their acumen and operational capacity to a point where they can expand their operations to the level of trading internationally.

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