PRIVATE SECTOR MUST LEAD ECONOMIC GROWTH-UN

MBABANE – The United Nations (UN) has urged Eswatini’s private sector to take a leading role in accelerating sustainable development.

The UN emphasised that the country’s challenges require collective action from both businesses and development partners. Speaking at the UN-private sector engagement on the United Nations Sustainable Development Cooperation Framework (UNCF) 2026-2030, UN Resident Coordinator George Wachira stressed the importance of re-imagining development approaches in response to global crises.

He outlined key areas where the private sector could drive impact, particularly through innovation, investment and strategic partnerships. “The challenges we face today are simply too large for any actor to tackle alone,” Wachira said. “The private sector is not just an engine of economic growth; it is a catalyst for transformation.

Funding

You drive innovation, deploy cutting-edge technologies, build skills, continuously improve efficiency, lift people out of poverty, and make money out of it.” The UN has been transitioning from a donor role to that of a cooperation partner, aligning with Eswatini’s middle-income status. Wachira explained that UN support is increasingly catalytic, aimed at leveraging other funding sources such as development banks, capital markets and philanthropic foundations.

“In our context, UN funding serves to unlock additional resources, including from government and the private sector,” he said. “We also leverage our global expertise, ability to convene diverse actors and strategic policy advice to support sustainable development.”

  Over the years, the UN has supported key national policies and initiatives, including the African Continental Free Trade Agreement (AfCFTA), MSME development, climate change adaptation strategies and the ongoing National Education Reform. Wachira reaffirmed the UN’s commitment to human rights, labour rights and creating a conducive policy environment for private sector growth.

He also highlighted the SDG Investor Maps initiative, which has identified 14 investment opportunities in Eswatini, particularly in food and beverage, renewable energy and infrastructure. This initiative provides key market intelligence and directs private capital to high-impact areas.

Development

With only five years left to achieve the 2030 Sustainable Development Goals (SDGs), Wachira emphasised the urgency of collaborative action. He noted that while some progress had been made, recent global crises—including economic inequalities, climate change and the impact of artificial intelligence—require bold new approaches.
“The current global turbulence has been termed a ‘polycrisis,’ referring to a convergence of crises across multiple dimensions,” he said.  “But as Winston Churchill once said, we should never let a good crisis go to waste. 

There is an opportunity to do things differently, to re-imagine development, and to accelerate sustainable growth.”  Wachira closed his remarks by extending an invitation to the private sector for deeper engagement with the SDGs, emphasising that innovation and imagination will be key to unlocking sustainable development solutions. “As Albert Einstein said, ‘Imagination is more important than knowledge,” Wachira stated.

“With the right imagination, we can find the means, including resources, to accelerate sustainable development.”  The meeting set the stage for strengthened collaboration between the UN and Eswatini’s private sector, reinforcing that shared prosperity is only possible through strategic partnerships and investment in sustainable solutions.

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