Times Of Swaziland: BUSINESSES CLOSE, LOSE OVER E11M

BUSINESSES CLOSE, LOSE OVER E11M
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Sithembile Hlatshwayo and Mhlengi Magongo on 30/06/2022 08:32:00


MBABANE – Business Eswatini yesterday conducted firsthand assessments of the
‘restraint’ experienced yesterday.
A majority of businesses were closed due to fears of attacks which slightly
affected the Gross Domestic Product (GDP) of the country. When businesses halt
operations, GDP decreases. An estimated E11 780 821.90 was lost by businesses
yesterday for halting operations. This was mentioned by an economist who
preferred to comment anonymously. He said this was due to the fact that there
was less money movement in the country yesterday especially in retail and
wholesale. He said yesterday’s situation differed from that of a national
holiday identified in the country. “When it’s an official holiday,
businesses are not affected because trade is halted compared to today
(yesterday) when it is a normal working day,” he said.
The business desk also noted that the hospitality industry was affected by the
restraint as events scheduled for yesterday were cancelled. These include
conference meetings, forums and other outdoor events. Service providers also
closed shops which resulted to a loss in profit. Business Eswatini Chief
Executive Officer (CEO) Nathi Dlamini yesterday conducted assessments of the
situation following that political formations in the country had declared the
day a public holiday to honour the ‘fallen heroes’ and victims of the June
29, 2021 unrest.
Dlamini’s day started on a downbeat as he had to walk for over eight
kilometres from his place of abode in Manzini to the bus rank, where he was to
board public transport. This was a deliberate move by the CEO as he was on a
mission to compile a report based on his own assessment on the activities of the
day. “I was getting conflicting reports on social media. Therefore, I was
reporting to all Business Eswatini members along the way.”
Witness
Dlamini stated that he was on an assignment to give a live feed to the business
community to witness his experiences on the activities of the day on who was
closed and who was working. Following the confusing information received on
social media, Dlamini said he was obligated to conduct a firsthand assessment
himself.  “I went through the buses and shops, now I am in Mbabane and
boarding back to Manzini.” He said the main thrust of using public transport
was based on the fact that most employees used it when going to work, hence his
assignment to get firsthand experience on issues of mobility.
When questioned what his findings were on the situation, the CEO said what he
had discovered so far was that activity was subdued although there appeared to
be restraint so far. “My impression is that activity is quite subdued,
especially the Mbabane and Manzini corridor.” He said they were thankful that
everyone seemed to be practising restraint, although it was still early in the
day and would see what unfolds later on. Dlamini said he was making a nice
experience out of the situation, although it was not easy. “Having to walk
eight kilometres was not easy and I was tired but had to fulfil my mission,”
Dlamini said. He said the feeder transport to the main bus station were not
available.