Times Of Swaziland: BUFE TO INJECT NEW IMPETUS INTO MSMES SECTOR - BE

BUFE TO INJECT NEW IMPETUS INTO MSMES SECTOR - BE
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Nhlanganiso Mkhonta on 11/10/2024 08:15:00


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.