Times Of Swaziland: E54.4M DISBURSED UNDER MSMES REVOLVING FUND

E54.4M DISBURSED UNDER MSMES REVOLVING FUND
================================================================================
Nhlanganiso Mkhonta on 03/11/2024 07:53:00


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.