Times Of Swaziland: E15M BOOST FOR MSMEs THROUGH RENEWABLE ENERGY

E15M BOOST FOR MSMEs THROUGH RENEWABLE ENERGY
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Nhlanganiso Mkhonta on 18/03/2025 08:06:00


MBABANE – The European Union (EU) has injected E15 million (€820 000) into
Eswatini’s renewable energy sector through the Catalysing Renewable Energy
Access and Transition in Eswatini (CREATE) project.
This is a four-year initiative aimed at supporting micro, small and medium
enterprises (MSMEs) in adopting renewable energy solutions.
Announcing the funding at a grant signing ceremony yesterday, EU Ambassador to
Eswatini Karsten Mecklenburg said the investment reflects the EU’s commitment
to sustainable energy, inclusive economic growth and financial access for local
businesses.
Testament
“This initiative is a testament to our dedication to supporting Eswatini’s
transition to clean energy, while enhancing economic resilience,” Mecklenburg
stated.
The CREATE Project, spearheaded by the United Nations Development Programme
(UNDP) in partnership with Government of Eswatini and Catalyse Eswatini, will
focus on reducing energy costs for MSMEs, improving financial access and
ensuring that at least 40 per cent of supported businesses are women-led.
Energy affordability remains a major hurdle for Eswatini’s MSMEs, with high
electricity costs limiting growth and competitiveness. Minister for Economic
Planning and Development, Dr Thambo Gina, highlighted the crucial role of
renewable energy in the country’s development plans.
“The National Development Plan 2023-2028 envisions at least 50 per cent of
Eswatini’s energy mix coming from renewable sources by 2030. CREATE aligns
perfectly with this goal by helping businesses transition to cleaner and more
efficient energy solutions,” Dr Gina said.
According to UNDP Resident Representative Henrik Franklin, the project is more
than just an energy initiative—it’s an economic empowerment strategy.
“CREATE will provide MSMEs with financing, technology, and expertise to
transition to clean energy. It will break down barriers that have long prevented
small businesses from accessing affordable and reliable power,” Franklin said.
He added that Eswatini’s businesses must embrace clean energy not just as an
environmental move, but as a competitive advantage. “Global markets are
increasingly prioritising low-emission products. If we do not act now,
Eswatini’s businesses risk losing their competitive edge,” he warned.
Component
A key component of the CREATE Project is its focus on gender inclusion, ensuring
that women entrepreneurs are at the forefront of the energy transition.
“Women-led MSMEs will receive targeted support, including access to finance,
technology and mentorship programmes. When women entrepreneurs thrive, entire
communities benefit through job creation and economic growth,” Franklin
emphasised.
Success
The success of the CREATE project relies on the active involvement of financial
institutions, policymakers and business owners. The project will collaborate
with banks to develop innovative financing models that make renewable energy
adoption more accessible for MSMEs. Mecklenburg encouraged local businesses to
take full advantage of this opportunity. “CREATE is not just a project—it is
a movement that will reshape Eswatini’s economic landscape. Businesses must
seize this chance to integrate clean energy into their operations,” he urged.
The signing ceremony marked the beginning of implementation efforts, with
consultations and capacity-building workshops for MSMEs expected to roll out in
the coming months.
As Eswatini moves towards a low-carbon future, CREATE is set to play a pivotal
role in ensuring that local businesses remain competitive, sustainable, and
financially empowered in the renewable energy era.