THE DEATH OF ‘SWAZI CAPITALISM’

Madam,

When King Sobhuza II lent his support to the establishment of the Swaziland Commercial Amadoda, what he and the indigenous entrepreneurs of the time envisaged, was an economy in which any liSwati with the right vision and requisite drive and commitment, should be able to plough his trade, in a competitive and fair economic environment. The establishment of this organisation of indigenous entrepreneurs saw the birth of the unique idea of ‘Swazi Capitalism’.

Capitalism

A system of economic activity, though similar in nature to regular capitalism, albeit with its own unique characteristics and identifiers. Chief among these was the absence of monopolistic, anti-competitive and conglomeratic behaviour in the economy. In the days of old, ‘senior’ entrepreneurs were eager to lend a helping hand to those starting out. It was not uncommon for competitors, in the spirit of entrepreneurial camaraderie, to lend support to each other. Given the sizes of our economy and population, there is enough for everybody. It is, therefore, unfortunate to observe that the economy is now firmly in the hands of a cabal of individuals, who have decided in smoky back-room deals, that they will entrench themselves in every sector of the economy, leaving nothing for anybody else.  For evidence of this, one simply needs to glance at the media, transportation, construction, waste management and other sectors of the economy.

Prospects

This aggressive, greed-fuelled monopolisation does not bode well for the future economic prospects of the country. Monopolisation has a top-down, trickling effect; with large companies increasingly being owned by the same group of people, so will the companies that supply them with goods and services, arresting competition and further entrenching monopolisation throughout value and supply chains. This unfortunately, advances the interests of white people, over emaSwati, as the services industry is dominated by whites.“The last man standing in an industry is not the winner, he is the last loser.”

Post your comment

Your name:

Your e-mail address:

Add your comments:

Please enter the code you see in the image:

Image:

Code: