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BE identifies key reforms to boost competitiveness

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Business Eswatini’s Trade and Commerce Committee is chaired by Anthony Geldard (C), the organisation’s Vice President responsible for Trade and Commerce. The committee provides strategic guidance to the BE Board on matters affecting trade, industry, taxation and the broader business environment. (Courtesy pic)
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MBABANE – Business Eswatini (BE) has identified a number of priority reforms aimed at strengthening the country’s economic competitiveness, following the latest quarterly meeting of its Trade and Commerce Committee.

The committee, which serves as a board advisory structure to Business Eswatini, reviewed developments affecting the operating environment for businesses and adopted several resolutions aligned with the organisation’s broader advocacy agenda.

The focus areas include fiscal discipline, tax compliance and rising electricity costs – issues the private sector believes are critical to sustaining economic growth and improving the investment climate.

Business Eswatini’s Trade and Commerce Committee is chaired by Anthony Geldard, the organisation’s Vice President responsible for Trade and Commerce.

The committee provides strategic guidance to the BE Board on matters affecting trade, industry, taxation and the broader business environment.

During the meeting, members assessed a range of policy and market developments currently influencing business activity in Eswatini. The discussions culminated in a set of advocacy priorities designed to strengthen the country’s economic fundamentals, while ensuring a more competitive and predictable business environment.

Among the key issues raised by the committee was the need for stronger fiscal discipline and improved public sector efficiency. Business Eswatini emphasised that sound fiscal management remains essential for restoring investor confidence and ensuring long-term economic stability.

The organisation noted that the effective management of public resources plays a crucial role in shaping the broader economic environment in which businesses operate.

The committee, therefore, called on government to prioritise strategic expenditure management while improving efficiency within the public sector.

Key recommendations include containing recurrent expenditure, rationalising State-Owned Enterprises (SOEs) to reduce fiscal pressure on the national budget and improving productivity within the civil service through natural attrition and performance-based management systems.

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VAT compliance concerns raised

MBABANE – The committee expressed concern over reports suggesting that some businesses may not be complying fully with value-added tax (VAT) regulations.

Business Eswatini warned that such practices, if proven true, could undermine revenue collection and distort competition within the market.

According to the organisation, non-compliance creates an uneven playing field where compliant businesses are placed at a disadvantage compared to those operating outside the tax system.

The committee noted that this situation could also weaken Eswatini’s competitiveness as a regional shopping destination and reduce the country’s attractiveness to investors seeking a fair and transparent business environment.

Business Eswatini plans to engage the Eswatini Revenue Service (ERS) on possible measures to strengthen enforcement in sectors considered to be high-risk for VAT non-compliance.

At the same time, the organisation is encouraging its members to undertake internal compliance reviews to ensure that their operations fully adhere to tax regulations.

*Full article available on Pressreader*

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Written by
Nhlanganiso Mkhonta

Nhlanganiso Mkhonta serves as Business Editor at the Times of Eswatini. He reports on business, economics, finance, investment, entrepreneurship and public policy, producing insightful coverage and analysis of the issues driving Eswatini’s economy and the wider African business environment.

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