E7.4bn projects enter implementation phase, to create 4 850 jobs

MBABANE – Five major investment projects worth E7.4 billion have transitioned from planning to implementation through EIPA, with the developments expected to generate about 4 850 jobs.

The projects, facilitated through the Eswatini Investment Promotion Authority (EIPA), were highlighted by Minister for Commerce, Industry and Trade Manqoba Khumalo in his ministry’s first quarter performance report. The report paints a picture of a government pushing ahead with investment attraction, industrialisation, business reforms and enterprise development despite global economic headwinds.

Among the biggest developments was Taiwanese textile giant Texray Group’s commitment of US$80 million (approximately E1.43 billion) as the anchor investor for the Taiwan Innovation Industrial Park, a project expected to significantly strengthen Eswatini’s manufacturing base while deepening economic relations with Taiwan.

Khumalo described the first quarter as laying the groundwork for another year of implementing government’s strategic priorities aimed at building a resilient, diversified and inclusive economy.

“The first quarter marks the commencement of another year of implementing the ministry’s strategic priorities in pursuit of His Majesty’s Government’s vision of building a resilient, diversified and inclusive economy,” Khumalo stated.

He acknowledged that the ministry was operating in an increasingly difficult international environment characterised by persistent inflationary pressures, disrupted global supply chains, geopolitical tensions and fierce competition among countries seeking foreign direct investment.

Citizen empowerment gathers momentum

MBABANE – Government also reported notable progress towards expanding citizen participation in the economy.

Minister for Commerce, Industry and Trade Manqoba Khumalo said the Citizen Economic Empowerment Regulations had been finalised following extensive stakeholder consultations and had now been submitted to Cabinet. The regulations are expected to increase participation by emaSwati in strategic sectors while broadening domestic ownership of economic assets. The ministry further continued implementing programmes to strengthen micro, small and medium enterprises (MSMEs) through access to finance, entrepreneurship development, incubation, coaching and mentorship.

Through SEDCO and other implementing agencies, incubated MSMEs created 507 jobs during the quarter while generating sales worth nearly E10 million. Specifically, incubated businesses generated E9.96 million in revenue, demonstrating the growing contribution of small enterprises to the national economy. The ministry also reported significant progress in promoting women’s economic participation. Women-owned businesses accounted for 37 per cent of exhibitors participating at the Royal Signature Expo, exceeding the ministry’s strategic target of 30 per cent.

Meanwhile, 40 MSMEs received specialised training covering export procedures, logistics, international trade requirements, e-commerce and market entry strategies to prepare them for regional and international markets. Eswatini also remained actively engaged in regional and international trade negotiations during the quarter. The ministry participated in engagements under SACU, SADC, COMESA, the AfCFTA and the World Trade Organization aimed at safeguarding and expanding market access for local products. One of the key achievements was reaching convergence on seven of the 10 articles relating to implementation of Article 26 on Infant Industry Protection under SACU. The ministry believes this strengthens policy space needed to protect and nurture emerging domestic industries. Implementation of the National Trade Facilitation Roadmap also continued, focusing on improving border efficiency, strengthening institutional coordination and building export readiness among local businesses.

Competition Commission approves 5 mergers

MBABANE – Government also reported progress in strengthening fair competition and promoting innovation.

The Eswatini Competition Commission (ESCC) approved five merger notifications during the quarter and analysed eight additional mergers involving COMESA member States. The commission also resolved 32 consumer complaints amicably while completing a research study on the beef value chain. On intellectual property, more than 140 local artists were registered for copyright monitoring and future royalty distribution.

Authorities also processed 72 trademark applications and 56 trademark renewals, signalling growing awareness of intellectual property protection among businesses and innovators. Despite the encouraging progress, Khumalo acknowledged that several challenges continue to affect implementation of the ministry’s programmes.

These include fiscal constraints, limited human resource capacity, infrastructure funding shortages and continuing uncertainty within the global economy.

Nevertheless, he maintained that government remains committed to strengthening institutional efficiency, deepening partnerships and pursuing innovative approaches to deliver economic transformation.

EIPA facilitates broader investment promotion

MBABANE – Beyond attracting new investors, EIPA also facilitated broader investment promotion activities.

Eighteen companies accessed international markets through exhibitions held in Taiwan, generating approximately E2 million in potential export orders, while 20 trade enquiries were resolved with a 100 per cent response rate.

Other milestones included the handover of the 28-hectare Manzini Arch project site to contractors, the awarding of a construction tender for the Manzini Mall project, commissioning of the Metal Foundry Plant at Sidvokodvo and financial close for the Tsamela Solar photovoltaic project after signing its Power Purchase Agreement.

Negotiations also advanced for the RESCorp Solar PV project while feasibility studies continued for the proposed Agro-Industrial Park.

Alongside investment attraction, Khumalo reported continued progress in improving Eswatini’s business environment through regulatory reforms.

One of the flagship reforms remains the Companies Bill, which has progressed significantly and is expected to modernise company registration and corporate governance once enacted.

The legislation will introduce a more efficient, transparent and digitally enabled company registration system aimed at improving the ease of doing business and enhancing investor confidence.

889 companies registered in Q1

MBABANE – The Registrar of Companies registered 889 new companies during the quarter, including 888 domestic companies and one foreign-owned entity.

Of these, 837 were owned by emaSwati while 610 were processed through the online registration platform, reflecting government’s gradual transition towards digital business registration.

Although registrations declined slightly from 919 companies recorded during the same quarter last year, the ministry attributed the slowdown to global economic uncertainty, inflationary pressures and limited access to finance for emerging businesses.

Meanwhile, industrialisation remains one of government’s central economic priorities, with the ministry reporting steady progress in preparing the next generation of industrial infrastructure.

Preparatory work continued on reviewing the country’s Industrial Estates Strategy and Masterplan to support future manufacturing expansion and regional industrial development.

An Expression of Interest has already been prepared to begin procuring consultants who will undertake feasibility studies and review the country’s industrial infrastructure strategy.

At the same time, reforms under the Investor Roadmap Programme continued.

These reforms seek to simplify administrative procedures, eliminate unnecessary regulatory bottlenecks and strengthen collaboration between government and the private sector.

The ministry also made progress in drafting Special Economic Zones(SEZ) Regulations, which will establish a structured framework governing future SEZ operations and investor incentives.

Once the zero draft has been completed, consultations with stakeholders are expected to begin.