MBABANE – Members of Parliament are scrutinising regulations designed to give emaSwati greater ownership, participation and control of the country’s economy as implementation of the Citizen Economic Empowerment Act moves closer.
The deliberations took place at the Hilton Garden Inn today, where MPs, particularly members of the Ministry of Commerce, Industry and Trade Portfolio Committee, convened to consider how the Act will translate into practical opportunities for citizens.
At the centre of the discussions is the broader objective of ensuring that emaSwati are not merely participants in the economy, but increasingly become owners and operators of businesses and economic opportunities.
One of the proposals under scrutiny is that no foreign business may operate on Swazi Nation Land (SNL).
The proposal has placed the question of who should benefit from economic opportunities in the country firmly at the centre of the parliamentary deliberations.
Citizen Economic Empowerment Council Chairperson Lincoln Motsa has also told the gathering that emaSwati are ready to occupy economic spaces that have, over the years, been dominated by foreign operators.
The regulations are intended to provide the framework through which the Citizen Economic Empowerment Act will be implemented, with citizen participation and economic ownership forming key components.
The Act represents an attempt to address longstanding concerns around the participation of emaSwati in the economy, particularly their access to business opportunities, markets, land and sectors where foreign businesses have established a significant presence.
The parliamentary deliberations are, therefore, expected to shape how the legislation will affect businesses, citizens and foreign operators once the regulations are finalised and implemented.
The discussions also come at a time when government is seeking to increase local economic participation and ensure that economic growth translates into wider opportunities for citizens.
For Swati entrepreneurs and businesses, the regulations could have significant implications for the competitive landscape, particularly in areas where access to economic opportunities has been a long-standing concern.
At its core, the legislation seeks to shift greater economic power towards emaSwati by creating a framework for increased citizen ownership, participation and control of economic activity in the kingdom.
