MBABANE – The Minister for Commerce, Industry and Trade, Manqoba Khumalo, has urged government, parastatals and the private sector to prioritise timely payments to micro, small and medium enterprises (MSMEs).
Khumalo said delayed payments continued to threaten the survival of MSMEs, which are key drivers of job creation, poverty reduction and economic growth.
“MSMEs are the heartbeat of our economy. By prioritising payments, we are not only honouring our obligations, but also empowering entrepreneurs to thrive, innovate and contribute meaningfully to national development,” Khumalo said.
He explained that delays in payments had far-reaching consequences for small businesses, which often rely on loans to meet supply obligations. In many cases, late settlements result in cash flow challenges, repossession of assets, inability to service loans, job losses and even bankruptcy.
The ministry has, therefore, appealed to all institutions to fast-track the settlement of outstanding invoices, saying such action is critical for the sustainability and growth of the MSME sector.
Government departments have already been directed to address late payments internally, while a similar call has been extended to parastatals and private sector players.
Khumalo also cautioned against corrupt practices, including cases where invoices are deliberately withheld at departmental level unless bribes are paid for them to be processed.
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