EZULWINI – Late invoice payments threaten businesses and jobs, with His Majesty King Mswati III urging entrepreneurs facing overdue government and corporate bills to report such cases to SEDCO.
His Majesty said late payments were placing small businesses under pressure, as unpaid invoices could leave entrepreneurs unable to pay workers and force otherwise viable ventures to close.
“Because a late invoice means unpaid wages and ventures that quietly close,” the King said.
He was speaking during the 20th edition of the Entrepreneur of the Year Awards (EYA), held at the Ezulwini Palazzo International Convention Centre on Wednesday evening.
The King said entrepreneurs experiencing late or non-payment by government, public enterprises and corporations could now use a newly available reporting line at the Small Enterprises Development Company (SEDCO). The King said the challenges faced by entrepreneurs required practical responses, particularly in improving access to finance and procurement opportunities.
He noted that the Citizen Economic Empowerment Act and the National Micro, Small and Medium Enterprise Policy 2024–2029 provided a framework for addressing issues affecting local businesses, including access to markets, financing and digital readiness. He also urged large companies to prioritise indigenous businesses and welcome smaller enterprises into their supply chains as suppliers and business partners.
The King said the businesses recognised through the awards over the years now generated a combined annual turnover of more than E167 million, demonstrating the programme’s contribution to employment, tax revenue and business confidence. This year, 362 entrepreneurs participated in the competition across the country’s four regions, with women accounting for 64 per cent of entrants.
The King said the figures highlighted the importance of ensuring that policies responded to entrepreneurs’ needs, particularly regarding access to financing and procurement contracts.
He also called on entrepreneurs to continue expanding their operations, creating employment and paying their suppliers on time. The King urged those who did not win awards to consult SEDCO and relevant government departments for support in scaling up their businesses, building networks and preparing for future competitions.
He said resolving payment delays and strengthening opportunities for local enterprises were important steps towards building a business environment in which entrepreneurs could sustain their operations and contribute to the country’s economic growth.
… wants bigger prizes at EYA
EZULWINI – His Majesty King Mswati III has challenged FNB Eswatini and other partners to increase support for the Entrepreneur of the Year Awards, saying future editions must offer bigger prizes.
The King said he looked forward to next year’s edition being bigger and better, encouraging sponsors to increase their contributions so that the awards could offer more substantial rewards to the country’s entrepreneurs. The King acknowledged the contribution of the programme’s partners, particularly FNB Eswatini and the FNB Eswatini Foundation, which served as the title legacy partner for the anniversary edition. According to the King, total sponsorship from all partners reached E2.241 million this year, with FNB Eswatini contributing E2 million. The sponsorship package also included a grand vehicle prize valued at over E500 000, according to his speech. He extended an invitation to corporations, financial institutions and development partners to contribute towards the awards, stressing that supporting entrepreneurs was an investment in the country’s future.
“When you support an entrepreneur, you invest in the future of this nation,” the King said, urging businesses to sponsor, mentor entrepreneurs and open their supply chains to local enterprises.
The awards, which marked their 20th anniversary this year, recognise businesses that demonstrate achievement, innovation and growth. The programme has also provided a platform for entrepreneurs from all four regions to showcase their enterprises and compete for national recognition.The King said the businesses recognised through the programme over the years now recorded a combined annual turnover exceeding E167 million, which he described as evidence of the awards’ contribution to jobs, taxes and business confidence. He also called on winners to use the recognition as a platform to expand their operations, employ more young people and strengthen their businesses. The King urged entrepreneurs who did not win to remain determined and return stronger in the next edition. His call places the spotlight on the role of corporate sponsorship in sustaining and expanding the awards, particularly as local entrepreneurs seek greater access to markets, funding and business development opportunities. With the programme entering its next phase after two decades, the King expressed hope that the next edition would deliver bigger prizes and an even stronger platform for celebrating entrepreneurial excellence in Eswatini.
