By Ayanda Dlamini
The Industrial Development Company of Eswatini (IDCE) recorded a significant expansion in its asset base during the 2025 financial year, with total assets at group level rising from E1.1 billion in 2023 to E1.8 billion in 2025.
At company level, assets increased from E1.1 billion to E1.3 billion over the same period, underscoring sustained balance sheet growth driven by portfolio expansion and prudent financial management.
Announcing the performance at the Happy Valley Hotel, IDCE Chairman Dumisani Kunene said the strengthened asset position reflects disciplined execution of the company’s strategy and lays a solid foundation for improved profitability and shareholder returns.
He noted that the asset growth trend has been sustained over the past three years, positioning IDCE to support both commercial performance and its broader development mandate.
On the back of this strong financial performance, the Board of Directors has recommended declaring a dividend for the financial year ended 2025.
The recommendation, made in accordance with the Companies Act and the Company’s Articles of Association, reflects the Board’s confidence in IDCE’s financial resilience and prospects.
The recommendation is aligned with IDCE’s dividend policy and long-term strategic objectives, which prioritise maintaining adequate capital to fund future investments while delivering returns to shareholders.
List of Shareholders & Figures
Eswatini National Provident Fund- E 9 024 181.85
Eswatini Government- E 5 091 124.39
Nedbank Eswatini- E 225 786.63
Standard Bank Eswatini- E 225 786.63
Net Profit Soars
Kunene attributed the positive results to the commitment of management and staff, as well as the continued trust and confidence of shareholders.
“This achievement is a testament to the dedication of the IDCE team and the support of our shareholders, both of which remain critical to sustaining growth and long-term value creation,” he said.
He stated that profitability improved alongside asset growth. Net income for the period totalled E103 million at group level and E73 million at company level, providing a solid earnings base to support shareholder distributions.
The Chairman noted that the performance was primarily driven by an increase of approximately E300 million in disbursements over the three years since 2023, reflecting IDCE’s expanded investment activity.
These investments have delivered measurable developmental impact, particularly in the agriculture and manufacturing sectors.
Increased funding to these sectors has contributed to job creation and economic diversification, reinforcing IDCE’s mandate to promote inclusive and sustainable economic growth within Eswatini.
In addition, IDCE continued to invest in developing factory shells at the Matsapha Industrial Site.
These facilities have successfully accommodated companies relocating from South Africa, strengthening domestic industrial capacity, supporting foreign direct investment, and enhancing Eswatini’s competitiveness as a regional investment destination.
Kunene reaffirmed the Board’s commitment to disciplined growth, sound governance, and long-term value creation.
He expressed confidence that IDCE’s strengthened financial position will enable the company to continue delivering sustainable returns while advancing its developmental and industrialisation objectives.
In closing, Kunene extended its sincere appreciation to shareholders for their continued support and to management and staff for their dedication and hard work in driving IDCE’s strong performance during the year under review.