Winners of the Entrepreneur of the Year Awards (EYA) programme have generated a combined annual turnover exceeding E167 million and supported more than 1,600 jobs across Eswatini, underscoring the programme’s role as a powerful driver of economic growth over the past two decades.
This was revealed by the Minister of Commerce, Industry and Trade, Manqoba Khumalo, during the launch of the 20th anniversary edition of the awards, highlighting the cumulative impact of an initiative that has become a flagship platform for entrepreneurship development in the Kingdom.
Addressing stakeholders at the event, the Minister described the programme’s impact as both measurable and transformative.
“The Entrepreneur of the Year Awards has recognised over 162 winners, disbursed more than E2.4 million in cash prizes directly into growing businesses, and supported a combined workforce of over 1,600 employees across winning enterprises,” he said. “Perhaps most strikingly, the combined annual turnover of recognised businesses has exceeded E167 million; a figure that underscores, beyond any doubt, that this is not simply an awards ceremony. It is an economic intervention.”
The Minister emphasised that the EYA has consistently translated recognition into tangible economic outcomes, with prize money serving as working capital that enables business expansion, job creation, and increased productivity.
“Each prize handed out represents a business strengthened, a job sustained, and a community uplifted,” Khumalo added.
Established in 2002, the EYA programme was established by the Small Enterprises Development Company (SEDCO) in partnership with the private sector to identify, recognise, and support outstanding entrepreneurs. Over the years, it has evolved into the country’s premier entrepreneurial platform, with participation spanning all four regions of the Kingdom.
Khumalo reflected on the programme’s legacy, tracing its roots from its inaugural winner, Ezekiel Mkhombe of E.M Loggers, to the most recent national champion, Duncan Dlamini of DJD Pork in 2025.
“Between those two names lies a roll of honour that spans every sector and every region of this Kingdom; a twenty-year chronicle of businesses built, standards raised, and an economy moved steadily forward by the hands of our own people,” he said.
The Minister further linked the programme’s success to government’s broader economic strategy, particularly efforts aimed at strengthening the micro, small and medium enterprise (MSME) sector. He cited policy instruments such as the Citizen Economic Empowerment Act and the National MSME Policy 2024-2029 as key enablers of entrepreneurial growth.
“These are not documents on a shelf,” Khumalo said. “They are the policy foundation that SEDCO, the EYA, and every business support programme in this Kingdom stands on.”
Beyond policy, the Ministry has also expanded entrepreneurship support services to Tinkhundla centres across the country, in line with national directives to decentralise access to government services and unlock grassroots economic potential.
The Minister emphasised that the continued success of the EYA programme has been driven by strong partnerships between government, the private sector, and development institutions. He paid tribute to title sponsor FNB Eswatini for its longstanding support, particularly in funding prize money and the programme’s flagship grand prize vehicle.
“The programme works because partners chose to invest in it, and for twenty years that investment has produced real, measurable results,” he said.
Khumalo also issued a call to corporates and financial institutions to deepen their involvement, noting that the E167 million turnover generated by EYA businesses represents a clear return on investment.
“That is not the return of a marketing campaign. That is the return of a national investment,” he said.
At the same time, entrepreneurs across the country have been urged to take advantage of the platform by entering the 2026 edition. The application process has been streamlined to improve accessibility, with digital submissions available alongside physical forms at SEDCO offices nationwide.
“Enter this programme. Apply. Tell your story,” Khumalo urged. “The names we celebrate today are not mythical figures. They are businesspeople who built something real in Eswatini and had the courage to put their name forward.”
This year’s edition is being held under the theme “20 Years of Nurturing Future Growth,” reflecting both the programme’s legacy and its forward-looking commitment to developing the next generation of entrepreneurs.