BE Members Account For Over 90% of Private Sector GDP Contribution in Eswatini

By Phiwa Sikhondze

Mvuselelo Fakudze, President of Business Eswatini (BE) and Chief Executive of Standard Bank Eswatini has revealed that members of BE are responsible for more than 90% of the private sector GDP contribution in Eswatini.

This revelation was made at the Drivers of Inclusive Growth – Private Sector Engagement, graced by the World Bank Group Regional Vice President for Eastern & Southern Africa, Dr. Victoria Kwakwa. Fakudze highlighted that BE members are the driving force behind private sector revenue growth, innovation, job creation, and overall economic development.

“Our members are major contractors and key contributors to the private sector revenue, driving the economic engine of Eswatini,” Fakudze stated. “Their dedication and entrepreneurial spirit are instrumental in fostering sustainable economic growth and competitiveness.”

The significance of BE’s contribution was further emphasized in the context of its collaboration with international partners like the World Bank. Fakudze praised the World Bank for its unwavering support and highlighted the success of initiatives such as the National Trade Facilitation Committee (NTFC).

He noted that the Joint Border Action Plan with South Africa and the Women in Trade Gender Study were among the remarkable achievements stemming from this collaboration.

“We are proud of our partnership with the World Bank, which has helped streamline trade processes, reduce bottlenecks, and promote gender equality. Programs like ‘Vukani Bo Make’ have empowered rural women and boosted our export capabilities,” Fakudze added.

In his concluding remarks, Fakudze encouraged BE members to engage actively with international partners and leverage opportunities to shape Eswatini’s economic future.

“This meeting is an extraordinary opportunity for us to strengthen our partnerships and drive meaningful change,” he said.

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