By Sizwe Dlamini
The Minister of Commerce Industry and Trade Manqoba Khumalo has announced the Citizens Economic Empowerment Council.
The Council, established under the Citizen Economic Empowerment Act which came into effect on July 1, 2024, is tasked with implementing strategies to enhance the economic participation of local citizens. The announcement was made at the Mountain View Hotel in Mbabane.
The Council’s mandate includes overseeing the implementation of the Act, monitoring progress, and ensuring that its objectives are met. Key focus areas include supporting Micro, Small, and Medium Enterprises (MSMEs), advocating for policy reforms, and creating a conducive business environment.
The newly appointed Council will be chaired by Lincoln Motsa and feature eight councilors namely Mluleki Dlamini, Dr. Thandiwe Hlatjwako, Fanele Mashwama, Sakhile Nsibande, Msutfu Masilela, Ndabenhle Dlamini, Muzi Dlamini, and Thulisile Dladla-Dlamini.
The Citizen Economic Empowerment Act introduces several measures to support local businesses, such as preferential procurement, regional development initiatives, and a supportive business culture. These measures aim to address historical economic imbalances and foster inclusive growth.
Speaking at the launch Khumalo expressed gratitude to the United Nations Development Programme (UNDP) for its instrumental role in the enactment of the Citizen Economic Empowerment Act and its ongoing support for the country’s development agenda.
“Allow me to express our deepest gratitude to the UNDP for their instrumental role in ensuring the successful enactment of the Citizen Economic Empowerment (CEE) Act. Their unwavering support, including contributions to policy development, leadership enhancement, partnership building, and institutional capacity building, has been pivotal in our nation’s progress towards eradicating poverty, reducing inequality, and achieving the Sustainable Development Goals (SDGs),” he said.
“The Citizen Economic Empowerment Council will oversee the implementation of the Act, monitor its progress, and ensure its objectives are met. It will foster collaboration among government, the private sector, and civil society to empower citizens. The Council will develop strategies to support MSMEs, advocate for policy reforms, create a favorable business environment, and continuously evaluate the act’s impact to recommend necessary adjustments,” he added.
The Minister emphasized the significance of the act stating “The success of the Citizen Economic Empowerment Act and the empowerment of our MSMEs depend heavily on the active participation and support of all stakeholders.
Large corporations, in particular, have a crucial role to play. This not only provides MSMEs with valuable business opportunities but also helps build their capacity and credibility.”
Khumalo added that corporations can share their expertise, resources, and networks with MSMEs, offering guidance and support that can make a significant difference. He highlighted that by acting as mentors, large corporations can help small businesses navigate challenges and achieve sustainable growth.
“Through corporate social responsibility initiatives,(CSI) large corporations can invest in the development of the communities in which they operate. This fosters a more inclusive economic environment and contributes to the overall well-being of our society,” he said.