By Phesheya Mkhonta
The post-COVID- 19 Economic Recovery Plan by the government has been a success.
This is according to the Post COVID-19 Economic Recovery Report compiled and prepared by the Eswatini Economic Policy Analysis and Research Centre (ESEPARC).
According to the report, the investment in the economy comes from the following sectors, agriculture, energy, infrastructure, ICT, Manufacturing, retail, textile, tourism, mining, and aviation.
One of the sectors with the highest investment was agriculture at E2.8 billion, translating to a total of 3 700 jobs created. Investments in this sector were by the Royal Eswatini Sugar Corporation (RES) and the LUSIP 2 project.
The energy sector led to the creation of 615 jobs, and a total investment of E1 billion. Investments comprised Mitra Energy, an energy company that has committed to opening 10 service stations, mostly in rural areas.
The Eswatini Electricity Company also invested a total of E560 million in their Network Reinforcement project. The Lavumisa Solar Project on the other hand contributed a total of E400 million to the local economy.
In terms of infrastructure, health and property, a total of E3 billion was invested in the local economy leading to a total of 2100 jobs. Infrastructure projects entailed the Manzini Mbhadlane Highway, the Manzini Interchange, and the Gege Sicunusa Road.
The Ezulwini Private Hospital’s Investment value was at E400 million with an estimated 110 employees. The AHF Health Facility also had a E400 million investment value, and the FNB Headquarters had an investment value of E200 million.
The ICT sector contributed E419 million to the country’s recovery according to the report. The MTN 5G project yielded an investment of E219 million into the local economy and a total of 30 employees. The ESCCOM Headquarters project is estimated to be worth E200 million.
Manufacturing which is one of the sectors that has led to the country being considered one of the most industrial economies on the continent led had an investment of E1, 5 billion. Projects under manufacturing included the Lush Hair Care Factory, Umtfombo Wekuphila Health Care Factory, SANO Foods, Britannia Brands, Invert Syrup Plant, Nurscon Flexibles, Mondelez Expansion, which was to the tune of E60 million.
The Kellog Tolaram Production Plant was to the tune of E150 million and the SOMI expansion had an investment value of E450 million.
Retail injected a total of E875 million into the local economy and comprised of projects such as Matsapha Link, Spar Hilltop, Ok Msunduza, Matsapha Lifestyle, Ngwenya Mall, Siteki Mall, Manzini Junction, Malkerns Square Retail, Cardo Square and Siphofaneni Pick n Pay.
Tourism, Mining, and Aviation had a combined investment of E950 million, with a total of 400 jobs.