By Fezile Mkhatshwa
Eswatini Bank and the Small Enterprise Development Company (SEDCO) have signed a five-year Memorandum of Understanding (MoU) aimed at enhancing financial accessibility, capacity-building, and strategic support for micro, small, and medium enterprises (MSMEs).
The signing ceremony took place earlier today at Eswatini Bank’s auditorium, marking a collaborative commitment to fostering entrepreneurship and innovation in the country. The partnership, set to run until 2030, aligns with His Majesty King Mswati III’s call for Nkwe, a national initiative promoting economic progress and sustainable development.
Making her remarks, Eswatini Bank, Managing Director, Noziwe Mulela, said the MoU represents not just an agreement, but a shared commitment to fostering economic growth and empowering MSMEs, which are the lifeblood of our economy.
“We are proud to partner with an organization that shares our vision for a prosperous and intrusive economy. As we sign this MoU today, let it serve as the beginning of a fruitful relationship, one that will drive the positive transformation of the MSME sector in Eswatini,” she noted.
Both organizations are poised to create an ecosystem that nurtures entrepreneurship and fosters innovation. The efforts will include the provision of expert guidance, mentorship programmes, and enhanced financial accessibility.
Meanwhile, SEDCO Chief Executive Officer, Khethiwe Mhlanga, noted that the partnership will improve the value chain, revealing that there is a huge opportunity to export products and for SMEs to be the main players where food security and manufactured goods are concerned.
“This MoU will enable small enterprises, especially women, youth, and those living with disabilities to focus on closing the economic gaps, without having to be constricted by a lack of financial support, which through this agreement, Eswatini Bank has provided,” Mhlanga stated.