Eswatini’s small and medium enterprises (SMEs) are encouraged to look beyond national borders and embrace regional and international markets as key opportunities for sustainable growth.
This call to action was issued at the Grow Beyond Borders SME Seminar 2025, held at House on Fire in Malkerns and organized by Standard Bank Eswatini in partnership with MasterCard.
The high-profile seminar brought together entrepreneurs, investors, trade experts, and creative industry professionals to discuss practical strategies for expanding SME businesses regionally and globally.
In his speech, Mlamuli Hlatshwayo, Head of Business & Commercial Banking at Standard Bank Eswatini, emphasized the vital role SMEs play in Eswatini’s economy and the urgent need to connect them to wider continental value chains.
“Entrepreneurship is the seed from which economic giants grow. We are here today not only to celebrate that spirit, but to prepare it for growth,” Hlatshwayo said. “We don’t want SMEs that merely survive; we want SMEs that thrive, innovate, and access markets beyond our borders.”
Citing data from global organizations like the World Bank and the United Nations, Hlatshwayo pointed out that SMEs make up 90% of businesses in Africa, provide over 80% of employment, and produce more than 50% of GDP. In Eswatini alone, over 68,000 SMEs contribute to more than 21% of the national workforce, despite many still operating informally.
“These are significant figures,” he said. “Countries like India and Poland have demonstrated that empowering the SME sector strengthens the entire economy. It’s time we follow suit with clear intent and purpose.”
The seminar also examined key obstacles preventing SMEs from trading across borders, including limited access to finance, insufficient trade knowledge, inadequate infrastructure, and skills gaps in marketing, compliance, and business systems.
Hlatshwayo recognized these challenges but assured the audience that Standard Bank is actively working to address them.
“We know many of you are talented with your ideas, but need support with structure, financing, or reaching new markets,” he said. “That’s why we are here—to support you on this journey.”
Standard Bank’s SME strategy is built on four main pillars to foster growth and sustainability. These include access to tailored financial solutions such as working capital and investment products; digital platforms that simplify operations and facilitate smooth online transactions; personalized relationship banking offering bespoke advice and one-on-one support; and non-financial assistance like training, market linkages, and guidance through regulatory procedures.
“Whether it’s risk management, foreign exchange for export, or e-commerce platforms, we want to be your growth partner,” Hlatshwayo added. “Our solutions are customized to fit your business’s reality.”
The bank also emphasized its commitment to women-led businesses, highlighting that its SME division—Enterprise Banking—is led by women both in Eswatini and across the region.
“Women entrepreneurs often face greater barriers to accessing markets, and we are actively changing that narrative,” Hlatshwayo stated. “We are proud that our leadership team reflects this commitment.”
Joining the panel was Joret Olivier, Head of Enterprise Banking – Business and Commercial Banking (Africa Regions), overseeing Enterprise Banking across 14 African markets. Olivier reiterated the bank’s long-term goal to develop Africa’s next generation of regional and global companies.
“At Standard Bank, we are far more than just Africa’s largest bank by assets. We are your dedicated continental and global partner for Small and Medium Enterprises (SMEs). With a formidable footprint spanning over 20 countries across Africa,” she said “This extensive reach means we can empower your SME not only within your domestic market but also as you set your sights on regional expansion and the global stage.”