The Capital Provider Award identifies excellence by an organization providing a full range of services and illustrating effective and innovative instruments/accessibility of the facilities, affordability, sustainability, and risk mitigation. Entry is open to government agencies, consultancy, and financial institutions active in the finance sector.
Photo Credit:https://www.fincorp.co.sz/
By Inside Biz Staff
The Eswatini Development Finance Corporation (FINCORP) has been nominated for a Capital Provider Award under the Southern Africa Regional Exporters Awards (SAREA) 2022.
The information was disclosed by FINCORP Group Brand Development and Communications Officer, Bonginkosi Manqoba Makhubu through a press release. The awards are a collaboration between the Eastern Cape Development Corporation (ECDC), and the United States Government, through the USAID Southern Africa Trade and Investment Hub (USAID TradeHub).
According to SAREA, the Capital Provider Award identifies excellence by an organization providing a full range of services and illustrating effective and innovative instruments/accessibility of the facilities, affordability, sustainability, and risk mitigation. Entry is open to government agencies, consultancy, and financial institutions active in the finance sector.
This year’s awards are the second edition, and are themed ‘Celebrating the Export Excellence of Southern African Brands’. The awards will be held at the Boardwalk Casino & Hotel, Gqeberha, Eastern Cape, South Africa on July 26, 2022.
The awards engage with all nine participating countries; Angola, Botswana, Eswatini, Lesotho, Malawi, Mozambique, Namibia, South Africa, and Zambia, to increase sustainable growth, and export competitiveness, and trade between these countries and South Africa, and collectively with the United States.
“This represents a meaningful contribution to the national economic activity. As we speak, over E1.4 billion is in the hands of Emaswati who are developing themselves one way or the other”
The SAREA judging panel is drawn from the private and public sectors. It is composed of experts with significant international business experience.
According to the ECDC, who are coordinators of the awards, the awards recognize and honour Southern African firms engaged in international sustainable growth through innovation and commitment.
“FINCORP accepts this nomination with humble honor and a strong sense of pride. It also regards this nomination as a nod to the company’s vision ‘to be the most preferred provider of broad-based innovative development finance services. We would like to thank the ECDC for this singular honor and the USAID Southern Africa Trade and Investment Hub Country Program office for their kind assistance” notes the finance development institution.
Additionally, the institution states that they view the nomination as a recognition of the work they have done in terms of economically developing Emaswati through the provision of accessible financial services.
The statement issued by Makhubu further states that since its launch in November 1995, FINCORP has disbursed a cumulative E6.3 billion in loans to more than 80 000 beneficiaries. This translates to businesses financed by FINCORP currently supporting above 15 000 jobs, and further contributing about E1.5 billion to the Gross Domestic Product (GDP).
“This represents a meaningful contribution to the national economic activity. As we speak, over E1.4 billion is in the hands of Emaswati who are developing themselves one way or the other” notes FINCORP.
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