FINCORP Rallies Behind Finance Minister’s Call To Ensure All EmaSwati Receive Better Service Delivery


Article by Dumisani J. Msibi (FINCORP Group Managing Director)

Firstly, we would like to congratulate His Majesty’s Government and the Minister of Finance for successfully tabling a fully financed budget for the ensuing year.

This milestone cannot go unnoticed because a properly planned budget is of utmost importance for the government to ensure fiscal and economic stability.

As the Minister stated in his budget speech, upon entering office, part of his key objectives was to balance the budget, raise optimal revenue, and increase funding for infrastructure to enhance service delivery.    

We also applaud the current administration for the other achievements, including but not limited to the record Southern African Customs Union (SACU) receipts for 2023/24, 6th ranking in the Africa Industrialization Index 2022; reduction of arrears with respect to domestic government suppliers; and the reduced fiscal deficit over the years.

Surely, in line with the budget’s theme, these are the “First Fruits” of this current administration’s past four years of sheer commitment and focus.

As the Minister said, despite all these positive achievements, the questions we should be asking ourselves are: “Are the ordinary citizens experiencing these benefits in their day-to-day lives? Do they receive the social and economic dividends from these positive adjustments?”

Hence, we welcome the fact that this budget puts us on a sustainable economic path and the commitment of the government to ensure that all Emaswati receive better service delivery in all spheres.  

We welcome the emphatic focus on the youth and all initiatives of making the youth an integral part of nation-building.

This is also an important task for Eswatini Development Finance Corporation (FINCORP). We remain steadfast and committed to supporting government programmes through our mandate as enshrined under legal notice number 16 0f 1996 of delivering access to credit, stimulating job creation, and driving poverty alleviation efforts across the length and breadth of the country in pursuit of a better standard of living for all.  

In the current financial year, FINCORP’s focus shall be directed to the sectors that have been prioritized by both the directives as per the state of the nation address; the budget speech, and the national economic recovery strategy essential focus areas which include agriculture, manufacturing, energy generation, information communications technology (ICT), and tourism.  

In an effort to better position ourselves as an institution to fully complement government efforts as a 27-year-old state-owned enterprise, we have embarked on a digital transformation journey in order to renew ourselves by leveraging efficient service and socio-economic impact delivery using emerging technologies.

We will also in the short to medium term expand our product offering and scope of activities in order to ensure deepened national financial inclusion. 

FINCORP strongly believes that the new strategy will enable us to adequately meet customer expectations and to create platforms to collaborate, drive efficiency, and outreach. More importantly, it will put us in a good position to offer value to our customers.  

To that end, we have already commissioned the installation of a new MIS (Management Information System) as part of our digital transformation efforts.

We appreciate all our stakeholders particularly our shareholders; the Minister of Finance, and the Board for their unending support of the organization. 

It is quite evident that the operating environment is increasingly becoming complex and demanding hence we shall continue to come up with new strategies aimed at sustaining the organization and enabling the organization to continue delivering on its mandate but also to maximize socio-economic impact and change as many lives as possible.   


Share With Friends