Minister of Commerce, Industry and Trade Minister Manqoba Khumalo has urged local entrepreneurs to take up opportunities in the manufacturing industry, stressing the need to reduce reliance on imports and create wealth within Eswatini.
He was speaking during the Industrial Finance Seminar hosted by the Eswatini National Industrial Development Corporation (ENIDC) at the Eswatini International Trade Fair yesterday.
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The event was attended by captains of industry, SMEs, business leaders, and private sector representatives, who engaged on the role of industrial finance in unlocking economic growth and employment creation.
Manufacturing as a Key Driver
Khumalo highlighted that the manufacturing industry contributes 38% of the country’s GDP, placing Eswatini high on the industrialisation index.
In contrast, he noted the mining sector contributes less than 2%, which he described as disappointing given the country’s rich natural resources.
“There’s an amazing opportunity not only to grow other sectors, but to industrialise, which would be a more beneficial use of minerals,” Khumalo said.
Call to Action
The minister urged entrepreneurs to explore agriculture, forestry, and agro-processing, emphasising ENIDC’s role in promoting underserved sectors and turning raw materials into finished products.
Agriculture — dominated by sugarcane — currently contributes about 13% to GDP.
“I challenge all of us to think about the next level because those before us have done what they have done to land us where we are,” Khumalo said.
He added that Eswatini must embrace a culture of industrialisation, lamenting the rarity of black-owned, Eswatini-owned industrial companies in the country.
ENIDC’s Role
Khumalo praised ENIDC for producing some of the best leaders in the country, reiterating its mandate to drive industrial growth and expand opportunities for local entrepreneurs.
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