This week EswatiniBank has embarked on a nationwide tour of projects it funded worth E85 million.
The tour started today. One of the projects visited is Dalcrue Chicken in Malkerns in the Manzini region, a poultry-rearing operation that received E30 million in funding from the bank. The facility is currently managed by Elangeni Poultry which also owns abattoirs and supplies chicken to various retailers.
Dalcrue Agricultural Holdings Managing Director (MD) Simanga Simelane stated that the project was fully owned by Dalcrue and operated in partnership with Elangeni Poultry.
He emphasised that the initiative was not only focused on food security but also introduced skills, technology and spin-offs that can benefit other agricultural projects.
He noted that agriculture was becoming increasingly technical in nature.
The Dalcrue Chicken Project uses environmentally controlled broiler houses,demonstrating the country’s dedication to sustainable farming. The project ensures optimal bird growth and welfare by providing ideal conditions for poultry farming, including regulated temperature, humidity and ventilation.
Elangeni Poultry Agriculture Manager Matthew Manlin shared that each of the five poultry houses accommodated over 40 000 chickens. He added that the project has created employment for 12 people and was equipped with state-of-the-art technology, making it one of the most advanced in the country. He expressed gratitude to the bank for its support and mentioned that they are exploring opportunities for expansion. EswatiniBank Board Chairperson Dumsani Mahlinza explained that when considering a project to finance, the bank prioritises its viability.
He said that in the case of this project, they concluded that it was a worthwhile investment due to its potential to boost the local economy and create jobs.
“We look at expansion projects as new projects,” he stated.
EswatiniBank Managing Director Dr. Nozizwe Mulela described the project as the pride of the bank.
She said it was one of the projects financed over the past three years and highlighted the ease of working with its owners. Dr. Mulela praised the project managers for their professionalism, noting that they submitted all the required documentation promptly, allowing the project to progress smoothly. She added that the client successfully mitigated all risks identified by the bank. The MD emphasised the importance of maintaining strong relationships between banks and clients, encouraging clients to communicate openly with the bank when facing challenges.
“To potential customers, it is important to apply yourself and provide all the necessary requirements,” she said.
The project was officially opened last year by His Majesty King Mswati III, who commended its contribution to the economy.
The king also recognised the planned expansion and expressed hope that the country’s youth would use the project as a model to learn agricultural skills and innovation.
The bank board also visited Osentele’ Okuhle, a company based in KaNcesi and Msumpe, which owns two Engen petrol stations. These stations have created 47 job opportunities for Emaswati. The company received E10 million in funding from EswatiniBank. The two stations have also played a role in developing the area and made it more accessible for people to reach patrol stations.
The convenience shop attached to the Engen station in KaNcesi in the Hhohho region reportedly generates E300 000 in monthly revenue.
Other projects include Khabo investments and Espinho restaurant. The tour continues today.
