His Majesty sets the tone for the economic empowerment of Swazis

By Vusi Sibisi

CONCERNED with the ever increasing number of unemployed and continued marginalisation of Swazis from the mainstream economy of the Kingdom, His Majesty King Mswati III has steadfastly pursued a policy of empowerment which however has not only been complimented but often frustrated by the government.

From early in his young reign the Ingwenyama has impressed on the need for Swazis to develop entrepreneurial skills and actively promoted the diversification of the country’s economy and put much emphasis on small-scale business. To this end he promoted the diversification of the education system towards vocational training.

Having put the country on the path to political reform, His Majesty has consistently emphasized the goal for economic independence, saying political independence alone could not better the lives of the Swazis.

Given to following words with action, he set up the Prince Guduza Economic Vusela to gather the views of the nation on improving the economy of the country. The report of that national consultation will form the backbone of the country’s rolling five-year development plan.

In a bid to market Swaziland as an investment haven, the King has travelled to and made friends with a lot of countries. He has also strengthen ties with the country’s old friends, notable among these the Republic of China which today ranks as among the top benefactors of this country.

And to underline the strong cordial relations with Taiwan, His Majesty has visited that country three times while that country’s President Lee Teng-hui has been here once and has accepted an invitation for a second State Visit.

During his second trip to Taipei in 1995, His Majesty clinched one of the most lucrative investment deals ever by an African Head of State abroad, a one-billion Emalangeni investment by Taiwan’s giant textile and petrochemical company, Tuntex, with promises of thousands of jobs for Swazis.

Save for the volcanic industrial relations climate in the country, the fruits of the Sovereign’s efforts would have long borne fruit.

The Taipei government in a further display of the strengthened ties between the two countries, also contributed handsomely to the E44 million Enterprise Fund launched by His Majesty in November 1995.

The launching of the Fund which started disbursing loans last year, was a realisation of the King’s dream of franchising Swazi small and medium scale businesses.

Launching the Fund, His Majesty noted that while Swazis had the ideas and the determination to start their own businesses they lacked the financial support launch pad to start their businesses.

"Our future economic survival will depend on our ability to stimulate investment not just from outside, but more importantly, from among our own people, and using our own resources," he said.

But in the same breath the King warned against wastage, saying only those business ventures with a reasonable chance of success would be assisted, adding: "The Fund can only succeed itself on the basis of repayment from those borrowing the money".

The King further encouraged Swazis to adopt the idea of joint ventures, saying such a combination of human and financial resources and ideas "often make for more realistic projects, and onces that stand a better chance of success".

Cautioning the managers of the Fund, the King said the responsibility of the lender to the borrower should not end when the cash is handed over, saying it is in everyone’s interest that these projects succeed. He called on the Fund managers to give continuous support; advice, training, encouragement "so that our small and medium business sector can really benefit from this scheme, and the economy of the country can grow from our own efforts".

His Majesty singled out the Republic of China for praise for their support of the scheme.