By Bongiwe Dlamini

MANZINI: King Mswati says his wish is to see emaSwati becoming billionaires through legitimate businesses.

Speaking during the Entrepreneur of the Year Awards held at Mavuso Trade Centre-Manzini on Friday evening, the King said it was possible for emaSwati to become billionaires amid economic challenges influenced by COVID-19,among other factors hindering businesses growth in the country.

“We are pleased that the country initiated the Entrepreneur of the Year Awards competition because it inculcates a culture of excellence in doing business. This is why the Government continues to support the recognition of outstanding businesspeople with a view to showcasing their achievements.This also inspires other entrepreneurs to improve management practises in their enterprises.The country’s MSME sector plays a vital role in developing our economy, and it has a great growth potential. It employs approximately 92 000 emaSwati, which represents 21% of the country’s workforce. Furthermore, this sector is playing an active role in wealth creation, reducing poverty and generally improving the livelihoods of Eswatini,” said the King as quoted by Government online platforms.

The King said currently, there were approximately fifty-nine thousand(59 000) Small and Medium Enterprises(SMEs) generating a monthly turnover of E92.5 million. 

“This underscores the need to pay particular attention to this sector to ensure that it continues to contribute to employment and the real economy,” he said.