By Bongiwe Dlamini

EZULWINI:Nathie Dlamini,the Chief Executive Officer(CEO) of the Business Eswatini says,the country must work towards reducing dependence on imported energy.

Speaking during the official opening of the European Union(EU) Green Power Transformation Forum at the Royal Villas-Ezulwini on Monday,Dlamini who was representing the business community suggested that,instead of relying heavily on imported energy, eSwatini must bolster in-country generation capacity.

“As the representative voice of the business community,Business Eswatini recognizes the pressing need for the country to reduce its dependence on imported energy and bolster in-country generation capacity instead. As you will undoubtedly agree with me,Eswatini’s heavy reliance on South Africa and Mozambique for 80 percent of its power requirements exposes the country to a range of strategic and geopolitical vulnerabilities.In mitigation of these, the private sector is willing to take a proactive approach by investing in and promoting the development of renewable energy projects in Eswatini.As our research can confirm,it would be prudent and indeed almost necessary to focus on two key sources of renewable energy: Biomass and Solar,” said the Business Eswatini CEO.

Dlamini further noted that,the scope to leverage capital to fund climate programs such as the aforementioned,remains minimal. 

“Eswatini’s 2021 Nationally Determined Contribution (NDC) suggests that the country needs in the order $1.0 to $1.5 billion to achieve its climate goals by 2030; resources which are patently beyond our capacity. The 2021 Climate Public Expenditure and Institutional Review indicated that Eswatini received about $209 million from international financiers over 2015 to 2020 and that $103 million was leveraged as co-finance, mainly from domestic sources. The private sector’s participation in NDC actions, though nascent, is imperative. Banks and large companies, such as sugar corporations, are key potential partners. Eswatini adopted the Strategy to Enhance Private Sector Engagement for climate finance, but barriers include lack of affordable long-term financing, market imperfections which are ubiquitous, inadequate and enabling policies, perceived financial and technology risks, and high upfront capital costs,”he said.

On another note,the event event was graced by,among others, newly appointed Natural Resources Minister His Royal Highness Prince Lonkhokhela, Standard Bank Chief Executive(CE) Mvuselelo Fakudze, Natural Resources Principal Secretary(PS) Dorcas Dlamini and Enerst Mkhonta, the Managing Director of the Eswatini Electricity Company(EEC).

Other include include Skhumbuzo Tsabedze, the Chief Executive Officer(CEO) of the Eswatini Energy Regulatory Authority(ESERA), Fabian Kyrieleis,the Head of Corporation in the German Embassy in South Africa,Robert Adams, Charge’ d’ Affairs of the European Union(EU) Delegation to the Kingdom of Eswatini and Jan-Christopher Kuntze,the Cluster Coordinator Energy, GIZ South Africa,Lesotho and Eswatini.