By Zweli Martin Dlamini

Regardless of our different or diverse opinions and after criticizing Inyatsi Group Holdings and Montigny Investments in the ongoing tension with the Federation of Eswatini Business Community(FESBC),we must also direct the criticism to Government, banks and FESBC for their failure to capacitate local businesses resulting to the current or ongoing economic tension.

As the editor, on Saturday I published an article criticizing Inyatsi and Montigny now let me take on FESBC, local banks and Government.

The purpose of such constructive criticism is to assist in building our country, we must never allow ourselves to be driven by hatred against foreign investors when addressing such issues but be objective and criticize with an intention to correct and create a better life for all.

The first question is;where was FESBC when Inyatsi Group Holdings was busy buying companies and what prevented the federation from collectively facilitating the application of bank loans for its members to buy the companies that are now owned by Inyatsi Group Holdings?

But apart from bank loans,FESBC should encourage local businesspeople to subscribe to the organization or save money so that when an opportunity avails itself to buy some local companies, FESBC can finance the transaction and members will then pay the money back in installments.

A federation for eSwatini businesspeople that was established some years ago,should by this time, owning assets and billions that should be used as a collaterals for bank loans.

As we condemn what is described as a State capture as Inyatsi Group Holdings buys businesses,we must not forget that emaSwati have a tendency of failing to support each other, instead,they want to see anyone who is trying to do business falling so they can laugh.

Even the King himself tried to establish development Funds like the R44million and R50million Capacity Building, we must ask ourselves what is preventing businesses owned by emaSwati to strive in this country only for foreigners to be successful?.

As a journalist, I know that some of these Funds established by King Mswati were looted by emaSwati in the corridors of power, some were arrested but there were no efforts to recover the looted monies that were meant to support local businesses.

Even though we sometimes criticize King Mswati but the truth is; he tried to capacitate local businesses however, corruption whereby emaSwati with political power loot public funds with impunity and destroy efforts by the powerless to strive in business undermined those efforts.

But apart from corruption, as you read this, emaSwati have huge land in the communities but some are failing to utilize it.

The Swazis who try to do business are not supported by banks and Royal Kraals(Imiphakatsi) normally claim ownership of land where the businesses strive and destroy everything, these are some of the challenges that should be addressed by the State and FESBC.

But if Neal Rijikernberg from Montigny Investments can come-up with an idea to use the land for a forestry business,he might successfully network with the traditional structures.

We must understand that, business is business whether it’s done by a foreigner or Swazi, we must only condemn unfair competition and the abuse of power to grab tenders, that’s the problem we are facing as a country.

Furthermore, as a country, we must investigate those foreign investors who came here with nothing only to steal public funds and ended-up being powerful billionaires and yield power against local businesses, foreign investors must come here with their money to invest not to steal from public coffers.

But having said that,local businesspeople must come together, contribute millions and buy businesses so they can compete with Inyatsi Group Holdings and Montigny,they must learn to support each other.

The truth is; most local businesspeople are broke because Government was failing to award them tenders and some of those who managed to do business with the State, were not paid in time and their businesses subsequently collapsed.

Banks and other financial institutions also played a role in sabotaging local businesses, the Public Service Pension Fund(PSPF) granted loans to Inyatsi and Montigny, perhaps FESBC as a collective must also prepare a proposal and approach the Pension Fund for a loan to buy some of the businesses like Inyatsi Group.

The issue here is not only about foreigners buying businesses but there are Government institutions that enabled this to happen.

But then,one would make an example; if Inyatsi Group or Montigny Investments approach the Pension Fund with a business proposal that will generate revenue for the Pension Fund in dividends, do we expect the Fund to reject the proposal just because it has been submitted by foreigners?.

Well, as emaSwati let us do an introspection to understand why every effort to empower businesses owned by emaSwati fails.

FESBC must introduce innovative ideas to empower local businesses but, it starts from establishing a fund to support its members and that fund must be sustainable.

We will continue to be the voice of the voiceless local businesspeople but we don’t want to discourage Foreign Direct Investments(FDIs) because by so doing, we will destroy the economy.

All we want is fair competition.