MBABANE:Business Eswatini and the World Bank released a joint statement, emphasizing the need for a comprehensive growth strategy to enable the country to achieve it’s development aspirations.
“Eswatini needs a comprehensive growth strategy to meet its development aspirations according to a World Bank study conducted in collaboration with the Government of Eswatini.Today,Business Eswatini and the World Bank convened key stakeholders from government and private sector to discuss the, In Search of the Drivers of Inclusive Growth study which sets out strategies for setting Eswatini on a path towards higher growth which would in-turn unlock jobs and economic opportunities for the unemployed.The findings of the study highlight the need to encourage productive investments, technology adoption; enhanced skills in the labor force; improved access to finance; enhanced connectivity to access external markets; and upgrading of public sector performance.The meeting discussed findings from the report and ways in which the Government and private sector can generate a virtuous cycle of growth.Priority sectors highlighted for specific focus include digital services, eco-tourism, and agribusiness.The dialogue further explored ways for the World Bank to support and bolster Eswatini’s development.Eswatini remains one of the growing economies in the world,Real GDP rebounded to an estimated 4.8% in 2023 from 0.5% in 2022, driven by an increase in services and exports”, reads the joint statement in part sent to this Swaziland News on Thursday.
Dr. Victoria Kwakwa, the World Bank Group Regional Vice President for Eastern and Southern Africa said,by adopting intentional policies that stimulate investments in physical and human capital with a focus on productivity enhancement; Eswatini can set itself on a path of economic transformation.
“The World Bank is ready support the government to create a business-ready environment with both financial and technical assistance”, said the World Bank Group Regional Vice President for Eastern and Southern Africa.
The statement was released by Musa Maseko, the Head of Business Eswatini Commerce and Trade while Oarabile Minky Moilwa represented the World Bank.
Business Eswatini and World Bank emphasize on comprehensive growth strategy for the country to achieve it’s development aspirations(in this picture; stakeholders including United Nations(UN) Eswatini Resident Coordinator George Wachira and Commerce Minister Mancoba Khumalo.