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Eswatini Sugar Association generated over R7billion revenue despite global challenges,Chief Executive Officer(CEO) Banele Nyamane says $98million circulating within the economy.

Tuesday, 9th July, 2024

MBABANE:Banele Nyamane,the Chief Executive Officer(CEO) of the Eswatini Sugar Association(ESA) says,the organization managed to generate R7.4billion despite global challenges within the sugar industry.

Addressing a press conference on Tuesday,the CEO said R6.5billion was distributed to members of the Sugar Association,he described the amount distributed as the highest ever.

“Out of the R7.4billion, what we then distributed to the members of the Association was R6.5billion which is also the highest we have ever got”, said the Chief Executive Officer(CEO).

The Eswatini Sugar Association CEO further mentioned that,out of the R6.5billion,the sugar farmers benefited R4.1billion adding that, the sugar growers were able to receive better returns despite a significant drop in volumes.

“What pleases us is that we brought back into the country $98million and also €36million which is a very significant contributor in terms of the foreign currency reserves for the country”,said the Eswatini Sugar Association Chief Executive Officer(CEO).

Eswatini Sugar Association generated over R7billion revenue despite global challenges,Chief Executive Officer(CEO) Banele Nyamane says $98million circulating within the economy.
Eswatini Sugar Association(ESS) Chief Executive Officer(CEO) Banele Nyamane.