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CIC, ESWATINIBANK JOIN HANDS

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 MBABANE – EswatiniBank and the Construction Industry Council (CIC) are celebrating a landmark partnership.


The reputable financial institution and the construction industry regulator have signed a memorandum of understanding (MoU). This transpired at the bank’s offices in Mbabane yesterday. Managing Director Zakhele Lukhele represented the bank while CIC was represented by its CEO Nhlanhla Dlamini.
Dlamini stressed that it was challenging times for the economy following the coronavirus outbreak, highlighting that it adversely impacted the industry in many ways.


“This has necessitated the Council to engage actively with stakeholders to provide solutions that will stimulate activity and hence ensure doing business sustainably in the long term.


“Signing of this MoU will provide an opportunity for industry players to have preferential access to financing options, notwithstanding the need for the Bank to consider the risk factors involved,” he said.


capacitated


In his address, Dlamini said that the cooperation between the organisations would provide a platform for industry to be capacitated on issues bordering on financial literacy, among other things.


Areas of partnership include strategically engaging to facilitate Eswatini firms and companies’ access to resources for development of operations as well as regulating the behaviour and promoting minimum standards and best practice for contractors, among others.


sustainable


“The objectives and values of this MoU are aligned to His Majesty’s vision for sustainable economic development, social justice and political stability,” he said.
Lukhele also celebrated the partnership, highlighting that the contractors would now know what to expect when approaching the bank for finance.
“The MoU will assist in ensuring the bank provides proper service to the construction industry. The bank will provide working capital and other banking services to contractors.


approach


“We commit to CIC that we will educate their stakeholders/contractors if they approach us and we will provide the required service that they need. We looking forward to this relationship with CIC and hope it will play a significant role in growing the construction industry as well as the country’s economy,” he said.
Meanwhile, CIC recently signed another MoU with the Ezulwini Town Council. 

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