GOVT IMPLORES IDCE TO ADD MORE SECTORS

 EZULWINI – Government has encouraged IDCE to increase participation in other key sectors such as mining, energy and the construction of factory shells (the build environment).

Minister of Finance Neal Rijkenberg said as the above sectors were a catalyst for foreign direct investment (FDI) ideally which His Majesty the King actively advocates for across all forums. Rijkenberg said they also implore the IDCE Board to continue steering the company towards sustainable growth by identifying and participating in worthwhile investments that assist to create jobs and improve the livelihood of the youth. The minister said the dividend announcement by IDCE was a reflection of the financial strength, operational excellence and confidence in the future prospects of the company.

“It reaffirms IDCE’s commitment to rewarding shareholders for their enduring belief in the company’s potential,” he said. Rijkenberg said in a time where fiscal prudence was paramount, this dividend served as a beacon of hope and progress. He said it reinforces their confidence in the resilience of the economy and the potential for prosperity, even in the face of challenges. He said as Minister of Finance, he was acutely aware of the significance of dividends from parastatals. He said they contributed to the national treasury, enabling them to fund vital public services, infrastructure projects, and social programs.

“This financial injection strengthens our ability to meet the needs of our citizens and invest in the future of our country,” he said. The minister highlighted that the national development strategy (NDS) had identified strategic areas that were key to economic development of the country.  He said within the wide scope of action that the NDS was aiming to achieve, the IDCE per its mandate focused and actively delivered on two key strategic areas in its quest to contribute to this government initiative.  “The two strategic areas are employment creation and industrialisation across all sectors of the economy,” he said.

He added that as custodians of shareholder value, IDCE remained steadfast in the pursuit of sustainable growth and profitability. He said the prudent financial management practices, coupled with astute investment decisions on the part of the IDCE Board have enabled the company to navigate through difficult economic conditions and emerge stronger.

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