Times Of Swaziland: CIC, ESWATINIBANK JOIN HANDS

CIC, ESWATINIBANK JOIN HANDS
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BY ASHMOND NZIMA  on 27/03/2020 00:04:00


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.