Business

MBABANE – The smallholder sugar cane growers of Eswatini are receiving a major boost as financial institutions and industry players rally behind the sector with significant sponsorships aimed at rewarding consistency and enhancing capacity.

Standard Bank Eswatini has announced a sponsorship of E85 000 towards the Most Consistent Growers category in the annual Smallholder Sugarcane Growers’ Competition, scheduled for Friday, October 3, at Phumulamcashi Community Training Centre in Siphofaneni.

“Smallholder sugar cane growers are the backbone of Eswatini’s sugar industry. By connecting them to global best practices and innovative financing, we are ensuring that they can compete locally and internationally,” said Mbongeni Maziya, Head of Commercial Banking at Standard Bank Eswatini, during the sponsorship announcement.

Maziya highlighted that the bank had consistently invested in the competition for the past four years, specifically rewarding the most consistent growers as part of its commitment to sustainable agricultural development. Meanwhile, FNB Eswatini has reaffirmed its long-standing partnership with the competition by injecting E100 000 into this year’s event.

Chantell Littler, Executive Head of Commercial Banking at FNB Eswatini, underscored the bank’s focus on aligning its financial support with the needs of the sugar industry.

“As a business, we understand the importance of agriculture, specifically sugar cane growing and production, in growing the economy and job creation. That is why we have focused on aligning our help with the specific needs of sugar cane growers across Eswatini,” Littler said. She further noted that FNB’s support went beyond financial rewards, extending into facilitating access to resources and knowledge aimed at increasing productivity and profitability for smallholder farmers.

Adding to the momentum, Ubombo Sugar Limited (USL) has significantly increased its sponsorship from E50 000 in 2023 to E120 000 for this year’s competition, a move aimed at expanding capacity-building efforts for smallholder growers. USL Managing Director Muzi Siyaya reaffirmed the company’s commitment to sustainable development and knowledge transfer within the industry.

“Our mission is the growth of knowledge for every sugarcane grower, which drives our investment in capacity building. We believe that when growers have the right tools, training, and incentives, the entire sector benefits,” Siyaya stated.

The combined sponsorships from Standard Bank Eswatini, FNB Eswatini, and Ubombo Sugar Limited amount to E305 000, signalling a strong show of confidence in the smallholder growers who remain pivotal to Eswatini’s sugar production and exports.

The upcoming competition will not only reward top performers, but also feature capacity-building sessions for farmers to gain exposure to modern farming techniques, financial literacy and sustainability practices.

Industry experts note that these investments come at a crucial time, as the sugar industry continues to navigate global price fluctuations, climate-related challenges and the need to enhance competitiveness in regional and international markets.

Ubombo Sugar Limited Managing Director Muzi Siyaya. (Pic: File)