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MANZINI - ENIDC is driving pipeline projects worth over E40 billion in collaboration with strategic development finance institutions and investors, spanning energy, agriculture, manufacturing and other priority sectors.
The Eswatini National Industrial Development Corporation (ENIDC) Portfolio Investment Executive, Mbongeni Gwebu, disclosed these during the Industrial Finance Seminar held at the ongoing Eswatini International Trade Fair, positioning the corporation as a catalyst for large-scale industrial investment.
In a presentation outlining ENIDC’s mandate and progress, Gwebu reiterated that the corporation is a development finance institution established by an Act of Parliament to advance industrialisation through job creation, export growth and GDP expansion.
He noted ENIDC was resuscitated in 2012 (with offices operational by 2016) and ‘complements’ existing financiers rather than competes with them, working alongside IDCE, EswatiniBank, FINCORP and members of the Bankers Association.
Gwebu emphasised a development-oriented funding model that backs both greenfield and brownfield projects, with a strong focus on value addition and processing across sectors to boost export earnings. He added that ENIDC supports private-sector projects of all sizes, with an eye to scaling promising ventures into larger industries.
ENIDC reported it disbursed a total of E2.596 million in the 2024/25 financial year, channelled to local enterprises. Within that total, loans worth about E0.872 million were approved and disbursed, while equity investments of E1.725 million were made across two companies (agriculture and manufacturing), reflecting 30 per cent and 25 per cent stakes, respectively. The funding sustained 83 jobs across four sectors during the period.
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E1.35m annual grants to boost industrial growth
MANZINI – ENIDC and the Ministry of Commerce will drive a five-year industrialisation plan, allocating E1.35 million in annual grants to empower MSMEs and large firms.
Minister for Commerce, Industry and Trade Manqoba Khumalo made the announcement during the Eswatini National Industrial Development Corporation (ENIDC) Industry Finance Seminar held yesterday at the MTEC Business Centre in Manzini.
He said ENIDC, under the mandate of the Ministry of Commerce, Industry and Trade, had been entrusted with a mission that touches the very heart of communities, not just funding projects for profitability, but restoring government’s public responsibility.
Khumalo explained that this mission is aligned with the 2023 Industrial Policy objectives and the ‘nkwe’ mandate, which prioritises projects that strengthen local value chains. He emphasised that industrial MSMEs must not only be included, but empowered to participate in the growth of the economy with ease and confidence.
The minister acknowledged the decline in Eswatini’s manufacturing value addition, saying this downward trend threatens both jobs and the foundation of industrial growth. In response, ENIDC has been tasked with establishing sector-specific funds to reignite growth and resilience in industrialisation.
Khumalo also announced the reactivation of the production incentive scheme, dubbed PIS 2.0, tailored to the current status quo as deemed fit by the Government of Eswatini.
He said the scheme targets the textile and clothing sector, which plays a major role in creating jobs for women and youth in the country.
*Full article available in our publication.
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