LOBAMBA – The people’s budget!
Neal Rijkenberg, the Minister for Finance, yesterday tabled a budget that speaks directly to job creation, a total of 223 854 jobs in a country with a population of about 1.2 million people.
The figure represents both jobs already created and those expected to be created through ongoing and planned government projects and programmes. Rijkenberg presented his eighth national budget since assuming office in 2018. The budget for the 2026/2027 financial year is E36.92 billion. The next financial year begins on April 1, 2026 and ends on March 31, 2027. The minister said the holistic Mkhondvo Ngwavuma Water Augmentation Programme (MNWAP) was designed to create 100 000 jobs upon full implementation when both dams are completed.
The minister said recent studies showed that Eswatini now has 70 000 micro, small and medium enterprises (MSMEs) employing over 90 000 emaSwati, contributing significantly to the national gross domestic product (GDP). It must be said that these enterprises form a vital part of the economy, with 74 per cent based in rural areas, mainly in the retail sector, while agriculture remains the most dominant in terms of employment. To support this sector, the minister said government has rolled out several financing schemes, including the Informal Traders Revolving Fund, the MSME Revolving Fund, the Small-Scale Enterprise Loan Guarantee Scheme and the Export Credit Guarantee Scheme.
According to Rijkenberg, E56 million has been disbursed under the SME Revolving Fund, resulting in the creation of 3 096 jobs. The Small-Scale Enterprise Loan Guarantee Scheme has supported 146 businesses to the value of E35 million, further driving enterprise growth and job creation.
Through the MSME Capacity Development and Sector Support (CDSS) programme, he said government has also trained over 1 500 entrepreneurs from various Tinkhundla in entrepreneurship, business planning and financial literacy. In addition, he said 123 businesses are being supported under the Incubation Programme, which helps small enterprises develop their business acumen and expand operations. In his speech, the manufacturing sector also features prominently in the job creation drive. He said government has completed and handed over the Gamula and Ndzevane factory shells, which are expected to create 1 500 jobs. He mentioned that the construction of new factory shells at Ngwenya, Pigg’s Peak and Sigwe is underway, employing over 200 people during the construction phase. He pronounced that these factories are expected to be completed in the 2026/27 financial year. The minister for finance also disclosed that the Johnson Workwear factory in Nhlangano has been completed and is expected to become operational this year, with anticipated employment for over 2 000 people.
Rijkenberg also highlighted that the Opium and Habit-forming Drugs (Amendment) Bill, 2025, which was gazetted towards the end of the last parliamentary session, is ready for tabling. Once enacted, he said it was expected to move many people from informal to formal employment, thereby creating thousands of new jobs. In agriculture, the minister said the 2024/25 maize season delivered 3 530 metric tonnes, marking the programme’s strongest performance to date. For the 2025/26 season, 248 farmers (comprising 192 men, 56 women and 21 youth) who qualified for government support.
According to the minister, they received farm inputs worth over E18 million, cultivated 1 861 hectares and are projected to produce 7 444 metric tonnes of maize. These trained farmers represent another layer of job creation, empowered to be self-employed and contribute to food security.
Government also launched the Smallholder Agricultural Productivity Enhancement and Marketing Project (SAPEMP), an E851 million investment aimed at transforming Eswatini’s rural economy. The eight-year, multi-partner programme, supported by IFAD, the Green Climate Fund, government and private partners is expected to uplift 19 600 households, benefitting over 117 000 citizens, while prioritising women, youth and vulnerable groups.
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The Minister of Finance, Neal Rijkenberg delivering the 2026 National Budget. (Pic: Joseph Zulu)