Swazi Observer

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EIPA CEO WANTS LOCAL INVESTORS

By Qondile Ntiwane | 2019-08-22

New Eswatini Investment, Promotion Authority (EIPA) CEO Sibani Mngomezulu has challenged locals to become investors in the country.

Interviewed during a luncheon held in his honour by Business Eswatini at the Ramblas Restaurant yesterday, the CEO said it was high time Emaswati become investors for the kingdom as opposed to relying on international investors.

He stated that there was a misconception that there were incentives in place only for international investors.

He said it was their wish to see locals investing in the country and also contributing in turning around the economy.

“Our mandate as EIPA is to be a one-stop shop for investors in the country and these does not only mean international investors. We want to see and work with local investors.

“I also want to correct the misconception of incentives being only for the international investors. This is an issue that has also been raised in parliament but I want to assure that there are incentives in place. The only challenge here maybe the requirements to access these incentives. The minister of commerce has, however promised to address these concerns,” he said.

Mngomezulu said he was confident of the economy turning around and also expressed delight in partnering with local businesses.

“I believe I came at the right time and am happy to be working with local business in pushing this agenda. My request is that we work and brainstorm together on how to improve our economy, job creation and after care for already existing business so they can continue to grow.

“I am grateful to Business Eswatini and am confident we will succeed in our endeavours,” he said. Mngomezulu was unveiled as the CEO last month, taking over the position left by Phumelele Dlamini about seven months ago. He was offered a three-year contract after undergoing a recruitment process by KPMG.

His experience included where he was responsible for commercial and risk management, investor relations, human resources and strategy and that he has been CEO for businesses in the industrial equipment and rail sectors.

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