Sunday 2022-06-26




By Sifiso Nhlabatsi | 2022-06-26

Eswatini Development Finance Corporation (FINCORP) Group Managing Director Dumisani Msibi has advised young entrepreneurs to look for extra opportunities within the value chain of their final product.

“That is where much better returns are realised. That is how you can optimise your efforts, eliminate waste, and improve your profitability as a business,” he said.

Msibi was addressing 50 young entrepreneurs who were graduating on Tuesday under the Junior Achievement Eswatini (JAE) and the United Nations Populations Fund (UNFPA) Youth Entrepreneurship Programme aimed at fostering adolescent sexual and reproductive health (ASRH) issues in entrepreneurship.  

Prior to their graduation, some of these entrepreneurs got an opportunity to present their business proposals to FINCORP and were considered for funding. Msibi confirmed that they were impressed by the quality of the business proposals of those who came to pitch for funding at the company’s head office.

He further told them to attend to the few things that they were advised on, and then come back to apply for funding at any FINCORP branch closer to them. 

“One of the critical things we encourage you to do, is to be innovative but practical. “For instance, most of the businesses of those who came to pitch to us were agricultural. However, we noted that your key focus is on selling primary production with less value addition initiatives. That should be the next level as you move forward,” he said. 

Msibi further congratulated the three young entrepreneurs who won seed capital worth E10 000 each. “accept your award with humility and dedication, and continue with the excellent work that you do.

“Even if you do not get anything today, the fact that you participated in this programme and graduated today, is in itself a big reward. Please keep the momentum going,” he said.
The graduation was graced by Representatives from UNFPA, ministry of commerce, industry and trade and Junior Achievement.

The 50 young entrepreneurs graduated after participating in the six-month mentorship programme.

At least 26 businesses from the project were registered with the registrar of companies.  This was commended by Registrar of Companies Msebe Malinga.  A total of 15 businesses are operational while the others are ready and awaiting funding.  

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