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By Nomfanelo maziya | 2025-01-24
Business Eswatini (BE) will launch a State Business Relations structure to boost private sector growth.
This structure according to BE Vice-President Andrew le Roux, is an important step towards fostering a more competitive and sustainable private sector in the country.
Le Roux was speaking during the signing of a memorandum of understanding with the Trade Union Congress of Swaziland (TUCOSWA) yesterday.
The structure aims to identify and remove obstacles that hinder Eswatini’s competitiveness, according to le Roux. He emphasised the critical role of the private sector in driving economic growth, highlighting the need for increased competitiveness in the face of global challenges.
“Real sustainable economic growth comes from a private sector-led economy.
“For us to achieve that there are a number of things that need to be put into place, and primarily we need to be competitive,” he said.
He further explained that this new bilateral structure would facilitate closer collaboration between the private sector and government.
“This engagement with government can be so critical because a lot of those engagements can only happen at national level,” he said, emphasising the need to address international competition.
Recognising the challenges posed by the country’s landlocked status and exposure to global geopolitical tensions, le Roux emphasised the importance of a strong and resilient private sector.
“The less we are competitive, the more we will struggle as an economy.
“We are a small market, we are relatively isolated because we are landlocked and stuck in the crosswinds of geopolitical tensions, that we absolutely have no control,” said le Roux. He further stressed the importance of a strong tax base, a competitive minimum wage, and structural changes to enhance the country's competitiveness.
“But what we do have control over is how we respond to these challenges.
“And we can do that by making sure we are sustainable and competitive, relative to our neighbours. And for that to happen, we need structural changes,” he said.
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