Swazi Observer

FULL STORY

CABINET TASK TEAM TO DRIVE ECONOMIC GROWTH

By Nomfanelo Maziya | 2025-01-24

Government has taken a significant step towards accelerating job creation and economic growth with the establishment of a high-level Cabinet task team.

This multi-ministerial team, according to Minister of Commerce, Industry and Trade Manqoba Khumalo, will play a crucial role in coordinating and implementing key strategies aimed at boosting employment opportunities and lifting Emaswati out of poverty.

The task team, comprising ministers of commerce, finance Neal Rijkenberg, Economic Planning Dr Tambo Gina, Natural Resources Prince Lonkhokhela, ICT Savannah Maziya, agriculture Mandla Tshawuka, and Foreign Affairs Pholile Shakantu, will engage with both private and state-owned enterprises with the potential for significant economic impact.

Through a series of in-depth discussions, the team will meticulously assess the viability of these projects, identify critical government support needs, and facilitate their successful implementation.

“This team of ministers has already started meeting with the view of engaging with businesses, both private and state-owned, that have mega projects that will drive significant economic growth in the country.

We are interrogating each and every one to these projects with the view to ascertain their probability of success and determine what government needs to do in order to enable them to succeed.”

A key highlight of this initiative is the upcoming investment conference scheduled for April which the minister hopes will be hosted by the Head of State and the prime minister.

This event will bring together leading domestic and international investors to discuss and commit to projects that can drive substantial economic growth.

The government has set an ambitious target, of attracting over E30 billion in investments, a move that is expected to have a transformative impact on the nation's economy.

“Both existing businesses within the country and those with potential expansion plans, including those entering the country for the first time, will actually make their commitments known through pledges,” said Khumalo.

Recognising the vital role of small and medium-sized enterprises (SMEs) in economic development, the government was also implementing parallel strategies to empower this sector.

By fostering a more inclusive and supportive environment for SMEs, the government aims to address the current disparity where only 10 per cent of economic activity was driven by SMEs, compared to the 65 per cent observed in successful economies.

Furthermore, the government is undertaking a comprehensive review of its investment policy, to streamline the business environment and enhance ease of doing business.

This initiative aims to create a more efficient and investor-friendly environment.
“The revision of the investment policy should prioritise improving the business environment, from conceptualisation to execution.

“This includes streamlining processes, reducing turnaround time, and ultimately creating a one-stop shop where all necessary services are readily available in a single location,” said Khumalo.

share story