Swazi Observer

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EYA WINNERSâ€™ TURNOVER IN EXCESS OF E73M IN 5 YEARS

By Majaha Nkonyane | 2018-06-18

PREVIOUS Entrepreneur of the Year Awards (EYA) winners have over the past five years amassed over E73 million in turnover.

The figure was disclosed by Small Enterprises Development Company (SEDCO) CEO Dorrington Matiwane and it totals E73 491 319.72. He said the E73 million was drawn from a total of 70 EYA winners who currently employ 393 people. Matiwane was speaking during the launch of the 2018 EYA competition in a breakfast session held at Gigi’s Restaurant of the Royal Swazi Spa Hotel on Friday.

Matiwane said he was fully convinced that government would resuscitate the economy if it were to utilise small and medium enterprises (SMEs) as an engine for economic growth.

The CEO marvelled at countries which have come up with innovations such as SME stock exchanges meant to raise capital from their peers and prove themselves as innovators worthy of endorsement.

Collaboration, according to Matiwane, would also play a huge role in changing Eswatini’s economic quagmire. He implored government and the private sector to form collaborations to create a situation where both sectors know what the other is doing. He was confident that this would stimulate economic growth. Matiwane also observed the country’s average economic growth as being below one per cent, which presents a huge challenge for government to provide the very basic infrastructure expected to present a conducive environment for business to thrive. The country’s sluggish economic growth often exposes government to serious cashflow challenges. This is because taxes that come from the already struggling private sector form a huge part of government’s revenue. Matiwane encouraged SMEs to participate in the prestigious EYA as this platform provides an opportunity for entrepreneurs from all corners of the country to network.

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