Ezulwini – Today, Micro, Small, and Medium-Sized Enterprises (MSMEs) from a variety of industries gathered in a cooperative effort to pinpoint and resolve the issues that still impede their expansion and long-term viability.
The purpose of the meeting, which included financial institutions, government officials, business executives, and entrepreneurs, was to develop a common road map for a more encouraging and facilitating business environment.
Participants brought up a number of important concerns that MSMEs face during the discussions, such as lack of preparation, high operating costs, regulatory obstacles, social capital, and restricted access to funding. Numerous entrepreneurs also underlined the necessity of more robust government assistance in the form of market connections, tax breaks, and capacity-building initiatives.
One of the recurring themes of the forum was the importance of digital transformation. With the rise of e-commerce and technology-driven business models, Chief Executive Officer at Small Enterprise Development Company, Khethiwe Mhlanga, noted the need to invest in digital tools to remain competitive. However, limited knowledge and access to affordable digital solutions remain significant barriers.
James Manyatsi of the Centre for Financial Inclusion (CFI) brought out MSMEs’ lack of readiness during the panel discussion. By doing this, he claimed, all the services are available, but they turn to not checking the boxes in order to obtain financial aid.
“It is very embarrassing that in all the MSMEs in the country only four per cent were granted bank loans,” he said. Manyatsi added that a study has established that about 80 percent of the MSMEs are in the survival stage.
Meanwhile, Dr Thabo Saxolo from the Eswatini Economic Policy and Research Centre (ESEPRC) also urged MSMEs to confront social capital, which he said is in their control.
As MSMEs continue to play a crucial role in job creation and economic development, the gathering underscored the urgent need for coordinated efforts to remove systemic barriers. The outcomes of the meeting are expected to guide future strategies and policy recommendations that will strengthen the MSME sector and enhance its contribution to national growth.
Discussion about this post