Manzini- The Ministry of Commerce, Industry and Trade is on the verge of introducing legislation aimed at reserving selected sectors of the economy and procurement opportunities for micro, small and medium enterprises (MSMEs), in what could mark one of the most significant policy shifts to empower local businesses.
Delivering his keynote address during the Manzini Regional Entrepreneur of the Year Awards on Monday, Minister of Commerce, Industry and Trade Manqoba Khumalo said regulations supporting the proposed Citizens Economic Empowerment Act had cleared the Attorney General’s Office and were expected to be tabled before Cabinet this week.
The Minister said the legislation seeks to ensure that MSMEs benefit directly from government spending through preferential procurement while protecting certain sectors of the economy from being dominated by foreign-owned businesses.
“We are working on the Citizens Economic Empowerment Act, as well as the National MSME Policy covering the period 2024 to 2029,” Khumalo said.
“As a ministry, we are seeking to secure preferential procurement. Where there are big government projects, projects with parastatals and projects by the private sector that enjoy government incentives, we want embedded in legislation preferential procurement for MSMEs,” he noted.
He said the proposed law would also reserve specific sectors of the economy exclusively for emaSwati-owned enterprises.
“We also want to preserve certain sectors of the economy. The regulations have just passed the Attorney General’s Office. I am hoping to present these regulations to Cabinet this week and, once approved, take them to Parliament because we want to make this a reality.”
Khumalo said the move was intended to address concerns that local businesses were being crowded out by foreign competitors operating in sectors that citizens were capable of serving.
“We love foreigners and we love investors, but we want investors who invest in areas where we cannot invest ourselves. We also welcome foreign skills, but we want skills that we do not already have. If we do not do that, then we become our own worst enemies as MSMEs,” he said.
The minister stressed that MSMEs remain central to Eswatini’s economic development, describing them as the foundation of the country’s economy rather than a peripheral sector.
He also highlighted strong entrepreneurial activity in the Manzini Region, revealing that 101 of the 362 entries received nationally for this year’s Entrepreneur of the Year Awards came from the region.
According to Khumalo, the entrants represented a broad range of industries, including business services, retail and agriculture. He noted that women entrepreneurs accounted for 56 of the Manzini applications, representing approximately 55 per cent of the region’s entrants.
He further pointed to Manzini’s strategic role in the country’s economy, saying the region’s industrial base, led by Matsapha, provides businesses with access to major manufacturers, suppliers and markets, creating favourable conditions for enterprise growth.
Khumalo said the ministry would continue implementing measures to make it easier for businesses to formalize, grow and participate meaningfully in the country’s economic development.
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