Mbabane: The official launch of the E100 million Petroleum and fuel distributor will see 800 EmaSwati getting employed.
The new Petroleum and fuel company launched by Minister of Commerce, Industry and Trade Manqoba Khumalo on Monday is FuelEx Eswatini. The launch was held at Hilton Garden Inn hotel.
FuelEx Eswatini will directly hire 300 EmaSwati and 500 more indirectly. This brings the total EmaSwati who will be employed through this investment to 800 EmaSwati.
Minister Khumalo said the energy industry is a key sector in the economic recovery plan due to high impact opportunities it presents for economic stimulation. Therefore the entry of FuelEx will offer the country a direct benefit in terms of economic recovery.
Khumalo added that tackling unemployment forms a critical part of reigniting the economy. FuelEx Eswatini will offer EmaSwati a significant number of jobs, bringing employment and financial relief to many families who needed income to survive over the past months.
It is also hoped that the entry of FuelEx into the domestic market will stimulate entrepreneurship which will offer the country undeniable benefits in the long-run. FuelEx Eswatini will act as an enabler to those who either run or plan businesses in the fuel sector, expanding opportunities for job creation as new SMEs are formed.
Khumalo said the presence of FuelEx in the local industry will assist in overcoming the challenges of cross-border fuel supply in the land-locked country. This puts the Kingdom in good stead to become more domestic of the value-chain are driven from within local boarder.
FuelEx Eswatini Chief Executive Officer Christopher Jooste said his company has been in Africa for the past 10 years and aims to empower small businesses within Eswatini and along the vicinity of the company’s depot. “We promise Eswatini that we are here to stay. “ Jooste said.