Mbabane: The Minister of Commerce Industry and Trade Manqoba Khumalo has launched a new company on “Nthwese Development”, which will bring an investment of E2 Billion to the country creating about 1000 job opportunities.
The launch of the new company took place at Royal Swazi Convention Centre at Ezulwini on Friday morning.
Speaking during the launch the Minister of Commerce expressed his appreciation for the new company for choosing to come to Eswatini to invest during these hard times.
Khumalo said Nthwese Developments comes into the country with the construction of a new mall in Manzini valued at E2 Billion and which will create about 1,000 jobs. “This will definitely bring undeniable growth to Manzini city’s economy while also adding value to the country as a whole”, he said.
Khumalo said this was a very significant investment which is set to transform the economic landscape of the Kingdom of Eswatini.
“The launch of Nthwese Developments comes at a very critical point in the Kingdom, a period in which we continue to battle the global catastrophe that is COVID-19, which has called for all economies to adopt strategies aimed at reviving the economy”.
Khumalo highlighted that despite the CIVID-19 pandemic, the Ministry of Commerce, Industry and Trade, working through the Eswatini Investment Promotion Authority (EIPA), has a mandate to contribute to the country’s economy by attracting investment into the Kingdom.
As a Ministry, he said they were working tirelessly to create an enabling environment and support for the development and growth of business in the country, in line with the Strategic Roadmap 2019-2022 and the National Development Strategy 2018-2023.
Khumalo said they were pleased that Nthwese Developments is currently at a launch stage which means we will soon realize its contribution towards the growth of the country’s GDP and job creation, which will help in alleviation of poverty and create sustainable livelihoods.
The minister added that, Government, through EIPA, will continue to support and facilitate Nthwese Developments post the launch; liaising with all relevant stakeholders to create an enabling environment for ease of doing business in Eswatini.
Making his remarks EIPA Chief Executive Officer Sibani Mngomezulu said, EIPA is available to assist in sharing information needed to do business in Eswatini. He assured Nthwese Development that EIPA will assist them in initial set up as well as hand hold them through all processes even after you have settled.
He noted that the construction of the mall will not only bring jobs, but it will also encourage entrepreneurship in the country, allowing EmaSwati from every sector of the economy and segment of the population to participate in the new development.