Minister of Finance Neal Rijkenberg unveiled three financial inclusion products today, aiming to support and expedite access to finance and related financial products. These initiatives fall under the Center for Financial Inclusion (CFI) Financial Inclusion and Cluster Development (FINCLUDE) program.
The first product, called the Youth Input Subsidy in Partnership with Eswatini National Agricultural Union (ESNAU), focuses on channeling resources towards empowering the country’s youth in the agricultural sector. Minister Rijkenberg emphasized the significance of encouraging young individuals to seize the wide range of opportunities available in agriculture. The FINCLUDE Project has identified several youth success stories that can contribute to the growth and advancement of this sector.
The second offering is the FINCLUDE Financing Instrument for Risk Management (FIRM) in collaboration with Eswatini Bank. Its primary objective is to enhance smallholder farmers’ access to productive credit. Moreover, there is potential for linking FIRM with the Government’s Small Scale Enterprise Loan Guarantee Scheme, creating a mutually beneficial scenario where these products complement each other.
The third product is the FINCLUDE Fund in partnership with Imbita Women’s Finance Trust. This initiative aims to promote a savings culture among beneficiaries through the trust, while also encouraging safe borrowing practices. The collaboration seeks to emphasize the importance of financial literacy, ultimately striving to establish a financially healthy and capable Eswatini.
Minister Rijkenberg expressed his enthusiasm for these financial inclusion products, highlighting their potential to foster economic growth and empowerment. The launch of these initiatives underscores the government’s commitment to addressing the financial needs of various sectors in Eswatini. By expanding access to finance and encouraging responsible financial practices, the nation moves closer to achieving sustainable and inclusive development.
These new products mark a significant step forward in Eswatini’s ongoing efforts to boost financial inclusion and stimulate economic growth. With the implementation of these initiatives, the government aims to create a conducive environment that empowers individuals and enterprises, leading to a stronger and more prosperous Eswatini.