A total of 20 owners of Small Medium Enterprises (SMEs), who had been training through the Small Enterprises Development Company (SEDCO) under the MTN – CIJA Ngebhizinisi Entrepreneurship Training, stand a chance to win themselves E10 000 each.
Only the top five will win and share E50 000, which has been put up for grabs.
This was announced by SEDCO Chief Executive Officer Khethiwe Mhlanga during the closing ceremony of the five-day training programme.
Mhlanga applauded the partnership between SEDCO and MTN Foundation, which seeks to disseminate knowledge on best business practices for the growth of SMEs in Eswatini.
“Different studies have shown that about 70 per cent SMEs fail within their first two years of starting up. This can be largely attributed to lack of business management capacity by the owners of the enterprises, especially regarding record keeping and financial management,” she said.
She stated that as SEDCO they believed that the training would give them the tools they need to sustain their businesses.
“I wish you all the best of luck as you wait to see if you are one of the lucky winners of the E10 000 prize towards recapitalising your enterprises,” she said.
She concluded by pointing out that SMEs were the backbone of any thriving economy and the country as this sector contributed about 45 per cent to the GDP and provided employment opportunities for a large proportion of the economy, especially youth and women.
Written by Slindzelwe Nxumalo- Eswatini Observer