MBABANE – SEDCO is committed to providing business development services and assist with incubation facilities to enterprises operated by members of the FESBC.
This was disclosed by Small Enterprises Development Community (SEDCO) CEO Khethiwe Mhlanga. She was speaking during a signing of a Memorandum of Understanding (MoU) with the Federation of Eswatini Business Community (FESBC) at the company’s offices in Mbabane last Friday. “Working together is a necessity as we need to mould our entrepreneurs. Our SMEs must have a conducive environment to flourish to ensure their sustainability and growth,” she said.
Mhlanga said the COVID-19 pandemic was continuing to present multiple challenges for businesses, particularly small and medium-sized enterprises (SMEs) in both the formal and informal sector, affecting supply and demand.
“The responsibility is on both our organisations to ensure efficient use of limited resources by adopting a collaborative and coordinated approach in our efforts. Recent statistics indicate that 70 per cent of start-up businesses fail within the first two years of operations due to lack of capacity development and mentorship,” shared Mhlanga.
The CEO stressed that SMEs certainly required the support of all stakeholders in order to thrive during such a difficult time. “We are mindful that as we support entrepreneurship in the Kingdom of Eswatini, we must be inclusive by ensuring that there is economic empowerment to our youth and women,” she said.