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Let’s resuscitate the E1.6 billion investment vision

Business Section

By The Editor - SWAZI TIMES-02-Sep-2009

Let’s resuscitate the E1.6 billion investment vision

Sir,

Thank you Sir for allowing me space to voice my concern in your widely read news paper. The vision was the most brilliant idea ever by a leader of a country, especially our own, His Majesty King Mswati III.

It showed that he has a fatherly love for his subjects, he showed his passion to lead a nation shows that his people do not languish in abject poverty and misery. He sacrified his time and luxury and stayed at Mavuso Trade Fairís Job Summit day and night week long just to see to it that all Emaswati were afforded a chance to develop themselves and not to be reduced to beggars.

Pledges

The summit finally seemed headed for a tremendous breakthrough, with some of the local financial giants making substantial pledges, making the kingís dream a reality. Pledges were made and E1.6bn was born and became the talk of the day.

Initially the king seemed to have his own ideas on how to initiate his vision, but it appeared much fairer and wiser not to source outside finance at the expense of local financial power houses. Was it so? At the end of the summit the king was glad that at last he was going to be called to open a Swazi owned business enterprise born out of the summit. The king, with all the confidence, went on to pronounce that 50 000 jobs were now expected to be rolled out within one year.

Since the stumbling block of securities and collaterals would be set aside, every aspiring Swazi business entrepremuer would access finance much easier.

Eradications

The king also announced to the international community how dialogue has produced good results for the Swazi Nation of an E1.6bn investment fund for poverty eradication without any conflict or strikes. Oh! What a great precedent to other nations.

In-spite of this magnificent and fascinating endeavour, the dream was not to be. What went wrong? Where did we go wrong as a nation? Now the most astonishing question is; who is to blame? Some may point fingers to government and Prime Minister, or Minister of Enterprise, the financial institutions on even the king himself. I am not saying so.

It is the Swazi business community including myself who actually failed the king. Believe me or not, this is true. I am not trying to please anyone here; itís a matter of fact! Okay! Is it not us whom the king wanted to benefit? So when things didnít work out, what did we do? Nothing! Except to push the blame elsewhere.

We were supposed to stand up and come up with a strategy for government because the mind boggling question for government was, who was going to bear the brunt should millions of Emalangeni go down the drains due to unpaid loans. I want to tell the entire Swazi business community that there is a strategy, and if properly articulated can achieve 95 per cent in success.

Risk

The 5 per cent risk can be shared by the entire beneficiaries at an amount of not more than 15 of each loan. Government and financial institutions have nothing to loose! I have a whole package of scope to expedite the plan, but I cannot put it down here. I therefore appeal to all concerned parties especially the disadvantaged, to show up. I say, together we can make His Majesty proud and proud his intelligence surpasses all.

We can prove he is indeed the king of Africa. If this, gives you any reason to grow wiry, then please give me a call at 627 0240.

Mbabane.


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