By Thokozani Mazibuko
Junior Achievement Eswatini has awarded 16 young entrepreneurs with a seed capital of E160 000 through the business shower programme.
Each entrepreneur was awarded a seed capital of E10,000 by the Minister of Commerce, Industry, and Trade Manqoba Khumalo through the Director of Micro Small and Medium Enterprises (MSME) under the Ministry of Commerce,
Industry, and Trade, Mluleki Dlamini, on Saturday during the awarding ceremony held at the Mavuso Trade and Exhibition Centre during the Eswatini International Trade Fair.
“Once again, we gather here to celebrate the remarkable young individuals who have made the courageous decision to start their businesses and contribute to the growth of our country’s economy.
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This was a momentous occasion, and each one of you should be proud of your journey,” said the minister, who spoke through the voice of Dlamini when making his remarks.
The minister pointed out that they launched this project just a few days ago, and he was aware that all the participants had been looking forward to this day with great anticipation.
“The energy in this room is palpable, and it fills me with excitement to hear about the positive impact that the young entrepreneurs here have experienced through the Eswatini International Trade Fair (EITF) initiative,” Khumalo said.
The minister said this represented a great milestone for them as a government.
He said it was truly inspiring to see young people networking with their clients and engaging with larger companies in such a dynamic forum.
“This interaction is vital for your growth and success. I am very certain that you all aspired to be among the winners of the seed capital.
I understand the critical needs that you have within your businesses, and that desire is what drives you forward. However, as with any competition, there are only 16 winners,” he said.
The minister urged those who received the seed capital, to ensure that they utilized it profitably to grow their new businesses.
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He pointed out that this was not just an opportunity for them, but it was a responsibility to make the most of the resources provided to them.
“Congratulations to each of you for your hard work in developing your business plans and for participating in this pitch competition. Your dedication is commendable,” he said.
Khumalo further encouraged the young entrepreneurs to continue engaging with various platforms, such as the Youth Enterprise Revolving Fund (YERF),
Eswatini Development Finance Corporation (FINCORP), Rural Development Fund (RDF), Eswatini Bank Small, Micro, and Medium Enterprise (SMME) Fund, and the Startup Credit Guarantee Scheme.
He said these resources were here to support their young entrepreneurs on their entrepreneurial journey.
“Rest assured, the government will continue to prioritize youth programmes, striving to create employment opportunities for the citizens of our country. Together, we can build a brighter future,” he said.
Junior Achievement Eswatini Executive Director Phetsile Masilela pointed out that they had 40 young entrepreneurs who pitched their business plans during the competition and their highest score was 85 per cent.
She mentioned that what they noticed was that the young entrepreneurs who started the JA programmes whilst in school were doing extremely well during the business pitching exercise and were more confident compared to those who never undertook the programme.
She, therefore, urged parents to encourage their children to enrol in JA programmes whilst at school because they (programmes) build a lot of confidence in young people.
She pointed out that some of the young entrepreneurs did not lose the competition because they did not know how to pitch their business plans, but rather she said they lost because they lacked confidence.
“They lost because of lack of confidence to tell their story in a very short space of time,” she said.
She further thanked all their partners in FINCORP, Public Service Pensions Fund (PSPF) and Umelusi Fund Managers, who contributed towards the success of the programme.
Richard Tsabedze from Pishoni Investments one of the companies that received seed capital from the business shower programme, extended his heartfelt appreciation to JA Eswatini and the sponsors of the competition for their generous offer.
He pointed out that they were going to use the seed capital profitable so that their business would grow in leaps and bounds.
