By Ncaba Ntshakala
Prime Minister Russell Dlamini has lauded the significant E2.8 billion investment by Associated British Foods (ABF), the parent company of Ubombo Sugar Limited,
describing it as a resounding vote of confidence in Eswatini’s economy. During a recent courtesy visit by ABF CEO Paul Kenward,
the PM expressed the Government’s appreciation for the company’s pivotal role in driving economic growth and advancing energy security through innovative projects.
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Kenward was in the presence of Ubombo Sugar Limited Managing Director Muzi Siyaya.
Central to the investment is a major E1.5 billion power cogeneration project, set to elevate Ubombo Sugar’s capacity to export power to the national grid from 17MW to 40MW.
This ambitious project is expected to be operational by April 2027 and was said to represent a critical step in the Government’s agenda to enhance energy security by encouraging private sector participation.
The Prime Minister expressed that such initiatives not only reinforce the nation’s energy infrastructure but also highlight the country’s readiness to host substantial foreign investments in strategic sectors.
Complementing this effort is an additional E1.3 billion investment earmarked for expanding Ubombo Sugar’s mill capacity to process sugar cane from the Lower Usuthu Smallholder Irrigation Project (LUSIP).
This development promises to uplift smallholder cane growers and generate employment opportunities within the sugar value chain.
It is projected that at the peak of these initiatives, approximately 600 jobs will be created, providing much-needed economic relief.
Furthermore, E200 million has been set aside for local contractors, a move that is expected to catalyse local economic activity and enhance entrepreneurship.
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The Premier also commended Ubombo Sugar’s commitment to community development through its ongoing contributions to health and education facilities in the Big Bend area.
He said that such initiatives highlight the company’s dedication to improving the quality of life for the surrounding communities.
Adding to its impressive portfolio of contributions, Ubombo Sugar was recognized as the overall Best Tax Contributor for 2024, having remitted E500 million in tax contributions.
This accolade was further lauded as evidence of the company’s adherence to tax compliance and its broader economic impact on the nation.
Moreover, the Prime Minister highlighted that these projects align seamlessly with Eswatini’s development goals, which demonstrates the transformative potential of collaboration in building a resilient and inclusive economy.
Dlamini concluded by emphasizing the Government’s dedication to creating a conducive environment for investments, pledging co