By Siphesihle Dlamini and Ncaba Ntshakala
The newly formed Business Federation of Eswatini (BUFE) has recently taken a major step in establishing its presence in the country’s business landscape by initiating discussions with Business Eswatini (BE) for potential collaboration.
This was the first time the two organizations have met face-to-face since BUFE’s inception. Notably, many of BUFE’s executive members were formerly part of the Federation of Eswatini Business Community (FESBC).
While the meeting was officially presented as a “meet-and-greet,” Business Eswatini took the opportunity to provide BUFE with an in-depth overview of its long-standing history.
BE’s journey stretches back over a century, having been established in 1916 as the Swaziland Chamber of Commerce.
It expanded its mandate in 1964 to become the Federation of Swaziland Employers, and in 2003, the two functions were merged to create Business Eswatini as it stands today, a pivotal apex body representing the country’s private sector.
Business Eswatini’s extensive contributions to Eswatini’s economy are well-documented. Over the decades, it has played a crucial role in advancing corporate governance, facilitating trade, and mobilizing investments in the country.
With a membership base that represents approximately 90% of the private sector’s contribution to the national GDP, BE’s influence spans over 22 sectors.
Its connections extend globally, as it maintains affiliations with organizations like the International Labour Organization (ILO), the International Organization of Employers (IOE), and COMESA’s Business Council, where it sits on the Board of Directors.
RELATED: MSMEs applaud Eswatini International Trade Fair 2024 for business growth
On the other hand, BUFE represents a new but promising addition to the business ecosystem in Eswatini. Its leaders have expressed a strong commitment to supporting the socio-economic interests of local businesses.
During the meeting, discussions between BE and BUFE centered on the potential for collaboration, particularly in areas where their objectives align.
Both organizations recognize the immense value of creating a shared platform where they can exchange strategies and insights, ultimately benefiting businesses of all sizes across Eswatini.
Key topics on the agenda included the importance of advocating for policies that enhance the ease of doing business in the country, attracting foreign direct investment, and enhancing job creation through closer ties between grassroots enterprises and large corporations.
Business Eswatini’s CEO E. Nathi Dlamini emphasized the importance of the partnership during the meeting, stating, “By collaborating with BUFE, we are strengthening our capacity to represent the diverse interests of Eswatini’s business community.
Our combined efforts will ensure that businesses in the country operate in an environment conducive to growth, innovation, and sustainability.”
RELATED: Eswatini Economy is stable to start a business- Minister of Finance
Thulie Dladla, President of BUFE, echoed this sentiment. “We see this potential partnership as a way to amplify the voice of domestic business in Eswatini.
Together, we can drive the kind of changes that will improve the overall business environment, foster healthy competition, and ultimately lead to a more prosperous Eswatini.”
The meeting concluded with BUFE presenting a series of proposals to Business Eswatini, which BE has committed to reviewing in the coming weeks.
Another consultative meeting is expected to take place soon, during which both parties will continue to explore ways to collaborate effectively and shape the future of Eswatini’s private sector.
