Eswatini targets an 80% MSME-controlled economy

By Delisa Magagula

Eswatini aims to grow its economy to a point where 80 per cent of economic activity is controlled by Micro, Small and Medium Enterprises (MSMEs), up from the current 45 per cent.

This was announced by Minister for Commerce, Industry and Trade Manqoba Khumalo (MP) during the opening of the Eswatini MSME Conference 2025 at the Royal Villas in Ezulwini on Monday.

Khumalo said the government aspired to emulate countries such as Taiwan and China, where MSMEs account for between 80 per cent and 90 per cent of economic activity, noting that Eswatini’s long-term vision is to empower local enterprises to drive growth, job creation, and innovation.

“Eswatini aspires to reach a point where 80% of the economy is in the hands of MSMEs. Across the world, MSMEs are engines of employment, innovation, and inclusive economic participation. They are the backbone of our national economy,” said Khumalo.

The Minister further said that MSMEs were central to job creation, women and youth empowerment, and the diversification of the economy, but continued to face barriers, including limited access to finance, certification, digital transformation, and market access.

He said the government remained committed to creating a coherent and enabling environment to help small businesses thrive and contribute more meaningfully to national development.

“Our role as government and stakeholders is to clear the path, reduce the barriers, and build a system that works for them one that finances their ambitions, equips them with skills, connects them to markets, and rewards innovation and quality,” Khumalo said.

The Minister commended the Ministry of Commerce, Industry and Trade for leading the MSME agenda, and acknowledged the support of the United Nations Development Programme (UNDP), describing its contribution as catalytic in transforming the MSME ecosystem.

He highlighted ongoing initiatives including the Citizen Economic Empowerment Act, the establishment of entrepreneurship hubs, and digital integration programmes, which are designed to increase MSME participation in the national economy.

The three-day conference brings together entrepreneurs, financial institutions, academia, private sector players, and development partners to discuss strategies for accelerating MSME competitiveness and resilience.