Standard Bank Eswatini CE Mvuselelo Fakudze says they invest over E750 000 yearly into inculcating the entrepreneurial spirit in Eswatini.
Fakudze, speaking at the Ematfuba Ami Awards ceremony at Royal Villas yesterday, said the bank’s corporate and social investment initiatives focused on catalising the country’s entrepreneurial spirit.
He said the catalysts included grassroots initiatives such as the Junior Achievement (JA) programme that targets high school pupils.
“We are especially proud of our partnership with RSTP as it is the capstone of all of our SME development programmes,” he said.
Fakudze said it was only through the Ematfuba Ami programme, that the bank offered seed capital and access to enterprise direct.
He said the bank prided itself in being able to further offer the recipients with financial coaching and financial solutions to equip them to grow their businesses.
“As a Bank, we also offer financing to SME businesses,” said Fakudze.
He explained that the financial institution had comprehensive products and services that could be tailored to the public’s business needs.
Access
“However, I must emphasise that while borrowing is an effective way to raise the equity you need to effectively run and grow your business, we encourage you to access debt only for revenue-producing assets as we have seen many promising businesses fail due to lack of discernment on how to use debt efficiently for business growth,” said Fakudze.
The CE emphasised that every problem in Eswatini had the potential to be a catalyst for successful innovation. “It is the innovators that hold the wealth. Innovation requires grit to pursue solutions and not necessarily profit,” he said.
He added that profit was a direct reward for excellence in pursuit for solutions that society can use.
