By: Nkosiyabusa Nsibande
The most significant figure to emerge from the Lubombo Regional Entrepreneurship of the Year Awards was not the number of businesses recognized or even the impressive participation by women entrepreneurs. Instead, it was the confirmation that FNB Eswatini and the FNB Foundation have invested more than E2 million as the Legacy Partner of the Entrepreneurship of the Year Awards. In an economy where access to finance remains one of the biggest constraints facing small businesses, such a financial commitment represents far more than corporate sponsorship. It signals growing private sector confidence that entrepreneurship is an investable asset capable of delivering measurable economic returns.
For financial institutions, enterprise development is increasingly shifting from corporate social responsibility towards long-term economic investment. Every successful small business contributes to the expansion of the formal economy through employment, tax revenue, increased demand for financial services, and stronger domestic production. By supporting programs that identify and strengthen promising enterprises, financial institutions are effectively investing in the banking sector’s future customer base while contributing to broader economic growth.
The Entrepreneurship of the Year Awards have therefore evolved beyond recognition alone. They have become part of Eswatini’s enterprise development infrastructure, identifying businesses with the potential to scale, improve governance and compete within formal markets. Awards of this nature reduce information gaps between entrepreneurs and investors by highlighting enterprises that have already demonstrated operational resilience, commercial viability, and compliance with recognized business standards.
The Lubombo competition itself reflected encouraging indicators of entrepreneurial activity. The region submitted 87 business applications, with women accounting for 73 percent of participants, the highest level of female representation in the Kingdom. From an economic standpoint, these figures demonstrate that entrepreneurship is becoming increasingly inclusive while simultaneously expanding the country’s productive capacity. Higher participation translates into a larger pipeline of businesses capable of creating employment, generating household incomes, and contributing to domestic economic output.
The government’s policy direction complements this growing private sector investment. During the awards ceremony, the Minister responsible for Commerce reaffirmed that micro, small and medium enterprises remain the backbone of Eswatini’s economy. Legislative reforms such as the Citizen Economic Empowerment Act, implementation of the National MSME Policy 2024–2029 and initiatives including the Ingelo Certification Scheme are intended to improve the business environment by strengthening competitiveness, enhancing market access and creating opportunities for citizen-owned enterprises to participate more effectively in the formal economy.
The businesses recognized at the regional awards demonstrate the diversity of sectors that attract entrepreneurial investment. Eli Olivia Khoza, operating from Mpolonjeni, was honored as the Regional Outstanding Agribusiness after building an integrated agricultural enterprise that combines more than 100 head of cattle for dairy and beef production with crop cultivation across 10 hectares. Revenue is generated through beef supplied to established butcheries, fresh emasi sold nationwide, and crop sales supported by commercial buyers such as Swaziland Milling. The business illustrates how diversified agricultural operations can improve cash flow stability while reducing exposure to fluctuations in individual commodity markets.
Other award recipients further highlighted the breadth of Eswatini’s MSME economy. Efence Investments was recognized as the leading youth-owned business; MBT Farmers Trade received the woman-owned business award; Ncamis Hand Design excelled in the handcraft category; The Pastry Deluxe Restaurant emerged as the leading street vendor; and Jojo Grocery secured recognition as the region’s outstanding start-up business. Together, these enterprises represent sectors that continue to broaden the country’s economic base beyond traditional industries.
The participation of development partners, including ENPF, Taiwan ICDF, FINCORP, and Infinity Links, further strengthens the financial ecosystem surrounding entrepreneurship. Their involvement demonstrates that enterprise development increasingly requires collaboration among commercial banks, development finance institutions, and public-sector agencies. Such partnerships improve access to technical support, financing opportunities, and market development programs, enabling businesses to move beyond survival towards sustainable growth.
From an investment perspective, the E2 million commitment carries significance beyond its monetary value. It reflects confidence that Eswatini’s MSME sector can generate sustainable returns if supported through the right combination of finance, policy reform and enterprise development. As more financial institutions recognize entrepreneurship as a driver of economic expansion rather than simply a beneficiary of development assistance, the country’s business ecosystem is likely to attract greater investment, stimulate innovation, and accelerate the emergence of competitive citizen-owned enterprises. That trajectory aligns closely with the national ambition of building Liswati-owned billion-emalangeni businesses capable of creating wealth, employment and long-term economic resilience.
