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EZULWINI – Students from Gwamile Voctim in Matsapha have created a company that intends to supply bio-oil to the country’s farmers.

This was revealed by Enactus Eswatini’s Country Director Wonderboy Khumalo, as he received a cheque of E70 000 from Standard Bank Eswatini yesterday.

The bank’s contribution to Enactus is meant to assist the organisation in training tertiary students to become successful entrepreneurs at the end of their academic studies.

Bio-oil is a kind of liquid fuel made from biomass materials such as agricultural crops, municipal wastes, agricultural and forestry by-products via thermo-chemical processes.

It can be used as fuel in some diesel engines, and can also be used for a variety of other processes in agriculture.

“Standard Bank’s assistance has come at the right time as it will help us to strengthen business operations by our alumni. We are in the process of transforming five of our businesses into micro-industries.

“We do this in partnership with the United Nations Development Programme, and this contribution by the bank will go a long way in assisting us achieve this vision,” he said.

Standard Bank CEO Mvuselelo Fakudze, said it was the bank’s aim to support young entrepreneurs so that they became contributors to the country’s economic growth through the businesses that they operated.

“I would be pleased to have a measuring mechanism for the work done by organisations like Enactus. It would be nice to know where the youth that come out of college with such entreprenual training end up. We would like to know if they still operate those businesses that they started in college and whether they are successful. It would also be nice to know who these individuals bank with,” he said.