ENIDC to facilitate for more business funds
EZULWINI – Norsad Capital and the Eswatini National Industrial Development Corporation (ENIDC) have signed a Memorandum of Understanding (MoU) to enhance cooperation and collaboration on technical matters, co-investment and possible portfolio management.
The MoU was signed yesterday at the Happy Valley Hotel and Norsad Chief Executive Officer (CEO) Kenny Nwosu said it was a significant step to strengthen their growth and commitment to impacting the lives of emaSwati.
Norsad is an investor and private credit provider that offers debt solutions to profitable growth-stage companies that deliver desirable social impact in Africa.
“We play a catalytic role in driving economic and financial growth, social advancement, and environmental sustainability,” mentioned the CEO.
ENIDC was established by the Government of Eswatini through the National Industrial Development Corporation Act as a public enterprise, with the aim of promoting industrial development in Eswatini.
Excited
During the ceremony, Director of micro small and medium enterprises (MSMEs) Mluleki Dlamini said the country was more than excited when these businesses become effective and impactful players in the global trading space. He said the need for business finance was unlimited, the resources were always curtailing any determination to present every business with such an opportunity.
“Such growth is only possible when more resources are injected into the businesses. It goes without debate that the most critical of these resources are finances, which are not only required for the production stage, but are also fundamental in transferring the produce to the clients’ doorstep no matter where they are in the world,” he said.
The director added that the
Government of Eswatini has provided numerous facilities suitable for almost every type of business and at every corner of the country.
“Despite this outreach, the resources can still not be enough. As we notice that some of the emerging businesses possess high level of innovation, are infusing a little more advanced skill towards value addition and are as well brave to tap into very new markets, where prices are much better, we cannot ignore the fact that with such adventure, comes higher risks,” he added.
Dlamini also mentioned that the partnership was a good stride towards attaining the United Nation’s Sustainable Development Goals, empowering nation’s industries and alleviating poverty. ENIDC Managing Director Muzikayise Dube added that it was imperative that they continue offering finance to businesses as it assist improve their performance.
“We want to make sure that there’s a short gap as much as possible, between the client and funds,” he added.
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