SA’s en­vis­aged US$100bn in­vest­ment to ben­e­fit Eswatini

Observer on Saturday - - News -

Eswatini will ben­e­fit from South Africa’s as­pi­ra­tion to at­tract huge in­vest­ments to ad­dress slow eco­nomic growth, in­equal­i­ties and youth un­em­ploy­ment.

This is an as­ser­tion made by South Africa’s act­ing High Com­mis­sioner to Eswatini, Cur­tis Singo, on the oc­ca­sion of cel­e­brat­ing the Na­tional Day of South Africa on Thurs­day evening at the Royal Vil­las.

Singo in his re­marks dis­closed that ear­lier this month, South African Pres­i­dent Cyril Ramaphosa ap­pointed eco­nomic en­voys to look for US$100 bil­lion (about E1.2 tril­lion) in­vest­ment to ad­dress slow eco­nomic growth, in­equal­i­ties and youth un­em­ploy­ment.

He said this as­pi­ra­tion will not only ben­e­fit that coun­try alone, but also coun­tries in the re­gion, in par­tic­u­lar, Eswatini. He said later this year Pres­i­dent Ramaphosa will con­vene an In­vest­ment Con­fer­ence that will of­fer op­por­tu­ni­ties to ad­vance and ac­cel­er­ate re­gional devel­op­ment while ad­dress­ing na­tional in­ter­est.

Singo re­mem­bered the ba­sis the late pres­i­dent Nel­son Man­dela laid for the demo­cratic South Africa to pur­sue where on the eve of be­com­ing the first demo­cratic elected Pres­i­dent. Man­dela re­minded all South Africans that their coun­try was an in­te­gral part of the South­ern African Devel­op­ment Com­mu­nity (SADC) re­gion with its des­ti­na­tion linked to that of the African con­ti­nent, which is much more than a mere ge­o­graph­i­cal con­cept.

“This as­ser­tion guides our for­eign pol­icy im­ple­men­ta­tion with much fo­cus on the African con­ti­nent as a pri­or­ity. It is, there­fore, nec­es­sary to share with you that in hon­our of this de­parted strug­gle icon, our gov­ern­ment ded­i­cated 2018 a year of re­newal. There­fore, driven by this ex­pres­sion, Pres­i­dent Ramaphosa has ex­tended the re­newal year to the dawn, which as I ad­dress now is al­ready dawn­ing,” said Singo.

New dawn

Singo, there­fore, called upon the busi­ness com­mu­nity of Eswatini to zoom into Pres­i­dent Cyril Ramaphosa’s new dawn as it of­fers much needed op­por­tu­ni­ties for the devel­op­ment of the re­gion.

He said the new dawn has to present op­por­tu­ni­ties to the busi­ness com­mu­nity to ex­plore in the fields of re­new­able en­ergy.

“This comes with the sign­ing of agree­ments on the Con­sti­tu­tion of 27 re­new­able en­ergy in­de­pen­dent power projects (IPP), with a com­bined in­vest­ment value of E56 bil­lion and a com­bined ca­pac­ity of 2 300mw.

Such in­vest­ment is es­sen­tial for the King­dom of Eswatini to zoom into for it’s eco­nomic op­por­tu­ni­ties which strengthen the coun­try’s ef­forts towards clean en­ergy gen­er­a­tion. To en­sure that in­vestors find it easy to con­duct their busi­ness, our gov­ern­ment also al­lo­cated E18.8 bil­lion for in­cen­tive pro­grammes over the next three years to pro­vide fi­nan­cial sup­port for the pri­vate sec­tor,” he added.


Prince Guduza (c) joined by Hho­hho RA Prince Tshekedi and PS An­dreas Matha­bela for a toast.

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