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When asked what measures Nedbank used to ensure that they would withstand the shocks, Nkosi said they used the relationship approach, in which clients were individually engaged to understand their current challenges with a view to finding a negotiated approach to enable businesses to be accommodated until they were back on their feet. “Nedbank Eswatini Limited recognises the need for businesses to finance sustainable renewable-energy solutions in order to reduce the high cost of power.

Pertinent

‘‘We remain cognisant that power is one of the more pertinent cost drivers that must be controlled in order for our clients to create value for their shareholders,” she said. The MD added that they had partnerships with institutions like SEDCO that provided training for startup businesses.

Skills

She said this training equiped the new business owners with the skills they needed to run a business. “Also, the certificate gained from attending the course then enables the business to approach our organisation for startup finance in partnership with the CBE Guarantee Scheme,” the MD said. Nkosi also mentioned that the grey listing of South Africa has introduced another

barrier to doing business in South Africa (SA) and a reason for potential investors to look elsewhere. She said the impact of the grey-listing was an increased in the regulatory burden imposed on both foreign and SA entities; businesses could impose restrictions on doing business in SA; and there was also the potential for loss trading and business partners.

Investment

“The above creates an opportunity for the country to leverage off foreign direct investment, and the bank is well poised to receive these financial flows. The bank has adopted robust AML, CFT, and sanctions policies and frameworks to mitigate money laundering and terrorist financing risk,” she added.