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E45 Million Revolving Relief Fund For Eswatini MSMEs

Minister of Commerce Manqoba Khumalo
Minister of Commerce Manqoba Khumalo

The E45 million MSME Revolving Relief Fund set up by Government to assist micro, small & medium businesses in the time of #COVID19 will commence operations on 1 February 2021. The commencement has been announced by Minister of Commerce Manqoba Khumalo.

Minister Khumalo: “The aim of the scheme is to provide easily accessible finance to cater for the operating expenses of MSMEs, both formal & informal, which have been affected by COVID-19. The aim is to reach all affected businesses to ensure that they remain operational & to an extent stabilise towards a growth trajectory.

Minister Khumalo: “In Eswatini, the MSME sector employs 25% of the total labour force &, as such, MSME development emerges as a key instrument in poverty reduction efforts. Eswatini Bank will manage the fund in accordance with the fund’s regulations that were approved by Parliament.

Minister Khumalo: “Pre-qualification requirements for both the formal & informal sector are already available at Eswatini Bank. Businesses are encouraged to request for the information on the requirements & prepare the necessary documentation before the commencement date.”