Lobamba – King Mswati III has revealed the full scale of Eswatini’s economic empowerment programmes over the past four decades, disclosing that FINCORP has extended more than E10 billion in loans to citizens while the Regional Development Fund (RDF) has disbursed over E1.4 billion in non-refundable financial support.
Delivering his Ruby Jubilee address at Somhlolo National Stadium on Friday, the King provided a sweeping overview of the economic transformation that has taken place since his coronation on April 25, 1986, noting that the country’s GDP had grown from approximately E1.4 billion to over E95 billion.
He credited the National Development Strategy, developed through Vusela drives and broad national consultations, as the guiding compass behind Eswatini’s ambition to attain first-world status. Manufacturing now contributes approximately 40 percent of GDP, driven by agro-processing, textiles, sugar production and forestry.
“At the time of my coronation, our national GDP stood at approximately 1.4 billion emalangeni. Today, it exceeds 95 billion emalangeni.”
The King also highlighted the growth of cooperative schemes as a key pillar of grassroots economic development. These schemes now hold assets exceeding E3 billion, which he said reflects rising financial literacy and has played a vital role in poverty reduction and community upliftment.
Partner-funded initiatives were also acknowledged as having played an important role in complementing government efforts across sectors.
While celebrating the growth, the King tempered his remarks with candour about remaining challenges. “We remain mindful that challenges persist, such as access to resources and equitable distribution of benefits,” he said, recommitting the government to ensuring no one is left behind.
The industrial estate programme was cited as having attracted many enterprises and positioned Eswatini as a competitive investment destination on the continent.
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