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Monday, 26 August 2013

Swaziland: EU regional body pumps €1.8m for SMEs

On 31 July, the newspaper Times of Swaziland reported that The Centre for the Development of Enterprise (CDE) has pumped 1.8 million Euros for developing the Swaziland’s private sector, directed mainly through capacity building.
CDE is an African, Caribbean and Pacific (ACP) and European Union (EU) joint institution created in the framework of the Cotonou Agreement. Its objective is to ensure the development of professional ACP enterprises operating in the private sector.

According to CDE Head of Regional Office for Southern Africa Sid Boubekeur, the above mentioned amount will be spent on implementing the Opportunity Identification Study findings which the centre carried out in 2011. The study focused on the existences of sizeable population of Small and Medium Enterprises (SMEs) and sectors which could benefit from the CDE interventions. Sectors looked at include agriculture, manufacturing and services.
Boubekeur said the overall CDE intervention to the country’s private sector will include improving the competitiveness of enterprises, improving access to financing for SMEs, support for capacity building of intermediary organisations in the private sector, improving the business climate by fostering dialogue between private and public partners and promoting investments.
He further said improving the private sector which was mainly made of SMEs and other private enterprises will constitute addressing competitiveness needs which affect the country’s private sector’s competitiveness in international markets.

The country has over 50 000 SMEs, the newspaper states.

Source: Times of Swaziland (http://www.times.co.sz)