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.”