King urges action on late business payments
Eswatini's King Mswati III launched a new SEDCO reporting line for entrepreneurs facing overdue government and corporate bills.
King Mswati III stated that late invoice payments are severely impacting small businesses and jobs in Eswatini. He announced that entrepreneurs experiencing overdue payments from government, public enterprises, and corporations can now report these issues to the Small Enterprises Development Company (SEDCO). The King highlighted that unpaid invoices prevent businesses from paying workers and can force viable ventures to close.
Speaking at the 20th Entrepreneur of the Year Awards in Ezulwini, His Majesty emphasized the need for practical solutions to support entrepreneurs. He noted the Citizen Economic Empowerment Act and the National MSME Policy 2024–2029 provide a framework for improving market access, financing, and digital readiness. The King also encouraged large companies to integrate indigenous businesses into their supply chains.
The King challenged FNB Eswatini and other partners to increase their support for the Entrepreneur of the Year Awards, aiming for larger prizes in future editions. Businesses recognized through the awards have achieved a combined annual turnover exceeding E167 million. He urged entrepreneurs who did not win awards to seek support from SEDCO for business scaling and networking.
Why it mattersSmall businesses and their employees in Eswatini face closure and job losses due to late payments from government and corporations.