Better equipping personnel relevant for delivery of developmental mandate - Mr. Msibi: Page 8 of 9

  1. in the communities that we serve.

 

  1. FINCORP offers access to credit to SMEs across all economic sectors and as we speak a total of E1.1 Billion is in the hands of Swazi Citizens who are developing themselves in various ways and continue to make a meaningful contribution to the economic development of our country.  In the last five years our portfolio increased by 100% from E483.2 Million to 2012 to the current E1.1 Billion in 2017.

 

  1. A recent study conducted by the University of Swaziland Consultancy & Training Center (CTC) disclosed that SMEs financed by FINCORP presently support about 15 100 jobs. They collectively contribute to National GDP just over E1.0 Billion in the form of production of goods and services.

 

  1. FINCORP has in the last three years increased its branch network from 2 to 6 branches; increased the number of clients from 9 000 to 16 000; and finally increased its workforce from fifty-six (56) to one hundred and three (103). 

 

  1. To date FINCORP has provided credit in excess of E4.9 Billion to more than                    80 000 Swazi Nationals who have improved their lives one way or the other and some are continuing to do so even today.  Feedback received from various independent sources suggest that FINCORP is the leading SME Development Agency in the country both by way of outreach and value of financial assistance offered solely to the SME Sector.

 

  1.  Coming to a conclusion, let me take this opportunity to wish you successful and very rich deliberations during the next five days and I am confident that you will come out of this training course ready to make positive impact at your respective organisations.

 

  1.  I thank you for your kind attention – and I leave you with a quote from Abraham Lincoln, 16th President of the United States who said “ Planning in everything that you do is key for example “If I had eight (8) hours to chop down a tree I would spend six hours (6) sharpening my axe and just give it a few jabs and see it fall than use a blunt axe for