Incentives for Businesses
Small Enterprise Development Company - SEDCO
Sedco offers local traders with information and expertise on entrepreneurship. They facilitate businesses with basics such as business planning, business mentoring, market access facilitation and such like . SEDCO also offers to local traders business incubation as well as providing places of trading around the country. These are well built and secured and allow local business people to have office or trading space at a competitive market rate.
Moreover training and workshops can also be made available to local businesses for growth and efficiency. With the benefit of these services, businesses are capacitated and therefore stand a good chance of acquiring financial support from Banks. Further, the Graduate Enterprise Program is another incentive aiming to create job opportunities for graduates through capacity development, loan deposits and linkages with development financiers.
Government of Swaziland (through Ministry of Finance)
Development Approval Order- In this incentive, the ministry may approve that a company with the intention to make a significant in the country may be charged corporate tax at a reduced rate of up to 10%.
For more info, please refer to the Tax Guide provided on the SIPA website.
Royal Science Technology Park
The Royal Science Technology Park helps new and startup business in the IT sector by providing services such as office space and capacity building when possible through its Business Incubation style.
Namboard-National Agriculture Marketing Board
NAMBOARD facilitates markets for farmers and further assists them with the production, processing, storage etc. Swazi business people who have fields and planting space benefit a great deal from Namboard because their effort is committed towards the growing of the produce while other services such as marketing is handled by Namboard. Namboard achieves these things through the Farmer Support and Development Unit. Namboard also purchases produce from farmers and what they supply to the farmer based on agreements signed by them and the farmer.
Royal Swaziland Sugar Corporation
Through their out growers unit, they purchase sugar from over 2500 families involved in Sugar Cane production. Therefore populace of rural Swaziland involved in Sugar Cane production has a standing customer in RSSC. These local growers, statistically, produce 1.2 million tonnes of sugar cane. RSSC still desires to play a significant role in rural Swaziland's development in as far as sugar cane concerned.
Central Bank Of Swaziland
They administer the Small Scale Enterprise Loan Guarantee Scheme. This basically encourages banks and financial institutions to extend loans to small scale businesses that are viable and fully licensed with majority shareholders being Swazi. The shareholders must contribute 5% security of required loan for start ups and 15% for existing entities.
Moreover CBS, administers the Export Credit Guarantee Scheme which further helps local businesses who have received orders outside Swaziland with money to purchase raw material and delivery also. This loan is offered at a maximum of E 2.5 million.
National Industrial Development Corporation of Swaziland (NIDCS)
NIDCS provides funding to businesses especially those interested in sectors that promote industrialization and high employment.
Swaziland Industrial Development Company (SIDC)
SIDC is a development finance company which mobilizes resources locally and internationally to finance private sectors projects. Certain private sectors projects. Certain private sector projects inherently have ancillary services which are outsourced to SME's. These SME's can also access funding from SIDC. SIDC will invest in projects that will contribute to the development of the country .
Regional Development Fund
This is funding that Government has made available to the constituencies of Swaziland. Recently this budget has been stretched to E88 million. It has now become cooperative driven to ensure that the funding assists a larger group of people. These funds are administered by the Ministry of Tinkhundla Administration & Development.
Regulatory bodies such as SERA, SCCOM and others do not have incentives of their own but they all align with the country's standing incentives i.e. the Development Approval Order. However, they make statistics and information about that specific sector available to investors to allow fluency in the feasibility study and inform investor of how the market stands currently.