Business Funding packages for Financial Institutions in Swaziland

INSTITUTION  PRODUCTS   REQUIREMENTS

 YOUTH ENTERPRISE FUND

 Mr. Mbuso Matsebula

 Cell:76778031

 email: This email address is being protected from spambots. You need JavaScript enabled to view it.

The Youth Enterprise Fund is a business support mechanism established by the government

of Swaziland for youth between the ages of 18-35 years aimed at contributing to the reduction of

youth unemployment through the provision of business capital for qualifying individuals, associations

and companies.

FOCAL SECTORS

None

LOAN CATEGORIES

       • Individuals - E500- E20,000

  • Companies - E500 - E50,000
  • Associations - E500 - E100,000

 

 

CRITERIA

  • Be a Swazi citizen who holds a Swaziland Personal Identity Number (PIN)
  • Be within the age bracket of 18-35 years
  • Business idea must be viable

APPLICATION PROCESS

  • Collect forms from Tinkhundla
  • Return completed forms to Tinkhundla
  • YEF collects applications and send to intermediary
  • Intermediary, assesses, shortlist applications and recommend to Board
  • Applications returned to intermediary with Board's approval / ratification
  • Youths are advised through letters of approval issues by intermediary
  • YEF office facilitates distribution of approval letters to Inkhundla
  • Disbursement by intermediary
  • Intermediary monitors and submits monthly reports to board on performance of projects   

 REGIONAL DEVELOPMENT FUND

Mr. Cornelius Bongani Dlamini

Regional Development Fund Manager Ministry of Economic Planning & Development

Micro Projects Programme Coordinating Unit

5th Floor, Dlanubeka Building, Mbabane

Tel:24048952 - Cell: 76135668

email: This email address is being protected from spambots. You need JavaScript enabled to view it.

 This is a government initiative to promote rural and regional development through the Regional Development Fund (RDF). It is managed by the Micro Projects Units.

FOCAL SECTORS:

  • Infrastructure Development
  • Improvements
  • Service Delivery
  • Labour intensive projects
  • There is no minimum or maximum allocation as funds is depended on the project and available allocated fund in that particular constituency.

 QUALIFYING CRITERIA

  1. Project must be financial viable
  2. Must portray a job creation element
  3. Project promoters must be a group of not less than ten (10) Swazis
  4. Project promoters (group) should have had already registered with their respective constituency
  5. Group should have all business documents
  6. Infrastructure projects should be accompanied by a recommendation from the government
  7. Group should have an approval letter from umphakatsi or local chief

 NATIONAL INDUSTRIAL DEVELOPMENT CORPORATION OF SWAZILAND (NIDCS)

Address:3rd Floor, North West Wing Sibekelo Building, Mhlambanyatsi Road

Tel: 240 2241/3846

Website: www.nidcs.org.sz

CONTACT PERSONNEL:

  • Nomcebo Fakudze - Cell: 7606 1188 email: This email address is being protected from spambots. You need JavaScript enabled to view it.
  • Phumlani Gama - Cell: 7602 9585 email:This email address is being protected from spambots. You need JavaScript enabled to view it.
  • Thandeka Dlamini - Cell: 7697 4336 email:This email address is being protected from spambots. You need JavaScript enabled to view it.  

 

 FOCAL PROJECTS:

  • Industrial Businesses
  • New innovation and value addition projects

TYPES OF LOANS OFFERED

  • Equity Financing
  • Debt Financing
  • Venture Capital
  • Mezzanine Financing
  •  Proposed venture should be environmentally compliant and have strong positive social benefits
  • Technically feasible and financially viable
  • Demonstrate high growth potential
  • Exhibit substantial economic merits in respect of profitability and sustainability
  • Satisfy compliance towards corporate governance conditions and statutory requirements
 FINANCIAL INSTITUTION  PRODUCT LOANS OFFERED & REQUIRENTS FOR OPENING A BANK ACCOUNT  LOAN REQUIREMENTS

 Standard Bank Swaziland

2nd Floor, Corporate Place

Swazi Plaza, Mbabane- Tel: 2405 3228

Website: www.standardbank.co.sz

CONTACT:

SMME DEPARTMENT

Phumzile Dlamini

email: This email address is being protected from spambots. You need JavaScript enabled to view it.

Khosi Mavuso

email: This email address is being protected from spambots. You need JavaScript enabled to view it.

Sabelo Motsa

email: This email address is being protected from spambots. You need JavaScript enabled to view it.

COMMERCIAL

  • Delisa Malinga Cell: 7621 6384  email: This email address is being protected from spambots. You need JavaScript enabled to view it.

 FOR SMEs

  • Order Financing
  • Minimum E5000
  • Trader Loan Between E5000- E200,000
  • No funding for start ups because of lack of records

Sole Proprietor

Transport Operator

  • Permit
  • ID
  • Utility bill for Director

Clubs and Associations

Clubs & Associations

  • Constitution
  • ID-signatories
  • Resolution to open account
  • Proof of Residence
  • Physical address verification

Trusts

TRUST

  • Copy of trust deed
  • ID's of Trustees
  • Utility bill- trustees
  • Resolution- starting signing arrangements and signed by all trustees

 

 

 ORDER FINANCING

  • Must be an existing customer for at least six months
  • Appetite for funding dependent on the purpose and performance of business

TRADER LOAN (retailers, hawkers etc)

  • No financial statements required. Assessment based on performance of the bank account in the past six months

COMMERCIAL- (companies that have a turnover of between E10m-E100m)

  • No funding for start ups
  • Cash flow lending based on performance
  • Audited financial statements