Can Eswatini Produce a Unicorn? (4 of 4)

By Lwazi Ian Dlamini

“Our greatest fear is not that we are inadequate,” Marianne Williamson wrote, “Our deepest fear is that we are powerful beyond measure. It is our light, not our darkness that most frightens us.” These words are as fresh today as they were 11 years ago when I first heard them in a poem recited by 11-year-old Botlhale Boikanyo on SA’s Got Talent.

As I end this series, I challenge you and I to deeply reflect on this question, “What frightens us the most – winning big or losing big?” I think both outcomes carry a certain level of fear. Now, let us double-click on winning big by further asking, “Can Eswatini produce a privately held start-up company with a value of over US$1billion – what in the venture capital community is called a unicorn?” I do not know about you but what really scares me is the possibility of seeing the launch of a Swati unicorn – in my lifetime!

The earlier mentioned poem documented in the book, A Return to Love: Reflections on the Principles of A Course in Miracles, Marianne goes on to say, “We ask ourselves, ‘Who am I to be brilliant, gorgeous, talented, fabulous?’ Actually, who are you not to be? You are a child of God. Your playing small does not serve the world. There is nothing enlightened about shrinking so that other people won’t feel insecure around you.”

The lightning thought for me is, “Your playing small does not serve the world”. It is this very statement that made me resume writing this year. It all started with four questions, one of which I am tackling through this series. The three other questions to be discussed in the next series are;

• How do we attract venture capital into Eswatini to create jobs for the youth?
• How do we accelerate start-up ecosystem development in Eswatini?
• How do we develop the skills required to achieve a private sector-led economy?

Eswatini has great entrepreneurs who must refuse to “shrink so that others will not feel insecure.” The question of spotting a unicorn in Eswatini may sound foreign given that unicorns are rare world over – almost as rare as a solar eclipse.

For instance, CB Insights in their State of Fintech Report indicated that only 3 unicorns were born in Q3 for 2023, bringing the total fintech unicorn birth count to 8 this year.

Rare does not mean non-existent. With Africa having the youngest population in the world, Eswatini like many African countries, is well positioned to harness the huge opportunity that will be created through uniting 1.2 billion people living in Africa into one market with an estimated combined GDP of US$2.5 trillion that is expected to reach US$29 trillion by 2050. The Global Africa Business Initiative (GABI), predicts that by the same year, one in every four people in the world will be African – offering a massive consumer and business market. This statistic includes Eswatini!

The Royal Science and Technology Park (RSTP), created through the vision of His Majesty King Mswati III, as well as the African Continental Free Trade Area (AfCFTA), an initiative of the African Union – both amplify the possibility of spotting at least one Eswatini unicorn in the next half a century.

Designated as a Special Economic Zone, RSTP, which I visited for the first time this year, is one of Eswatini’s boldest effort to promote science, technology, and innovation. Divided into two divisions; Nokwane Site and Phocweni Site, RSTP sits on over 300ha of land consisting of industrial development land shared between research laboratories, administration centres and residential. The Phocweni Site is the hub of information technology-driven services and products.

“What do you see?” is a vision question that is asked and answered by people who look with their hearts and see with their minds. When I looked at these state-of-the-art facilities, I saw a unicorn. You ask, “Who are we to be brilliant, gorgeous, talented, fabulous?” And I ask, “Who are we not to be?”

The statement is not only true because of the existence of RSTP, AfCFTA and the US$2.5 trillion market opportunity, but because yesterday I spent the entire day as a judge in a Pitch Event sponsored by SNG Grant Thornton where 43 entrepreneurs from the Lubombo region pitched for a E50 000 seed capital. As my Christmas present, I experienced first-hand the passion, innovation, and entrepreneurial spirit young people of Eswatini have. My commitment to help them get to the top is more resolute than ever – regardless of how high the stakes are. When you cast your eyes to 2050, what is your mind seeing?

A story is told of an elephant crossing a shaky bridge, and a tiny ant sitting on the elephant, just behind the ear. The bridge shook as they crossed, and when they were safely on the other side, the ant said to the elephant, “My word! We made that bridge swing all right, didn’t we?” This is exactly how I see Eswatini entrepreneurs (ants) shaking the world by riding on the back of the Africa continent (elephant) now positioned to be the most important driver of global business.

Let me conclude by sharing the last part of Marianne’s poem, “We are all meant to shine, as children do. We were born to make manifest the glory of God that is within us. It’s not just in some of us; it’s in everyone. And as we let our own light shine, we unconsciously give other people permission to do the same. As we are liberated from our own fear, our presence automatically liberates others.”

Merry Christmas and Happy New Year!