Eswatini Committed to Building a Vibrant Youth Entrepreneurship Ecosystem – YERF CEO

The Youth Enterprise Revolving Fund – Eswatini CEO, Mandla Nkambule (CA-Swaziland, FCCA, CDFA), delivered an inspiring address at the second edition of the Umliba Youth Entrepreneurship Conference, emphasizing the pivotal role of technology and entrepreneurship in shaping Eswatini’s future. Themed, “Tech Entrepreneurship Beyond the Horizon,” the conference was held at Tums George Hotel on November 25.

Building on Past Success

Nkambule opened by acknowledging the contributions of key partners such as the Royal Science and Technology Park , UNDP Eswatini, FNB Eswatini, MTN Eswatini, Zion Venture Partners (Pty) Ltd, and others. Their financial and technical support was instrumental in the success of the Conference. He also extended gratitude to government leaders, including the Ministers of ICT and Culture, Sports, and Youth Affairs, for their political will to champion youth-driven innovation.

Reflecting on last year’s inaugural conference, which drew 240 attendees, the CEO highlighted the continued growth of the event as a testament to the nation’s commitment to empowering its youth.

Nkambule described the conference as a platform for young entrepreneurs to connect, learn, and showcase their business ventures.

The Umliba Youth Conference is a platform for young entrepreneurs, innovators, and changemakers to come together and explore the vast opportunities that technology and entrepreneurship can bring

The conference inspired participants to dream big, challenge the status quo, and create a more equitable society. Harnessing technology and entrepreneurship is key to driving economic growth, creating sustainable jobs, and reducing poverty in Eswatini.

Lessons from Africa’s Leading Startup Ecosystems

Nkambule highlighted funding trends in Eswatini and across Africa. “Domestically, the focus has been on grants and debt-based funding, with YERF disbursing over E20 million to 404 businesses since 2018. Internationally, private capital dominates, contributing 85% of funding for African startups in 2023,” he remarked, noting Eswatini’s ambition to attract similar investments, particularly venture capital.

Drawing comparisons with countries like Kenya, Egypt, South Africa, and Nigeria, Nkambule highlighted the need for Eswatini to follow suite in building a mature and competitive startup ecosystem. These nations have successfully attracted significant foreign investment, demonstrating the potential of a well-developed entrepreneurial framework.

He pointed to the US$4.5 billion in venture capital invested in African startups in 2022 as evidence of the continent’s growing appeal to global investors. Eswatini, he said, is ready to claim its share of this opportunity.

The Role of Collaboration

Nkambule emphasized that the development of Eswatini’s entrepreneurial ecosystem requires collaboration among key stakeholders, including development partners, financial institutions, regulators, and market participants.

By fostering dialogue and partnership, we can address gaps and weaknesses in driving economic growth through entrepreneurship and innovation

He called for collective efforts to overcome challenges and unlock the full potential of Eswatini’s youth. This includes leveraging private investment, enhancing access to resources, and fostering an environment where young entrepreneurs can thrive.

A Vision for the Future

Nkambule’s speech underscored the critical role of youth entrepreneurship in shaping a prosperous Eswatini. He challenged young entrepreneurs to take charge of their futures, think globally, and embrace the transformative power of technology. “By working together,” he concluded, “Eswatini can build a vibrant entrepreneurial ecosystem that not only creates jobs but also lifts communities out of poverty and sets the stage for long-term economic growth.”

The Umliba Youth Entrepreneurship Conference serves as a powerful reminder of Eswatini’s commitment to innovation and progress. With the combined efforts of government, private sector partners, and young changemakers, the country is well on its way to becoming a hub of entrepreneurial excellence in Africa.