The acronym ENIDC denotes Eswatini National Industrial Development Corporation
Loan
Nkalashane Cotton Farm
Ngwenya estate
Charcoal
Tinkabi Tractor Project
Equity
Small Enterprise Development Company
Swaziland Tractor Company
National Maize Corporation
Swaziland Printing & Publishing
Industrial Housing Company
Beral Swaziland
Gem Art
Swaziland Wire Industries
Interroute
Swazi Feeds
Knitwear Holdings
Yes, there is a difference. ENIDC offers funding to develop viable projects whereas EIPA is focused on promoting inward and outward FDI. Our services are therefore complimentary since we aim to leverage FDI by positioning the country as an attractive investment destination. We seek to re-enforce FDI attraction by providing partnership, support and finance through equity and portfolio investment, joint ventures, and loan financing in order to build confidence on the economy of Eswatini as a highly yielding investment location.
ENIDC seeks to invest in and support SMEs in a manner which will yield satisfactory financial returns for the investors whilst contributing positively to the economy particularly in terms of entrepreneurship, new enterprise development and job creation.
We assist all sizes and categories of SMEs as long as they are legally registered and trading, and as long as the projects are in line with our mandate. We assist SMEs operating from Swazi Nation Land and in rural areas. One of our main objectives is to foster development of small and medium enterprises and cooperatives towards the creation of employment, particularly in under-developed areas of Eswatini.
We assist in projects that are economically and financially viable, technically feasible, and environmentally friendly. The projects must also have sustainable medium to long term returns that will yield positive growth effects to Eswatini’s socio-economy.
ENIDC is a Development Finance Institution (DFI). We have an industrial development mandate, so we are committed to providing finance to qualifying investments in order to meet the increasing demand of industrial development in Eswatini. ENIDC has been mandated by Government to stimulate the industrial development of the country. The Corporation is housed under the Ministry of Commerce, Industry and Trade and Government has put measures in place to ensure that the mandate is indeed executed.
It is easy for SMEs to benefit from our services as long as the funding requirement is towards an industrially inclined project. We require that the business be legally registered and be compliant with tax requirements. We also require financial record in the form of financial statements and projections for the business. We require a business plan that will provide:
- Sufficient information to convince ENIDCS of the success of the business undertaking.
- Foundations of the business plan, based predominantly on facts and market research.
- Demonstration that the business venture is viable and has high growth potential and that all those involved in the project are able to deliver on the business plan.
- Formal existing commitments including contracts with customers for the supply of goods and services, letters of intent from customers, lease agreements and offers to purchase.
We have an approved strategy in place to guide us and a Board to hindsight our
operations. We have also collaborated with other developmental institutions that will
assist in their various fields of expertise like entrepreneurship development, agricultural
development, innovation and technology development, market linkages, standards
development and quality assurance. We are already working with institutions like the
Micro Finance Unit (MFU), Small Enterprise Development Company (SEDCO), National
Maize Corporations (NMC), Swaziland Standards Authority (SWASA), National
Agricultural Marketing Board (NAMBOARD), Royal Science & Technology Park and
Eswatini Water and Agricultural Development Enterprise (EWADE).
We do not have a prescribed minimum but we aim to provide adequate funding as guided by the business plan. We will however, limit the maximum requirement on a case-by-case basis.
The cost of funding is not fixed at any rate yet. However, consideration of the developmental mandate compels ENIDC to finance below market rate where possible, be flexible and accommodative as much as it is possible in order to allow enough gestation time for the business under the influence of its funding.
Yes, we have a great working relationship with SEDCO. We are placing reliance on their business development training and business plan services. We are relying on SEDCO to develop SMEs and their business plans to the level of qualifying for funding from ENIDC.
We have a comprehensive list of areas that we finance including mining and beneficiation.
ENIDC is willing to assist with the funding requirements of coal mining, beneficiation as well as other coal processing technologies and businesses. We can conduct the necessary research towards areas of involvement and we can engage with relevant partners in order to financially assist where viable projects can be developed.
No, we do not fund feasibility studies. However, we have partnered with experienced corporations outside Eswatini who have facilities available to finance feasibility Studies.
ENIDC is ready to work with businesses who may have the need to access such facilities at any time.
ENIDC is ready to work with businesses who may have the need to access such facilities at any time.
Depending on the magnitude and complexity of the project, it can take up to three months to conclude a financing proposal. The availability of all necessary information shortens this time.
The onus to protect intellectual property lies with the owner who can be accorded protection by the relevant legislation under the Ministry of Commerce, Industry and Trade. We treat all information shared with us with a high degree of confidentiality. All employees are sworn to secrecy as per their employment contracts and information is kept securely. We also enter into Non-Disclosure Agreements with clients that who may be ready to share their confidential information with us.