Gov Feeds

African Development Bank Business Seminar

The African development bank has stretched out its hand to the private sector and civil society. The bank which has offered funding to Eswatini since 1974 in support  of the country’s development agenda has now opened its door to fund the private sector. The assistance from the bank has gone into several sector s which include agriculture, finance, transport, energy, governance and water and sanitation. Contacts between AFDB personnel and Civil society or private sector representatives has in the past been limited and there is a need for such interactions to be strengthened. The objective of the Business seminar which was hosted by Business Eswatini in partnership with the Ministry of finance, was to present the Bank’s financing products and instruments not only for government but for captains of industries and entrepreneurs in the kingdom in support of the country’s socio-economic development. “The seminar will provide the necessary opportunity for Government policy makers, private sector and entrepreneurs to get a better understanding on how to access the Banks financing products and instruments” stated Minister of Finance Neal Rijkenberg. Eswatini private sector is a primary generator of exports and provides 70% of formal employment opportunities, emphasizing the importance of government’s continued support for its growth and integration into the formal sector. AFDB Southern African Deputy Director General Dr. Josephine Ngure encouraged the private sector to take advantage of AFDB’s presence to explore ways in which it can benefit from the bank’s wide array of financial products. She further mentioned that the private sector is a central part of Eswatini’s development agenda and that the Bank is fully confident that the government is fully committed to ensuring that the potential of the private sector contribution is fully realised. Dr Ngure Mentioned that the seminar occurred at a defining moment in the history of Eswatini following the successful holding of legislative elections in September 2018 and the appointment of a new private sector oriented Cabinet in November 2018. Business Eswatini CEO Nathi Dlamini encouraged the business community to fully utilise the opportunity availed by the AFDB and that it was important for the private sector to play its role in socio-economic development of Eswatini’s economy.              

Mandate:

 

Legal Advisor: Hlobsile  Ndzimandze

Head Of Department: Sizakele  Dlamini

 

 

Mandate:

The objective of FMAD is to develop a good mix of Fiscal and Monetary policies with the aim of expanding the revenue base for the Government. This includes efficient and sustainable revenue generation, continuous improvement of the Government’s financial position, and ensure regional economic integration. FMAD further influences thenational policy development framework and infuse same into regional development programs. 

FMAD is made up of 4 units that are pivotal in executing its mandate. The units are;

2.1.1 Indirect tax unit: responsible for formulating and developing legislation aimed at maximising non tax and indirect tax revenue for Government. This unit also plays an advisory role in cross border policy formulation and economic integration. 

2.1.2 Direct tax unit: The unit is responsible for developing, implementing, monitoring and reviewing direct tax (income taxes) policies and relevant legislation in collaboration with the relevant stakeholders. It is also responsible for preparing and submission of annual revenue estimates as part the national budget. The unit also undertakes monthly, quarterly and annual monitoring of revenue performance.

2.1.3 Trade and investment policy unit: liable for ensuring economic integration and seamless trade cross border, regionally and to a reasonable extent internationally.

2.1.4 Financial and monetary policy unit: has the mandate to ensure a stable and prudent financial regulatory framework for the financial sector, and maintain sound monetary policy supportive for economic growth. This unit develops financial legislation in cooperation with the financial sector with the aim of ensuring financial inclusion in Eswatini.

Director: Abner  Dlamini

Physical Address: 

6th Floor
Ministry of Finance Building            
Mbabane

Postal Address: 
P.O. Box 443    
Mbabane      
Swaziland

Telephone Number: (+268) 2404 8145/9

FAX Number: (+268) 2404 3187

 

 

Mandate:

The department is responsible for the implementation the borrowing plans and debt strategies, maintain debt information systems to provide consistent and reliable debt data, monitors project implementation, performance against set debt strategies and benchmarks.

Key Activities

  1. I. Establish the Debt Unit within MOF.
  2. II. Update both debt policy and legal framework.
  • III. Develop a policy for lending to agencies, Pes and (Local Government) LGs.
  1. IV. Develop Public Debt ManagementStrategy.
  2. V. Install and update CSDRMS – MOF site.
  3. VI. Produce regular reports on Public Debt.
  • VII. Train staff on DSA and DEMPA.
  • VIII. Compile all outstanding contingent liabilities.
  1. IX. Reconcile all debt service with Treasury.
  2. X. Department and CBS.
  3. XI. Survey and project LGs and SOE debt.
  • XII. Compile grants in CSDRMS with ACMS.

Director: Amstrong Dlamini

Physical Address: 

6th Floor

Ministry of Finance Building            
Mbabane

Postal Address: 
P.O. Box 443    
Mbabane      
Swaziland

Telephone Number: (+268) 2404 8145/9

FAX Number: (+268) 2404 3187

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