FSRA and NIDCS sign MoU
STORIES BY BONGUMUSA SIMELANE
MBABANE– In a bid to foster industrial development in the kingdom, the National Industrial Development Corporation of Swaziland (NIDCS) has signed a Memorandum of Understanding (MoU) with the Financial Services Regulatory Authority (FSRA). Speaking during the signing of the agreement, NIDCS Managing Director Muzikayise Dube noted that the organization’s mandate is to promote the growth of development in the country and therefore, the NIDCS is tasked with ensuring that economic acceleration is achieved which would steer the kingdom Eswatini in the right direction towards attaining first world status by 2022. The NIDCS was established to create
and establish gainful jobs, develop local industries to be effective global players, and contribute towards sustainable economic growth. The corporation has also financed a wide range of projects in the country. “We have seen projects from all the different sectors within the country ranging from the public sector and the private sector as well as diverse industries. Therefore, we thought it would benefit us if we partnered with the financial regulator,” he explained. He revealed that this partnership is geared to stimulate economic growth, adding that
NIDCS believes that this will ensure all the projects are well financed. He further expressed hopes that the MoU would enable both parties to share ideas. “We would like to pass our gratitude to those who made it possible for this agreement to be effected and we hope that with all upcoming projects, there will be close cooperation between the two entities,” he further said. Meanwhile, FSRA Chief Executive Officer (CEO) Sandile Dlamini stated that the signing of the agreement would make it possible for the two organizations to work together as they are under one government. He mentioned that the aim of this partnership is to make sure that work is easily done between FSRA and NIDCS for the betterment of the local economy. He urge businesspeople with projects in the pipeline to draft their proposals and hand them over to NIDCS which would assist them in evaluating their projects to determine how they can be done and how they can help boost local economy.