Govt to reclaim business space for Emaswati

The local business landscape is on the verge of a major shift as new empowerment rules move closer to Parliament.

Government says the long-awaited Citizens’ Economic Empowerment Act regulations will introduce a new framework for economic participation, opening space exclusively for locally-owned businesses in selected sectors, commercial areas and procurement opportunities.

Speaking at the Hhohho Regional Entrepreneur of the Year 2026 Awards at Sibane Sami Hotel in Ezulwini yesterday, Minister of Commerce, Industry and Trade Manqoba Khumalo said the country is approaching a turning point in how economic opportunities are accessed and shared.

“The landscape of business will change. We will now have a legal framework to ensure that certain sectors of the economy are reserved only for locals,” Khumalo told entrepreneurs and business leaders. He outlined the expected impact of the regulations, which he said were already before Cabinet and would soon be tabled in Parliament.

The call for certain sectors to be operated exclusively by locals will now have a legal basis to ensure that certain locations and certain parts of the commercial space are reserved for them. He put it plainly that certain business sectors and commercial centres are presently ‘in the wrong hands’.

The Citizens’ Economic Empowerment Act is designed to create a legal foundation for increasing the participation of citizens in the economy. The framework seeks to promote greater ownership, access and opportunities for Emaswati by supporting local businesses, improving access to markets and ensuring that citizens benefit more directly from economic activity.

Proposed
Under the proposed regulations, government intends to identify areas where citizen participation can be strengthened, including certain sectors of the economy, commercial spaces and public procurement. The objective is not to close the economy to foreign investors, but to ensure that investment complements local capacity and addresses gaps where skills, technology and expertise are needed.

“We want investors, but we want them to do the things we cannot do. We want people that come from other countries, but we want them to bring the skills we do not have,” Khumalo said.

The minister described the empowerment legislation as a long-term commitment, saying he had worked on the initiative for eight years and wanted to see it implemented before the end of his tenure.

“It is so fundamental that we wake up and we take space, and I see the people in the room as the people that will occupy all those shops in the streets of Manzini that are in the wrong hands right now,” he noted.

He left no doubt that local entrepreneurs should be ready to occupy opportunities created through the new framework. “It is my passion. It is my commitment. I don’t fail. We are going to do this,” assured Khumalo.

For micro, small and medium enterprises (MSMEs), the legislation represents a potential change in the operating environment. The sector has been identified by government as a key driver of economic growth, employment creation and local enterprise development.

The Hhohho awards highlighted the strength of the region’s entrepreneurial base, with 81 of the 362 national applications coming from Hhohho. The applications included 43 women-led enterprises and 38 men-led enterprises, reflecting strong participation across the business community.

Government’s wider MSME agenda is also supported through the National MSME Policy 2024–2029, which focuses on improving access to finance, strengthening business support systems and creating a more enabling environment for entrepreneurs.

Khumalo said the new empowerment framework would give local businesses a stronger platform to compete, while recognising the importance of strategic partnerships with investors and private-sector institutions.

He also acknowledged support from organisations including FNB Eswatini, the FNB Foundation, the Eswatini National Provident Fund, Taiwan ICDF, FINCORP and Infinity Links for supporting entrepreneurship development.