Africa-Press – Eswatini. Invert Eswatini has opened shop in the country with an E11 million investment that created 59 jobs.
The company, which is under Granule Holdings South Africa, manufactures and exports syrup using locally produced sugar.
Minister of Commerce Industry and Trade Manqoba Khumalo and Minister of Finance Neal Rijkenberg graced the official launch held at the company’s newly-constructed factory in Matsapha.
“The investment is expected to bring about diversification and value addition of our locally produced sugar which is what His Majesty’s Government is advocating for,” said Minister Khumalo, noting that government was pleased that the company would also be exporting its product.
“The opening of this project came at an opportune time as the country is still implementing the post COVID-19 Economic Recovery Plan, and we believe it greatly contributes to its success,” he said.
Khumalo said launching businesses was a positive step towards the recovery of the economy and job creation in the kingdom.
“It was in May 2021 when Granule Holdings now incorporated as Invert Eswatini first visited the country and communicated their decision to establish a syrup manufacturing plant in Eswatini.
“Evidently, you have kept your word though delayed by the COVID-19 pandemic.
We warmly welcome you in the kingdom and pledge our unwavering support,” said Khumalo.
The minister thanked Invert Eswatini for staying true to their word about investing in Eswatini and acknowledge their swiftness in setting up operations in the country.
“I believe you and your team are determined to demonstrate that Invert Eswatini can at least be at par or even better your operations in other countries. “I am confident that the factors of production available in the country will produce the needed quality product,” he said.
Idea
Invert Eswatini Chief Executive Officer (CEO) Jeremy Capouya stated that 18 months ago the internal core team at Granule and Taga Investments discussed the idea of wanting to be a little more than just a trader.
“We wanted to be in a position where we could provide a beneficiation offering and alternative supply medium, both crystal sugars and liquid sucrose. Eleven months ago we agreed that the time was right to open Invert and today I can’t believe that the reality is here and now,” he said.
He stated that Invert Eswatini had made a capital investment in Phase I of around E11 million and they had 22 employees and 37 people indirectly.
“With two more phases to be completed in the next two years I have no doubt that Invert Eswatini will be blessed with commercial success,” said the CEO.
Kwaluseni Member of Parliament (MP) Sibusiso Dlamini urged Invert management to invite other companies to come and invest in the country, especially in Matsapha.
“They must come, Eswatini is a safe country and it needs more businesses. We need more investors in order for our people to get employed,” he said.
The MP stated that they were honoured by what government was doing in making sure that the citizens were taken care of.
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