Africa-Press – Eswatini. Eswatini is lagging behind in the implementation of the United Nations Sustainable Development Goals (SDGs) with score slightly over 53 percent ranking number 142 out of 165 countries in terms of the SGDs attainment progress since its inception in 2015.
This was revealed by the Minister of Commerce, Industry and Trade Manqoba Khumalo during the launch of the Eswatini SDGs Investor Map platform and intelligence tool for the benefit of private sector in Eswatini and investors looking for investment opportunities within the Kingdom at Esibayeni Lodge last week.
The Eswatini SDG Investor Map was developed through an extensive consultative period covering representatives from 12 public sector institutions, 12 from the private sector, 6 from civil society, and three from the development partner community.
Khumalo said government was grateful at the funding for the implementation of activities of the SDGs.
“It is a known fact that adequate financing is critical to the implementation and achievement of the Sustainable Development Goals as enshrined in national priorities. Historically, this burden has been shouldered predominantly by governments, the donor community and multilateral development banks,” he added.
The COVID-19 pandemic has proved that countries including Eswatini can no longer rely on external financing to develop hence the importance of involving all domestic development partners including the private sector.
“Domestic financing and partnerships with the private sector is the key to building a resilient and prosperous nation. This is because, the private sector accounts for 60 per cent of GDP, 80 per cent of capital flows and 90 per cent of jobs in an average developing country,” Khumalo said.
Government has realized the importance of a private sector led economy and has made various strides in improving access to opportunities and support for the private sector, from the credit and export guarantee schemes to pending instruments like the Citizen Empowerment Bill, which seeks to improve the business environment for a thriving private sector.
The Eswatini SDG Investor Map aims to assist in identifying suitable investment opportunities that can deliver solid economic results and also contribute positively towards social, environment and poverty dynamics. This will make impactful investments and also maximize shareholder value for investment sustainability.
The Minister commended UNDP for partnering with government to develop a portfolio of SDG aligned Investment Opportunity Areas covering six sectors and about 14 actionable opportunities, supported by well researched quality data and analysis which are attuned with national priorities and SDG’s.
The six priority sectors are Food and Beverage, Renewable and Alternative Energy, Infrastructure, Financials, Healthcare, and Education. Within these priority sectors, the Eswatini SDG Investor Map identifies a 14 Investment Opportunity Areas, which to leverage the full potentials in the area of digitalization and technology, waste and environmental management, and development financing with private sector partners.
Speaking during the same occasion UNDP Eswatini Resident Representative Rose Ssebatindira said the tool is designed to enhance Eswatini’s efforts towards achieving the SDGs by 2030. She commended government through the Ministries of Commerce, Industry and Trade and that of Economic Planning and Development and the Eswatini Investment Promotion Authority for ensuring that the project was a success.
The SDGs main objective is to end poverty, protect the planet and ensure that by 2030 all people enjoy peace and prosperity. This objective can only be achieved through concerted effort between the public and private sectors including the donor community.
“A concerted effort is required to increase investments in key sectors that propel the economy. However, despite the potential that private sector investments offer, many developing countries attract low levels of domestic and foreign investment in SDGs because of limited data and insights about investment opportunities and risks; limited capacities and networks; and high real or perceived policy and regulatory risks that impede progress. Eswatini is no different”, she added.
Ssebatindira said global foreign direct investment flows has declined by 35 percent and the developing countries are the ones that were hard hit by the effects of the COVID-19 pandemic resulting to a further decline of the Greenfield projects and international project finance which fell by 42 percent and 19 percent respectively.
“This tool came at a time when investors need guidance towards deploying capital to initiatives that deliver strong financial returns while reducing poverty and inequality, advancing health and education, and protecting the environment,” she added.
This tool has been applied in 20 emerging markets globally hence it follows a standardised methodology and it is guaranteed to produce the expected results and provides an opportunity towards building a strong partnership in the area of market intelligence while leveraging established global best practices.
As part of promoting investments, Eswatini will participate in the SDGs Investment Fair in New York in September 2022 to leverage and showcase the country’s value proposition to the world and market bankable investment portfolios.
The information on the Eswatini SDGs Map is readily available to both local and external investors online through the SDG Portal, the Ministry and EIPA websites. I also encourage our private sector partners like Business Eswatini and FESBC to disseminate such information widely through their networks and platforms.
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