Reimagining Development for Private Sector Long-Term Success and Sustainability

"It does not matter how ambitious you are, you can never be more ambitious than the law, no matter how smart or creative you are!" These words by Zinhle C. Matsebula, at a dialogue session between private sector leaders and the Eswatini United Nations Country Team (UNCT), summarized the sentiment about the need for a facilitative policy and regulatory environment to enable the expansion of Eswatini’s economy.

In turn, Jay Jay Worral of Vukani BoMake argued that the country would be better off "not by raising taxation, but by creating jobs so that people can spend more." As one of the younger voices in the room, Worral highlighted the need for greater mentorship, urging senior industry leaders to nurture the younger generation of entrepreneurs and managers. "Allow them to network, allow them to thrive," he emphasized, stressing the importance of intergenerational collaboration to ensure the long-term impact of current initiatives.

Business Federation of Eswatini President, Thulie Dladla, highlighted critical challenges facing the private sector, noting that "External finance development has been declining since COVID-19." She drew attention to the gender gap in economic opportunities, particularly for young girls, and pointed out that the private sector is struggling to absorb the available youth workforce, signalling a disconnect between education and market needs.

Matsebula, Worral and Dladla were a part of the consultation co-hosted by the umbrella body, Business Eswatini and the UNCT, aimed at shaping the strategic direction of the UN Sustainable Development Cooperation Framework for 2026-2030. Over 70 participants actively contributed to conversations about innovation, job creation, gender equity, transformative policy environment and sustainable business practices. The dialogue sought to frame solutions for the identified key development challenges including unemployment, a high rate of poverty, unequal education outcomes, climate crisis risks, governance and service delivery, among others. 

The dialogue was one in a series of consultations aimed at ensuring the alignment of the new UN Cooperation Framework with Eswatini's development priorities. It follows a similar dialogue with senior government officials and ministers, led by the Rt. Hon. Prime Minister, held in January. 

Discussing the Cooperation Framework’s strategic priorities, participants underscored the importance of fostering innovation but also pointed out that barriers to innovation in Eswatini must be addressed. “Let’s tailor something that is designed to meet the specific needs of Eswatini,” Zinhle C. Matsebula suggested. She also stressed the importance of compliance to access international platforms, suggesting that regulations and laws must adapt to the changing needs of businesses while ensuring that local solutions are at the core of Eswatini’s entrepreneurial ecosystem.

Nathi Dlamini, CEO of Business Eswatini, and Mvuselelo Fakudze, President of Business Eswatini, talked about the importance of collaboration among all sectors, reinforcing the role of the private sector in driving sustainable development. “Our success as businesses is deeply intertwined with the well-being of the communities we serve,” Mvuselelo Fakudze said, affirming that aligning business strategies with the UN’s vision could yield solutions to Eswatini’s most pressing challenges.

As co-convener of the event, UN Resident Coordinator, George Wachira emphasized the interconnected nature of global crises, which demand collaborative solutions. “The challenges we face today are too large for any one actor to tackle alone,” he noted. “The private sector is more than just an engine of economic growth; it is a catalyst for transformation. You drive innovation, deploy cutting-edge technologies, build skills, continuously improve efficiency, lift people out of poverty, and make money out of it!”

The continued collaboration between the UN, Business Eswatini, and the private sector marks yet another significant step toward building a multi-stakeholder partnership for the Cooperation Framework for 2026-2030. As Eswatini advances on its path to sustainable development, the shared commitment of all stakeholders to innovation, inclusivity, and resilience will be pivotal in driving transformative change for a prosperous future.