Business Eswatini, supported by GET.invest, GET.transform and the European Union (EU) Delegation to the Kingdom of Eswatini, are pleased to invite you to the Third EU Green Power Transformation Forum 2024 under the theme Catalysing Investments and Power Sector Reform to Support the Energy Transition in Eswatini on 17-18 September 2024 in Eswatini at The Happy Valley Hotel. Kindly see attachment for more information.

A NEW JOURNEY FOR BUSINESS ESWATINI, THE YOUTH CHAMBER OF COMMERCE, AND THE U.S. EMBASSY IN ESWATINI

Business Eswatini took a monumental step towards nurturing the potential of young entrepreneurs in the country. On Thursday, BE facilitated a maiden meeting between the Youth Chamber of Commerce and the U.S. Embassy in Eswatini where the Youth Chamber was given an opportunity to present their story about who they are and what they do, with the hope that they would explore possible avenues available with the U.S. Embassy. Recognizing the untapped potential of young entrepreneurs and the need for a vibrant entrepreneurial ecosystem, BE has strong confidence in the Youth Chamber as a pivotal player in the space of promoting young entrepreneurs thus growing the economy of the country. It is to the benefit of the country to bring informal entities into the mainstream formal economy where there is structure in support. 

REQUEST FOR COMMENTS: EMBEDDED GENERATION BYLAWS

As part of our ongoing efforts to support sustainable energy solutions and improve the regulatory framework within the sector, we kindly request you share any comments, suggestions, or concerns on the attached draft of the embedded generation bylaws. The proposed bylaws were developed by ESERA and aim to provide clear guidelines and standards for embedded generation systems, ensuring that they are implemented safely, efficiently, and in a manner that benefits both producers and consumers.  We request that you submit your feedback by 31st August 2024, allowing us sufficient time to incorporate your suggestions and finalize our submissions. You can send your responses or questions to Musa Maseko on musam@business-eswatini.co.sz.

THE TAXATION OF HIGH-NET-WORTH INDIVIDUALS (HNWIS) IN ESWATINI

The African Tax Administration Forum (ATAF) through the Eswatini Revenue Service (ERS), conducted a nationwide research exercise on the taxation of High-Net-Worth Individuals (HNWIs) in order to assess if the current framework is sufficient. The ATAF consultants explained the importance of taxing HNWIs which includes redistribution of resources and to encourage compliance with the law. The research aims to devise discussions on solutions and strategic collaborations that will contribute to the efforts to refine HNWI taxation frameworks for strengthening the country’s developmental journey.

INVITATION TO STAKEHOLDER VALIDATION FOR EZULWINI MUNICIPALITY DROUGHT MANAGEMENT PLAN

The Ezulwini Municipality is inviting stakeholders to participate in a validation workshop for the discussion and review of Drought Management Plan. Please see attachment for further details.

GRIEVANCE, DISCIPLINE HANDLING AND CONDUCTING FAIR APPEALS WORKSHOP 10TH – 12TH SEPTEMBER 2024

We are pleased to invite you to participate in our training on Grievance, Discipline Handling and Conducting Fair Appeals, kindly see attachment. Click on the following link to book early as spaces are limited: https://forms.gle/fzjLjSf3rPS74Mgn9

ENVIRONMENTAL, SOCIAL AND GOVERNANCE SURVEY REMINDER!!

Kindly be reminded to fill in the Environmental, Social and Governance (ESG) survey. Please note that the system glitch you experienced prior has been rectified.

If you missed it, don’t worry, please click here  to access the survey.

BE SOUND BITES ON MARKETS

This week’s markets look as follows:

Inflation Rate: 4.4%

Prime Rate: 11.0%

Bank Rate: 7.5% A decreased inflation rate indicates a positive development for businesses as it may mean that costs are rising at a slower rate than before.