Growing interest for access to funding for renewable energy in Eswatini
2 February | On 24 January, the Renewable Energy Project Development Day held in Mbabane (Eswatini) gave project developers the opportunity to present their ideas to finance access experts from GET.invest. During a series of one-on-one sessions, eight business developers seeking support to access funding introduced their projects, their current stage and the planned next steps to GET.invest advisors. Another 15 companies are receiving support while waiting for the next formal round during March 2023.
The event was organised by GET.invest and Business Eswatini together with the European Union Delegation to Eswatini. Business Eswatini (BE) is the leading private sector business organisation, representing more than 80% of big businesses in the country. It aims at the promotion of a conductive business environment through advocacy, stakeholder engagement, representation and delivery of useful services to its members. Therefore, it acts as a bridge for cooperation between the private sector, the government and organised labour to remove barriers to trade, mobilise investment and foster a good environment for businesses.
The CEO of BE, E. Nathi Dlamini, spoke about his excitement “to see that we have so much local talent and visionaries who are looking into bringing solutions that are in line with the demands of the future”. “This is why we are truly thankful to GET.invest advisors for looking into these projects”, he added. Dlamini mentioned that the partnership on renewable energy had just begun and that more collaborations were expected in the near future. GET.invest Eswatini was established in October 2022 with support from the European Union, Germany, Sweden, the Netherlands and Austria, building on the services of the broader GET.invest programme but tailored to the context of Eswatini.
Participants expressed their appreciation to the organisers for enabling business developers who are engaged in renewable energy to build ties with prospect investors. An attendee emphasized the importance of the partnership between GET.invest and Business Eswatini as it will enable locals to find funding for their projects, hoping for more people to generate their own clean energy to run their business operations.
The Renewable Energy Project Development Day shows the growing interest of businesses and aspiring project developers in the area. Indeed, the private sector can lead the energy transition in Eswatini. However, proactive investment mobilisation is needed to unlock this potential, a goal to which GET.invest has been contributing through the country window. To discover the rest of GET.invest services in Eswatini, including the Funding Database and the possibility to receive targeted coaching and business advisory support to get your project investment-ready through the Finance Catalyst, click here.