The Small Enterprises Development Company (SEDCO) and Limkokwing University signed a Memorandum of Understanding (MoU) on 24 March 2021 at the SEDCO Head Office in Mbabane.
With recent statistics indicating that 70 percent of Eswatini’s start-up businesses fail within the first two years of operating due to a lack of capacity-development and mentorship, the MoU aims to decrease the percentage of start-up failures. It will enable business development services and facilitate market access training to companies under Limkokwing Eswatini’s LEAP programme.
SEDCO’s acting CEO Themba Dlamini said his company will provide training, advice on industry trends and facilitate market linkages for companies under the Limkokwing Eswatini’s LEAP programme. Dlamini added that it would help the said companies to develop into fully-fledged micro, small and medium enterprises (MSMEs) to ensure their growth and survival within the local economy. The establishment of incubation facilities within SEDCO for LEAP companies is still being negotiated.
“There has always been a need for us to collaborate and co-ordinate our efforts in carrying out the mandates of both organisations in the development of entrepreneurship capabilities among the youth of Eswatini. It brings us great pride and joy to have finally realised the official confirmation of this collaboration and co-ordination”.
Limkokwing Entrepreneurship Accelerator Platform (LEAP) is a programme developed to train and assist students on internship by providing a platform for them to start their own businesses, instead of waiting to be employed. The programme is run by the University along with key members in the industry who are also part of an Industry Advisory Panel specifically set up to mentor and help students develop and grow entrepreneurial mindsets.