
Passing on Love to Future Generations: The TaiwanICDF Assists Women Entrepreneurs in Eswatini
Since January 2024, the International Cooperation and Development Fund (TaiwanICDF) technical mission in the Kingdom of Eswatini has helped manage a US$1 million fund from Taiwan for women entrepreneurs in the African country. Through the establishment of the Kuyenteka Savings and Credit Cooperative Society (SACCOS), and the support of local government departments and schools, the technical mission works to strengthen Eswatini’s support mechanisms for micro-enterprises, while training local women in business management and product sales. To showcase the project’s achievements, a presentation event was held on September 20th, 2024. The event was attended by Embassy of the Republic of China (Taiwan) in the Kingdom of Eswatini Minister Ching-Lin Tsuei, and Eswatini Minister of Commerce, Industry and Trade, Manqoba Khumalo, both of whom expressed their appreciation for the technical mission’s guidance and efficient use of the fund.
Kuyenteka SACCOS helps beneficiaries to foster financial literacy, and currently has over 500 members. The cooperative strictly follows repayment procedures, and actively reminds borrowers to repay loans on time. Through an interest-based incentive system, it encourages borrowers to reinvest profits and repay loans early. Kuyenteka SACCOS recently adopted the MAMBU digital information system, enhancing management efficiency and providing a clear overview of all loan transactions.
The cooperative has accepted funding applications since March 2024, and as of September, 270 households have received loans totaling E5,113,651 (approximately US$296,845). The majority of beneficiaries have been from Hhohho Province (101 households) and Manzini Province (68 households), with others spread across different regions.
Among the first loan recipients was Nomfundo Mabuza, a female farmer from Lubombo Province. In March, she secured a loan of around E20,000 to purchase high-quality maize and vegetable seeds. By expanding her farmland and improving cultivation techniques, she doubled her income to E50,000 and fully repaid her loan in September. During the loan period, Nomfundo gave birth to a baby girl. In gratitude for Taiwan’s assistance, she named her daughter “Taiwan,” symbolizing her appreciation for the support that transformed her life journey.
- Update: 2024/10/30
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