TO HELP YOURSELF
Eswatini Development Finance Corporation (FINCORP) was launched by His Majesty King Mswati III in November 1995, with the main objective of economically developing Emaswati through the provision of accessible financial services. FINCORP is a registered private corporate with two shareholders namely, The Government of Eswatini and Tibiyo Taka Ngwane with shares of 80% & 20% respectively.
FINCORP continues to fulfil its mandate as commissioned by His Majesty King, which is to empower Eswatini citizens through provision of meaningful access to credit, job creation and poverty alleviation. FINCORP has, to date, provided access to financial services to thousands of Small and Medium Enterprises and individuals across all economic sectors which make a meaningful contribution to economic growth.
Entrepreneurs both in Nation Land (NL) and Title Deed Land (TDL) continue to receive financial assistance to start-up new businesses and expand existing ones. A significant proportion of FINCORP’s loan book represents agribusiness activities mostly situated in rural areas. Statistics have shown that the agricultural sector offers enormous job opportunities to the general population throughout the country. Other major sectors include trucking & haulage, forestry, and general business covering trade, retail, manufacturing, construction and services.
FINCORP in recent years diversified its product offering by setting up two subsidiary companies, namely, FIRST FINANCE COMPANY offering
General Purpose Finance and FINSURE INSURANCE BROKERS offering Insurance Products underwritten by local insurance companies.
FIRST FINANCE COMPANY has grown to become the second leading microlender in the country. FINSURE on the other hand has presented an opportunity to broaden product offering in the financial services sector and convenience for the clients.
Following the change of name for the country to Eswatini which was duly pronounced by His Majesty King Mswati during the 50/50 National Celebrations in April 2018, the organization also announced its new name: ESWATINI DEVELOPMENT FINANCE CORPORATION in September 2018. The new company name was unveiled with a new logo as part of the brand evolution. A major Milestone for the organization has been the completion of its office Building which houses FINCORP’s Head Office, FINCORP Mbabane branch and FIRST FINANCE Head office and Branch at the corner of Gwamile and Dabede Streets in Mbabane.
The future for the organization looks promising and with a wide range of opportunities. The last 5-year strategic plan came to an end in March 2022. The organization has now adopted a new strategy that seeks to revolutionize FINCORP’s work as a Development Finance Institution up to 2027. High up on the agenda in the next five years shall be technology/digital transformation. We are setting out this new strategy to put FINCORP at the forefront of the changing financial landscape. This transformation journey will help us to deliver our most ambitious goal yet-an organization that is digital, innovative, and nimble in order to achieve sustainable growth as we continue ‘Helping You To Help Yourself.’
“To support inclusive national economic growth through the expansion of sustainable access to financial services for indigenous entrepreneurs and the general population by helping them to be innovative, be growth driven and ultimately improving the quality of life for all.”
“To position ourselves nationally as the leading provider of development finance and other support financial services which directly contribute to national economic development.”
“To economically empower indigenous entrepreneurs through the provision of accessible and sustainable financial services.”
To finance and promote the development of enterprises owned by Emaswati.
- To support the expansion of loan financing to SME’s.
- To create jobs and alleviate poverty.
- To make a meaningful contribution to the eradication of poverty among people at grassroot level.
- To support the provision of business advisory services, training, monitoring, technical transfers and development of others products and services for SME’s.