One of only two African nations with investment-grade credit ratings is Swaziland. The majority of the significant political and economic problems that afflict other African nations are remarkably absent from the nation. The administration supports the constitution’s guarantees of democracy and the rule of law. The openness and accountability of its government have improved in Swaziland.
It was ranked 30th out of 178 countries in Transparency International’s Corruption Perceptions Index (tied with Austria). It is categorized as having a free market. Additionally, it is in the top 20% of African nations for income per capita.
Overview of agriculture in Swaziland
The GDP contribution of agriculture varies according to the success of the harvest; it was 10% in 2000, 13% in 1998, and 11% in 1994. Sugar, wood pulp, maize, citrus fruit, and pineapples are the main products. The majority of non-Swazis possess about 44% of the land, which is held on a free-hold basis (i.e., the owner is free to buy and sell the land at any time). The sugar, citrus fruits, and forestry goods that make up the majority of exports are produced on vast estates that are primarily under European control. Seventy percent of the population farms on a small scale, frequently part-time, on the remaining land, also referred to as Swazi Nation Land (SNL).
Fruit concentrates have taken the place of sugar as the mainstay of the economy. It nevertheless continues to be the greatest employer in the nation. The primary crops grown by SNL farmers are cotton and maize, which is the nation’s staple diet. The Royal Swaziland Sugar Corporation is beginning to diversify into this crop as it begins to introduce large-scale cotton cultivation. Large estates primarily owned by Europeans and located in the Low-Veld region are where oranges and grapefruit are farmed for export.
One of Swaziland’s principal exports is unbleached wood pulp. Six percent of the country is covered with plantations, mostly in the High Veld. Usutu forest, one of the biggest artificial forests in the world, makes up about two-thirds of this area.
Natural resources in Swaziland
Together, mining, agriculture, and forestry comprise 17% of the GDP. The most significant mineral resource is titanium ore, which accounts for more than 40% of exports. The most common mineral is iron ore (38%) followed by gold (15%) and coal (15%). six percent). In rural areas, agriculture plays a significant role in the food industry. It makes up over a quarter of the nation’s GDP. Rice, cotton, maize, and sugar cane are all grown commercially.
Production can be increased through irrigation. Wood products are produced by forestry, and they account for 15% of all export earnings. Other agricultural goods include dairy products, seafood, and livestock. Industries manufacture clothing, footwear, leather goods, textiles, and apparel. Despite producing the majority of the country’s exports, these sectors are predominantly manufacturing-based.
Is Swaziland good for business?
In Swaziland, the economic hubs are strongly established. One of them is the southern African nation of Swaziland. Wool, wood pulp, and sugar are its three main exports. One of the most prosperous states in Africa, Swaziland has been working hard to increase foreign investment and enhance its reputation.
It joined the COMESA and SADC (Southern African Development Community) organizations (Common Market for Eastern & Southern Africa). Swaziland has experienced economic growth and is putting a plan into action.
Promoting reforms that are beneficial to trade and investment. The focus of the government and the World Bank was on boosting private sector growth and luring investment.
Business-friendly policies and government initiatives of Swaziland
With several measures and rules in place to make starting and running a business simpler than ever, Swaziland is now more business-friendly than ever. Many government programs and other efforts are in place to support the success of your firm. Additionally, a new initiative called the Seed Capital Fund seeks to finance companies that require funding.
This programming is already in use and helping Swaziland’s company owners grow their enterprises. In addition to these advantages, there are several limitations in place to shield investors from some of the risks associated with investing.
You may also find these articles helpful
Start an agriculture business in Iceland
Start an agriculture business in Hungary
Start an agriculture business in Greece
