DOCSLIB.ORG

ESEPARC Corporate Report

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
ESEPARC Corporate Report EconomySilver lining for Eswatini Here’s how to fix things CORPORATE REPORT CORPORATEREPORT FOREWORD Rebuilding Eswatini of our dreams, working together to secure the future WITH DUMISANI MASILELA erals beneficiation, tourism, services, energy, ESEPARC CHAIRMAN “Working together water, health, and education sectors. Working together we have set in motion a he Kingdom of Eswatini is in its half we have set in motion number of levers to boost the economy’s fu- century and we have every reason to a number of levers to ture growth. look to a promising future with con- On behalf of the Board, Executive and en- fidence as we honour this milestone boost the economy’s tire ESEPARC family, I wish to conclude by Tand celebrate our collective achievements. thanking His Majesty the King for the tan- The celebration of 50 years of independence future growth.” gible actions he continues to take to ensure represents a seismic shift in our development improved growth and tangible results for the agenda as a nation, as it progressively ushers Kingdom of Eswatini. I also wish to take this in a new era of equitable and inclusive eco- in the Kingdom of Eswatini. opportunity to pledge our full support to His nomic development for emaSwati. We remain committed to achieving His Maj- Majesty’s Government, the private sector, Over the years, Eswatini has made remark- esty’s vision of a dynamic industrial and glob- public institutions, and civic society organisa- able progress in promoting development ally competitive Eswatini economy, charac- tions as we come together, heeding the King’s centred inclusive growth for the country and terised by inclusive growth and development, rallying call to lend a hand in working for Es- its people. Important milestones have been innovation, decent employment, and equity. watini of our dreams. Let us all refuse to suc- reached in terms of infrastructure rollout as a This, ultimately, is an economy built on the cumb to any form of despair and adversity, but catalyst for economic growth, the creation of full potential of all. let us constantly improve the work that we do employment opportunities whilst laying the ESEPARC’s areas of focus include research to meet the needs and expectations of all the foundation for service delivery and sustainable to fine tune Eswatini’s economic strategies by citizens of our great country. livelihoods. mainly improving human capital, leveraging Be that as it may, Eswatini, like many other the country’s natural resources, boosting small I thank you. countries, is facing severe headwinds, and is and medium enterprises, and the entrepreneur- CONTRIBUTORS seized with threatening economic conditions. ial community, poverty alleviation, and find- This however has not stopped us from work- ing innovating forward-looking solutions to EDITOR ing together as a nation to find opportunities deal with climate change. BHEKI MAKHUBU in these trying times. We continue to do all we As ESEPARC we firmly believe that the can to reignite economic growth. country should align education and training PROJECT COORDINATOR/ WRITER We at ESEPARC are highly encouraged that to meet the needs of the new economy we en- MUSA NDLANGAMANDLA vision. We must strengthen partnerships with His Majesty King Mswati III continues to give ESEPARC KNOWLEDGE MANAGER impetus to efforts to attain broader prosperity technology companies, inside Eswatini and in Eswatini and finding sustainable and lasting abroad, to train large numbers of young people TEETEE ZWANE ways to stimulate economic growth and realise in digital skills so that they can take advantage the full potential of the people. of employment and entrepreneurial opportuni- Emboldened by His Majesty’s call for uni- ties in the digital economy. ty and evidence-based interventions to set The 4th Industrial Revolution is upon us and the country on a new growth path, and in the it is fundamentally transforming the way we process improve the welfare of emaSwati, we live, work and relate to one another all around shall act with greater determination to increase the world. It offers enormous opportunities, momentum on supporting government, the pri- and as Eswatini, we need to be fully prepared vate sector, public sector, and civil society in for it. order to increase economic opportunities. We Within the context of Eswatini’s economic want to ensure that no one is left behind. agenda as outlined in our economic policy blue At ESEPARC, we are geared towards provid- prints namely the National Development Strat- ing quality research, tangible evidence, and re- egy, as revised, ESEPARC supports His liable information to address Eswatini’s most Majesty’s government’s efforts to create pressing issues such as strategies to create and and implement an industrial policy ac- maintain sustainable jobs and improve the lev- tion plan whilst creating a solid man- els of business and consumer confidence. ufacturing base in Eswatini. Through ESEPARC remains steadfast in our belief our private sector supported initiatives of the importance for continued collaboration such as proudly “Made Eswatini” we between government, business, labour, and will fuel national resource mobilisa- civil society as key to growing the economy tion efforts for infrastructure, in- and creating jobs. By working together, we can formation communication tech- build an inclusive economy, which benefits all nology and innovation. This is emaSwati. In this regard, we shall continue crucial as the country seeks to support ongoing efforts by His Majesty’s to gain access to funding Government to set a framework for econom- for projects in, and not ic growth through progressive economic and limited to, manufactur- social policies. We shall continue to play our ing and the creation of facilitatory role of being the glue for efforts value-adding activi- aimed at creating an enabling environment for ties especially in the meaningful dialogue and evidence-based pol- agro-processing, icy planning, implementation, and monitoring mining and min- DUMISANI MASILELA 2 OCTOBER2018 OCTOBER2018 CORPORATEREPORT ESEPARC in a Nutshell SEPARC is the first think-tank in the country whose general purpose is to A Sample of Ongoing generate evidence to inform policy formulation in Eswatini. Projects/Studies; EIt is a semi-autonomous entity established in z The Economic Impacts of the Lower 2008 through a joint funding arrangement be- Usuthu Irrigation Project tween the Government of Eswatini and the Af- z Teenage Pregnancies in Eswatini rican Capacity Building Foundation (ACBF). z A Perspective on the History of The broad context for the establishment of Innovation in Eswatini ESEPARC was to respond to the poor perfor- z Energy Consumption in Eswatini mance of the economy of Eswatini during the z The Economic Benefits of TVET in 1990s and 2000s. The overall objective of ES- Eswatini EPARC is to improve economic governance in z Inequality of Opportunities in Eswatini through facilitating evidence-based A Sample of Education in Eswatini policy formulation, implementation, and Completed Projects; z An Impact Assessment of the Small- monitoring. It also seeks to build sustainable z Swaziland Economic Conference 2017 Scale Enterprise Loan Guarantee national capacities in the area of economic z Public Lecture: Knocking on Moral Val- Scheme policy research and policy analysis. One of the ues to Integrate Indigenous Knowledge z Factors Influencing the Success of main causes of the sustained poor performance with Development SMMEs of the economy of Eswatini is not only the in- z The Socio-Economic Impact of the z Key sector review – Agricultural and sufficient or lack of qualified local economic 2015/16 El Niño Induced Drought Manufacturing policy analysts and managers but also lack of z Harnessing Swaziland’s Demographic z Gender and Poverty in Eswatini. a culture of evidence-based public policy de- Dividend cision-making. For a very long time, policies z Assessing the Impact of National Mar- were not based on what is happening on the keting Boards on Consumers and Pro- ground but tended to be abstract and almost ducers’ Welfare in Swaziland Majozi Sithole (former Minister of Finance not responsive to the needs of emaSwati. z Swaziland Research and Development and now Governor of the Central Bank of Es- Eswatini was overly reliant on foreign tech- Statistics watini). nical consultants mostly due to lack of local z Industry Labour Force Skills Require- “Continued sustenance of ESEPARC rests institutional and human capacity in the coun- ment Investigation entirely on top talent or good researchers, try. The establishment of ESEPARC was a z 2016 Public Service Customer Satisfac- adequate use of our outputs by the public bold move by the Government of Eswatini to tion Rapid Assessment Report and repeat business from our core stakehold- use homegrown policy strategies. ESEPARC z Sexual Harassment in the Private and ers. Over and above this, we mobilise resourc- is very important for the country. Think-tanks NGO Sector Workplace es through demand driven studies,” Sithole provide critical new knowledge on the per- z The State of the National System of In- says. formance of the economy and what can be novation done to continually improve it. They also help z Estimating the Rural and Urban Living *For details on the projects/studies in human capital development especially in Wage in Swaziland’s Handicraft Sector visit http://www.separc.co.sz policy matters and in keeping the culture of Or download our APP @ Google research high in both the public and private Playstore: ESEPARC Insights sectors. They provide useful knowledge for As a think-tank, ESEPARC is as good as the DUMISANI MASILELA decision-makers. knowledge it produces, asserts board member OCTOBER2018 OCTOBER2018 3 CORPORATEREPORT COVER STORY Silver lining for Eswatini economy: Here’s how to fix things BY MUSA NDLANGAMANDLA ment shortages; rising household poverty levels at the height of growing unemploy- ith the economy on free fall ment and a country buckled by massive over the last three decades corruption, there are hidden strengths that and pressure mounting on Eswatini can tap into to create new engines public finances, there is hope of economic growth.
Load more

Recommended publications
  • Kingdom of Eswatini: 2019 Article IV Consultation-Press
    IMF Country Report No. 20/41 KINGDOM OF ESWATINI 2019 ARTICLE IV CONSULTATION—PRESS RELEASE; February 2020 STAFF REPORT; AND STATEMENT BY THE EXECUTIVE DIRECTOR FOR THE KINGDOM OF ESWATINI Under Article IV of the IMF’s Articles of Agreement, the IMF holds bilateral discussions with members, usually every year. In the context of the 2019 Article IV consultation with the Kingdom of Eswatini, the following documents have been released and are included in this package: • A Press Release summarizing the views of the Executive Board as expressed during its January 31, 2020 consideration of the staff report that concluded the Article IV consultation with the Kingdom of Eswatini. • The Staff Report prepared by a staff team of the IMF for the Executive Board’s consideration on January 31, 2020, following discussions that ended on November 4, 2019, with the officials of Kingdom of Eswatini on economic developments and policies. Based on information available at the time of these discussions, the staff report was completed on January 15, 2020. • An Informational Annex prepared by the IMF staff. • A Statement by the Executive Director for the Kingdom of Eswatini. The IMF’s transparency policy allows for the deletion of market-sensitive information and premature disclosure of the authorities’ policy intentions in published staff reports and other documents. Copies of this report are available to the public from International Monetary Fund • Publication Services PO Box 92780 • Washington, D.C. 20090 Telephone: (202) 623-7430 • Fax: (202) 623-7201 E-mail: [email protected] Web: http://www.imf.org Price: $18.00 per printed copy International Monetary Fund Washington, D.C.
    [Show full text]
  • The Economic Benefits of Vocational Education and Training in the Kingdom of Eswatini
    The Economic Benefits of Vocational Education and Training in the Kingdom of Eswatini GUGULETHU MGABHI1* AND MANGALISO MOHAMMED1 1Eswatini Economic Policy Analysis and Research Centre, Mbabane, Eswatini *Correspondence: [email protected] Abstract. This study assesses the economic benefits of the Government of Eswatini’s investment to technical vocational education and training (TVET) from 2005 to 2017. TVET Graduates from 12 public TVET Institutions have been tracked to uncover their absorbability in the labour market and, or self-employment. The study finds that the economic return of the Government of Eswatini’s investment to TVET in 2017 is E1,51. This means that for every E1 invested by the Government of Eswatini to TVET, the economy generates E1,51 through the TVET graduates’ activities in self-employment, formal employment, and part-time skills utilisation. With regards to highly demanded courses amongst the graduates, ccomputer studies have been found to be highly demanded at 20.9%, while agriculture is lowly demanded at 6.3%. The study finds that 56.6% of the graduates are absorbed in formal employment, while 13.7% are engaged in self-employment, meaning that 29.9% are part of the 32.4% unemployed persons in the country. However, the level of unemployment is still high, 43.3%. Graduates who were not economically active before enrolling at the TVET colleges have been found to be formally employed, 35%, 14% are self-employed, 2.5% are both formally and self-employed, while 48.5% are unemployed. A majority (58.5%) of employed graduates are from Gwamile VOCTIM, while self-employment is high amongst graduates from Big Bend Rural Education Centre, 44.4%.
    [Show full text]
  • AMERC Quarterly Review
    AMERC Quarterly Review A PUBLICATION OF AFRICA MIDDLE EAST REGIONAL COMMITTEE OF IOSCO 53rd Edition / January- March 2019 HIGHLIGHTS OF THE 43RD AFRICA MIDDLE EAST REGIONAL COMMITTEE MEETING 13 MAY 2019 SYDNEY, AUSTRALIA FOR AMERC PRIORITIZATION AND FOLLOW UP Dear AMERC Colleagues, Markets Authority, Saudi Arabia; Conseil du Marché I was delighted to chair the 43rd Africa Middle East Regional Financier, Tunisia; and Securities and Commodities Committee (AMERC) in Sydney, Australia on Monday, 13th Authority, United Arab Emirates. May 2019. e meeting took place within the 44th Annual e AMERC members were fortunate to engage with Chair of Meeting of the International Organization of Securities the Committee on Emerging Risks (CER) Mr. Paul Redman Commissions (IOSCO). On behalf of members, I wish to during the meeting. Mr. Redman articulately detailed the convey AMERC's appreciation to Chairman of the Australian process that is involved in development of the Risk Outlook, Securities and Investment Commission Mr. James Shipton, which is submitted to IOSCO Board for adoption annually in and IOSCO Secretary General Mr. Paul Andrews for putting October. Mr. Redman observed that seven Issue Notes were together a successful annual meeting. received from the IOSCO membership as a whole. Allow me to congratulate and also convey the commendation of IOSCO Discussion on Emerging Risks in AMERC Region Secretary General to the AMERC membership for providing e 43rd AMERC Meeting provided an opportunity for majority of the dra Issue Notes presently under members to reect on emerging risks, vulnerabilities and consideration by the CER. e submissions by AMERC trends in our region, which call for regulators' attention.
    [Show full text]
  • Economic Impact Analysis of Credit Guarantee Schemes
    Economic Impact Analysis of Credit Guarantee Schemes in Eswatini: Exploring the relationship between A Case of the Small Scale Enterprise Loan unemployment and mental illness among the Guarantee Scheme (SSELGS) youth in selected communities of Eswatini. By Maqhawe Zwane 2019 Economic Impact Analysis of Credit Guarantee Schemes in Eswatini: A Case of the Small Scale Enterprise Loan Guarantee Scheme (SSELGS) By Maqhawe Zwane Abstract Using data from 315 beneficiaries of the Small Scale Enterprise Loan Guarantee Scheme, this study assesses the impact of the Small Scale Loan Guarantee Scheme. The study assessed both the financial and economic additionality of the scheme. The study used a structured questionnaire and face-to-face interviews to elicit data from beneficiaries whereas key informant interviews were used to elicit data from participating banks. The study also assessed visibility of the scheme as well as its efficiency in terms of loan approval period and claim processes. From the sampled beneficiaries, 174 SMEs would not have accessed credit if the scheme was non-existent. Collectively, these SMEs received E42, 918,616.00. On the other hand, 72 of the 174 started new businesses and at the time of the interview, they collectively employ 681 people. The study found that the default rate is high at 44.3 %. The approval period of loan application varies widely, with some respondents reporting a period of less than a month while others reported a period of up to four years. The study concludes that the scheme has made a positive impact in both financial and economic additionality. However, two factors (inefficiency in scheme’s operation and high default rate) threaten the scheme’s existence.
    [Show full text]
  • Revised Small, Micro, & Medium Enterprise Policy of Eswatini
    2018 REVISED SMALL, MICRO, & MEDIUM ENTERPRISE POLICY OF ESWATINI SMMESREPOSITIONING & UP-SCALING SMMES FOR MEANINGFUL GROWTH AND STABILITY Contents Foreword ..................................................................................................................................................... 4 PART A Error! Bookmark not defined. CHAPTER 1: INTRODUCTION .................................................................................................................... 5 INTRODUCTION ........................................................................................................................................... 5 Alignment with National Policies ............................................................................................................... 6 Policy Strategic Pillars .................................................................................................................................. 6 Structure of the Document ........................................................................................................................ 7 CHAPTER 2: SMMENATIONAL POLICY FRAMEWORK .............................................................................. 8 BRIEF OVERVIEW OF ECONOMY OF ESWATINI .......................................................................................... 8 1.1. Definition of SMMESector ............................................................................................................. 9 1.2. Profile of the SMMESector..........................................................................................................
    [Show full text]
  • Agricultural Finance Scoping
    SCOPING REPORT Agricultural Finance Scoping An Agriculture Finance Scoping Exercise in eSwatini MAY 2021 DISCLAIMER: This document was prepared by Imani Development International Ltd, and should in no way be considered to represent the views and opinions of FinMark Trust and/or any donors, organisations, or persons. Prepared by Imani Development International Ltd www.imanidevelopment.com About FinMark Trust FinMark Trust is an independent non-profit trust whose purpose is ‘Making financial markets work for the poor, by promoting financial inclusion and regional financial integration’. We pursue our core objective of making financial markets work for the poor through two principle programmes. The first is through the creation and analysis of financial services consumer data to provide in depth insights on both served and unserved consumers across the developing world. The second is through systematic financial sector inclusion and deepening programs to overcome regulatory, supplier and other market level barriers hampering the effective provision of services. Together, these programmes unlock financial inclusion and sector development through a symbiotic relationship between rigorous data collection and research activities. Our work can be found in South Africa, throughout the SADC region and the global arena. For more information: Visit our website at www.finmark.org.za Email [email protected] Call us on +27 11 315 9197 ACKNOWLEDGEMENTS This report was authored jointly by FinMark Trust and Imani Development. We would like to thank all the individuals who participated in this project in their personal and institutional capacity, without which the project would not have been successful. These stakeholders included government institutions, donor agencies, financial service providers, private sector players and industry associations.
    [Show full text]
  • Factors Affecting Profitability of Smallholder Vegetable Farmers in the Shiselweni Region, Kingdom of Eswatini (Swaziland)
    Sustainable Agriculture Research; Vol. 8, No. 1; 2019 ISSN 1927-050X E-ISSN 1927-0518 Published by Canadian Center of Science and Education Factors Affecting Profitability of Smallholder Vegetable Farmers in the Shiselweni Region, Kingdom of Eswatini (Swaziland) Lovemore M. Rugube1, Sifisile P. Nsibande1, Michael T. Masarirambi2 & Patricia J. Musi3 1Department of Agricultural Economics and Agribusiness Management, Faculty of Agriculture, University of Eswatini, PO Luyengo, Luyengo M205, Eswatini 2Department of Horticulture, Faculty of Agriculture, University of Eswatini, PO Luyengo, Luyengo M205, Eswatini 3Department of Consumer Science Education and Community Development, Faculty of Consumer Sciences, University of Eswatini, PO Luyengo, Luyengo M205, Eswatini Correspondence: Lovemore M. Rugube, Department of Agricultural Economics and Agribusiness Management, Faculty of Agriculture, University of Eswatini, PO Luyengo, Luyengo M205, Eswatini. Tel: 268-7652-9804. E-mail: [email protected] Received: October 24, 2018 Accepted: November 8, 2018 Online Published: January 28, 2019 doi:10.5539/sar.v8n1p104 URL: https://doi.org/10.5539/sar.v8n1p104 Abstract Agriculture is the main anchor of the Eswatini economy and profitability in this sector still remains vital for sustainable development of the economy. This study investigated the factors affecting profitability of smallholder vegetable farmers in the Shiselweni region. Primary data was obtained using a structured questionnaire and personal interviews from 60 vegetable farmers. Data was analyzed using descriptive statistics, enterprise budget, profitability ratios and multiple linear regression models. The SPSS software was used. The results showed that the mean age of the vegetable farmers was found to be 50.5 years, the mean household size was 8 people, mean farming experience was 3 years, mean farm size was 3 hectares and the majority of the farmers had high school education.
    [Show full text]
  • Evolution of Trade in Eswatini from 1968 to 2015: a Developmental Perspective
    Sacolo, Mohammed and Dlamini: Evolution of trade in Eswatini from 1968-2015 African Review of Economics and Finance | ISSN 2042-1478 | Volume 10 | Issue 2 | December 2018 Evolution of trade in Eswatini from 1968 to 2015: A developmental perspective THABO SACOLO1*, MANGALISO MOHAMMED1 AND THEMBUMENZI DLAMINI1 1 Eswatini Economic Policy Analysis and Research Centre * Correspondence: [email protected] Abstract Using data from 1968 to 2015, this paper presents an assessment of the evolution of trade in the Kingdom of Eswatini, tracking changes in the composition of both import and export commodities. These changes are viewed in light of the institutional development, trade relations, and infrastructure development in the Kingdom of Eswatini. The paper examines the trends of selected economic indicators such as the imports, exports, and trade balance. The paper also presents changes in shares of different commodities to total exports or imports. Significance of trading partners, in terms of how much commodities they provide to or absorb from Eswatini, is also presented. The study provides evidence that, even though the country has put in place institutional frameworks to facilitate trade, trade balance has been negative for the most part of the review period, the export basket and export destinations have experienced minimal changes, and imports sources showed insignificant changes. Based on these observed trends, it is apparent that Eswatini had not been able to take advantage of most of the trade agreements, at least not to their full potential. It is therefore a recommendation of the study that efforts to improve the country’s comparative advantage should match the strides to build trade relations for trade arrangement to benefit the economy.
    [Show full text]
  • Aluminium Phosphide Poisoning: a Case Series at Two Hospitals in The
    Pyramid Journal of Medicine 2019; volume 2:21 Aluminium phosphide within the first 24 hours are cardiac dys- poisoning: A case series at two rhythmias.4 Correspondence: Friezland Oswatch, The The exact mechanism for AlP poisoning Yellow Pharmacy, Box 193, Mankayane, hospitals in the Manzini is not fully understood. It is thought that it Manzini, Eswatini Region, Eswatini inhibits Cytochrome C Oxidase, however, Tel.: +268.78313718. that has only been shown in-vitro and is E-mail: [email protected] 1 thought not to have such a significant effect Friezland Oswatch, 6 Key words: Weevil tablet, Aluminium 2 in humans. Others have suggested that for- Rodney H. Magwenya Phosphide poisoning, Eswatini, Poisoning in mation of highly reactive hydroxyl radicals 1 Africa. The Yellow Pharmacy, Mankayane, also leads to the fatal cellular respiratory Manzini, Eswatini; 2Outpatient 5 failure. Unfortunately, there is no known Acknowledgements: The authors would like Department, Mankayane Government antidote to aluminium phosphide poisoning, to thank the following who have contributed Hospital, Mankayane, Manzini, Eswatini however, several authors have suggested to the successful completion of this paper; supportive measures for treating patients Prof. Richard Heller for his expert critique, with mixed outcomes.7-11 Nompumelelo Nsibandze, Gcinekile Dlamini, Most reported cases in the literature are Khumbuzile Dlamini, Skhumbuzo Dlamini Abstract from India, Jordan, Morocco and Iran,6,9 (the data managers at both hospitals) for assisting with retrieval of the data, and others The absence of an antidote to with reported mortality rates well above 50%.4 However, not much information has who contributed to this document in one way Aluminium Phosphide (AlP) poisoning has or another but have not been mentioned here.
    [Show full text]
  • World Economic League Table 2020
    World Economic League Table 2020 A world economic league table with forecasts for 193 countries to 2034 December 2019, 11th edition World Economic League Table 2019 2 Disclaimer Whilst every effort has been made to ensure the accuracy of the material in this document, neither Centre for Economics and Business Research Ltd nor the report’s authors will be liable for any loss or damages incurred through the use of the report. Authorship and acknowledgements This report has been produced by Cebr, an independent economics and business research consultancy established in 1992. The views expressed herein are those of the authors only and are based upon independent research by them. The report does not necessarily reflect the views of the Chartered Institute of Building. London, December 2019 World Economic League Table 2020 3 Contents Introduction – The World Economy 11 World Economic League Table 19 League Table by 2034 ranking 19 League Table by 2020 ranking 26 League table A to Z 33 Country forecasts 40 Afghanistan 40 Albania 41 Algeria 42 Angola 43 Antigua and Barbuda 44 Argentina 45 Armenia 46 Aruba 47 Australia 48 Austria 49 Azerbaijan 50 The Bahamas 51 Bahrain 52 Bangladesh 53 Barbados 54 Belarus 55 Belgium 56 Belize 57 World Economic League Table 2020 4 Benin 58 Bhutan 59 Bolivia 60 Bosnia and Herzegovina 61 Botswana 62 Brazil 63 Brunei Darussalam 64 Bulgaria 65 Burkina Faso 66 Burundi 67 Cabo Verde 68 Cambodia 69 Cameroon 70 Canada 71 Central African Republic 72 Chad 73 Chile 74 China 75 Colombia 77 Comoros 78 Democratic Republic of
    [Show full text]
  • Assessing the Relationship Between Brain Drain and the Economy of Eswatini
    Assessing the Relationship between Brain Drain and the Economy of Eswatini Zamokuhle Manana1* 1Eswatini Economic Policy Analysis and Research Centre (ESEPARC) *Correspondence: [email protected] Abstract. Eswatini has been experiencing the brain drain phenomenon since the early 90s. Previous studies on the phenomenon attribute the brain drain to high unemployment and the labour market’s inability to absorb emaSwati. With that said, there are still no studies have been conducted to quantify the impacts of brain drain on the economy of the country given its upward trajectory. It is on this premise, that this paper quantifies and assess the relationship between brain drain and economic growth in the short-run. To this end, the study employs secondary annual time series data from the World Bank Indicators for the period 1991 to 2017. The study employs the Bounds approach for co-integration and the short-run Autoregressive Distributed Lag (ARDL) model as estimation techniques. The bounds test found that there is no long-run equilibrium relationship between the variables. According to the ARDL short-run model the study found that all other things being equal, when brain drain increases by 1 percent at a given time period, Gross Domestic Product increase by E171 million the following year in the short-run. Furthermore, the Granger causality test reveals a unidirectional relationship running from Gross Domestic Product to brain drain at the 1% significance level, that is, past economic growth trends is an important predictor of future brain drain trends. Keywords: Brain Drain; Bounds Test; Autoregressive Distributed Lag Model; Eswatini. 1. Introduction Many countries, especially developing countries across the globe, have seen their native human capital reservoir decline due to migration.
    [Show full text]
  • Investor's Guide to Eswatini
    INVESTOR’S GUIDE TO Eswatini PREFACE INVESTOR’S GUIDE TO ESWATINI Strategically situated between South Africa and Mozambique, Kingdom of Eswatini In the preparation of this guide, every effort has been made to offer current, correct offers a safe and peaceful atmosphere for business. The Kingdom boasts of natural and clearly expressed information. However, the information in the text is intended to advantages including exquisite landscape, rich natural resources and relatively well- afford general guidelines only. This publication is distributed with the understanding developed infrastructure in Africa. Its natural beauty and preserved culture coupled that COMESA RIA is not responsible for the result of any actions taken on the basis of with a contemporary lifestyle make living and working in the country an enjoyable information in this publication, nor for any errors or omissions contained herein. experience. The country is a competitive cost base for value added manufacturing coupled with educated and trainable workforce. Its strategic linkage to leading regional and international markets including SACU, COMESA, SADC, AGOA, EPA, SACU Mercosur, EFTA, and the CFTA makes Eswatini the investors’ preference for export-ori- ented manufacturing. The strong trade relations between Eswatini and South Africa are enhanced by the Common Monetary Area (CMA), which pegs the Swati Lilangeni one-to-one with the South African Rand. CONTENTS 1 General Country Information 8 2 Legal and Judicial System 10 3 Economy 12 4 Licensing and Permits 14 5 Population/Demographics
    [Show full text]