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MISSION

“To support inclusive national economic growth through the expansion of sustainable access to financial services for Swazi entrepreneurs and the general population by helping them to be innovative, be growth driven and ultimately improving the quality of life for all”. 

VISION

“To position ourselves nationally as the leading provider of development finance and other support financial services which directly contribute to national economic development”.

   

PURPOSE

To economically empower Swazi Entreprenurs through the provision of accessible and sustainable financial services. 

 

 

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Where We Are

MANANA DANIEL - HANDS THAT GENERATE WEALTH

Background

Mr. Manana has over 30 years in vegetable and crop production, established a name for himself as a producer and supplier of the best tomatoes and cabbages, with numerous marketers and shops at Luve and the Manzini.


The growth of the business, whose success has never been anticipated to climax to this point, can be attributed to years of experience for Mr Manana, considering that he does not have any formal agricultural training.

He is an ex-miner who went into the trade as a result of funds that ran dry when he had to return home after suffering from as serious ailment that forced him to return home for recuperation.

Being the head of his household and breadwinner he had to generate income so that he could provide for his family. The only business he was confident about starting was a vegetable garden. He used the little savings he had to buy irrigation pipes and seedlings.

Product & Market

“I started by growing cabbages and tomatoes which I had intended to sell to the community. Seeing that my produce was of good quality, a community school teacher advised that I apply for a permit to sell the vegetables as a wholesaler at the Manzini Main Market.

Selling in Manzini sped up the sale of my vegetables. I realised greater and faster sales from there than I would have if I had continued selling to the community. Some marketers and vendors buy direct from my garden, and other customers want me to deliver to them. I sometimes park my truck in strategic places, especially when the yield is high.”

“Seeing that tomatoes and cabbages are high demand products, I decided in specializing in them and maize which I plant in the ploughing season and sell as dry maize. The dry maize is mostly bought by Maize Millers who then sell in the low-veld where there is usually a shortage of maize.” Mr. Manana states.

Increase in demand saw the need to increase production. This meant increasing the size of the fields used for commercial production, as well as upgrading the irrigation system. Fields were not a problem since he has ample land on Swazi Nation Land which had not been utilised. Upgrading the irrigation system on the other hand had was done using the proceeds from the ongoing sales.

Business Development

As the business grew, Mr. Manana saw the need to purchase a vehicle. He hired transport at first and this proved to be costly compared to owning one foe himself. He tried to juggle expanding the business with saving for a van. After months of savings he was able to buy his first car which was a second hand Isuzu bakkie.

This vehicle saw the business saving excessively in addition to operating flexibly, considering that he was able to supply his clients when stock was available without being limited by the availability of transport.

As years went by and Mr. Manana’s vegetable production expanded to other fields besides his own, the investment on the project increased. A huge investment was made on irrigation systems that are in an insecure area and are at high risk of being vandalised if not stolen. Not aware of the need to insure, he experienced the challenge of having the irrigation pipes in several areas vandalised on two separate occasions.

“This was a huge financial setback as I had to use most of my savings to repair the damages. Shortly after repairing the irrigation system, it was vandalised again. This was a mind stopper, and I almost went crazy. My savings were almost exhausted by the previous repairs yet the vegetables had to be irrigated which was impossible without the irrigation system, I had to pay salaries and other operating expenses that I had incurred.

I was in urgent need of money, and no one to turn to after my bankers requested for a deposit against a loan they could give me. In the midst of my frustration, someone advised me to approach FINCORP. I reluctantly went there expecting steep loan requirements that would be impossible to meet. To my surprise, getting a loan was easier than I had imagined. My problems were sorted and it is now running with minimal challenges which include crop diseases and these are manageable.”

Financial Independence

As the business grew; its profitability was highly visible. Mr. Manana was not only able to provide for his household needs and the development of his homestead; he was able to acquire assets that include tractors and a mini truck. “I had never imagined that I would own a vehicle whilst I was still employed, as I speak I have owned several and they were all acquired through the business,” he adds.

A senior citizen in his community, Mr. Manana has earned the respect of his community for being a hardworking businessman. As he ages he believes he will at a point in time slow down. “I got my loan from FINCORP when I was over 60 years of age and they did not discriminate me because of my age. My next plan is to get a brand new tractor which I will use on my fields as well as to plough for people.”
“As a businessman I have thrived against all odds and ensured that the hands that possess my wealth bring it closer to me. “ he concludes.