Promoting local capital

Major reported that those Swazi-owned enterprises which did exist were mainly confined to trading and transport businesses and to handicraft operations located on so-called Swazi Nation Land, that is, the one-third of the total land area reserved for exclusive occupation by Swazi nationals.2 Major estimated that the number of such small businesses owned by Swazis in 1968 varied from 200 to 500. Outside of the SNL, Major found the commercial and industrial sectors to be foreign owned. The Swazi economy continues to this day to be dominated by foreign capital but with the difference that since independence South African capital has displaced British capital and now occupies the primary position in every sector of the economy, except for the important sugar sector. There British capital still predominates.3 The Swazi economy can be described as a dependent, peripheral one with South Africa as the core. Swaziland is economically tied to South Africa through the Southern African Customs Union (SACU) and the Common Monetary

Business · Corporation · Customs union · Economic growth · Economics · Economy · Foreign capital · Foreign direct investment · Geography · Handicraft · International trade · Local Economic Development and Planning · Taxation and Compliance Studies · Working Capital and Financial Performance · Finance

• Exporting corporate social responsibility into Africa? The experiences of South African companies in Swaziland

  Diana Sanchez Betancourt•Journal of Contemporary African…•2016

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