FuelEx Eswatini, a R100-million ($6-million) petroleum distribution company has been launched by Eswatini’s Minister of Commerce, Industry and Trade, H.E. Manqoba Khumalo. This new investment will be facilitated by the Eswatini Investment Promotion Authority and will directly create 300 job opportunities for locals and 500 indirect job opportunities.
“The energy industry is a key sector in the Economic Recovery Plan due to the high impact opportunities it presents for economic stimulation. It, therefore, becomes apparent how the entry of FuelEx will offer us a direct benefit in terms of economic recovery,” said Minister Khumalo, at the launch. “Tackling unemployment forms a critical part of reigniting our economy. FuelEx will offer Eswatini a significant number of jobs, bringing employment and financial relief to many families who have required an income to survive over the past months.”
According to the Minister, FuelEx will stimulate entrepreneurship and expand opportunities for job creation. FuelEx will also allow Eswatini to become more competitive, and assist in overcoming the challenges of cross-border fuel supply in a land-locked country.
“We have been in Africa for the past 10 years and we aim to empower small businesses within Eswatini and along the vicinity of our depot. We can promise Eswatini that we are here to stay,” added Christopher Jooste, CEO of FuelEx.