The South African Minister of Commerce, Industry and Trade Eswatini, Manqoba Khumalo has launched an R100 million petroleum and fuel distributor company, FuelEx Eswatini. The company is an investment that was facilitated by Eswatini Investment Promotion Authority.

The company is to provide direct employment for over 300 citizens and 500 indirect employment. The South African franchise of the company was founded in 2011 as a market-leading, independent petrochemical wholesale and supply chain finance provider.

Speaking during the launch, the Chief Executive Officer of FuelEx, Christopher Jooste said, “We have been in Africa for the past 10 years & 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.”

Excerpts from the Minister’s remarks during the launch:

“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.”

“Tackling unemployment forms a critical part of reigniting our economy. FuelEx will offer Emaswati a significant number of jobs, bringing employment & financial relief to many families who have required an income to survive over the past months.”

“It is also hoped that the entry of FuelEx into our domestic market will stimulate entrepreneurship which will, in turn, offer us undeniable benefits in the long-run. FuelEx will act as an enabler to those who either run or plan to run businesses in the fuel sector, expanding opportunities for job creation as new SMEs are formed.”

“The presence of FuelEx in the industry will assist in overcoming the challenges of cross-border fuel supply in a land-locked country. This puts us in good stead to become more competitive in the region as more elements of the value-chain are driven from within our borders.”