Eswatini Development Finance Corporation (FINCORP) was launched by His Majesty King Mswati III in November 1995 with the main objective of economically developing the people of Eswatini through the provision of accessible financial services. FINCORP is a registered private company with two shareholders, namely, the Government of Eswatini which owns 80% of the business, and Tibiyo Taka Ngwane, a sovereign wealth fund, that owns the remaining 20%.
We continue to fulfill our original development finance mandate of helping Eswatini citizens to start new businesses and grow existing businesses by offering them affordable finance, thus creating jobs, growing the economy, and alleviating poverty. FINCORP has, to date, provided access to loans and other financial services to thousands of Small and Medium Enterprises and individuals across all industries which make a meaningful contribution to economic growth.
Entrepreneurs both on Eswatini Nation Land (ENL) and Title Deed Land (TDL) continue to receive financial assistance to start up new businesses and expand existing ones. A significant proportion of FINCORP’s loan book represents agribusiness activities mostly situated in rural areas. Statistics have shown that the agricultural sector offers enormous job opportunities to the general population throughout the country. Other major sectors include trucking & haulage, forestry, and general business covering trade, retail, manufacturing, construction and services.
FINCORP in recent years diversified its product offering by setting up two subsidiary companies, namely, FIRST FINANCE offering
General Purpose Finance, which has grown to become the second leading microlender in the country, and FINSURE INSURANCE, which is now a fully-fledged insurance company able to offer FINCORP's clients a full range of insurance products directly.
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Industry
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Financial Services
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Company size
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51-200 employees
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Headquarters
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Eswatini
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Type
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Public Company
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Founded
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1995
