The Swaziland Development Finance Corporation (FINCORP) was launched by His Majesty King Mswati III in November 1995 with the main objective of economically developing the Swazi people through the provision of accessible financial services. FINCORP is a registered private corporation with two shareholders namely the Swaziland Government and Tibiyo TakaNgwane with a share holding of 80% and 20% respectively.
FINCORP’S objectives are:
-To finance and promote the development of Swazi-owned Enterprises;
-To support the expansion of loan financing to SMEs;
-To provide general purpose finance to SME, monitoring, technical transfers and development of other products and services for SMEs;
-To facilitate access to institutional development services and increase the long-term capacity of Swazi owned enterprises.
Currently FINCORP offers multiple financial services and lending products.
The Financial services include;
-Credit – Provision of loans to local Swazi entrepreneurs.
-Leasing facilities – facility whereby the financial institution purchases assets for its clients and leases the asset until full payment of the debt has been made resulting in the assets ownership being transferred to the client.
-Insurance – A service provided by our insurance agency, facilitating and implementing any terms and conditions requiring credit life and asset insurance for the clients loans.
The Products include;
-Start up capital
-Micro loans - Umtfombo Loans
-Asset lease finance
-Long-Term Contract finance
-Lines of credit
-Business acquisition on title deed land