SNPF wants to own' Happy Valley Resort

MBABANE – The Swaziland National Provident Fund (SNPF) is likely to become a part-owner of the recently refurbished and hugely popular Happy Valley Resort and Casino.

The three-star hotel is in Ezulwini, opposite the Gables Shopping complex.

The SNPF, it has been established, wants to venture into the tourism industry and has identified Ezulwini as a place with the highest percentage possibility for growth. Negotiations between the SNPF and the hotel owners are already at an advanced stage, as SNPF hopes to have the matter finalised this month.

It has been established that the two parties have met on a number of occasions to discuss the matter and the talks seem positive.

Prince Lonkhokhela, SNPF Chief Executive Officer (CEO) confirmed that they had met with the owners of the hotel and during the meeting the issue of SNPF buying some of the hotel shares at the Happy Valley Resort was part of the agenda. "We are in serious talks with the hotel owners and the talks seem to be positive," he said.

"They approached us and said they needed people who would be strategic partners. Since the business looks viable, we have an interest." The CEO said they had already approached their legal team and their quantity surveyors to see if it was worth buying the shares. "There is an interest and looking at the hotel itself and the owners’ plans, it is worth considering," he said.

"Right now, we have not yet reached any conclusion but if things go accordingly and we end up buying the shares, that would be done early next year (this year)."

The prince said during their talks, the hotel owners promised to make major improvements which included adding a night club.

"They have promised to build a Mercedes Benz Showroom where clients would be able to view the latest brands from Mercedes. This will be one of the top Mercedes showrooms in Southern Africa. They have also promised to add more rooms as currently the rooms are not enough to accommodate all the guests. They are also looking at building a night club in order to keep their customers entertained," he said.

The CEO said after looking at these improvements, they believe buying the shares would be one of the ideal things to do.

"We are closely looking at this opportunity but for now nothing is official as we are still in the negotiation process," he said.

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