MA PROPERTIES’ E20M COMPLEX AT CHECKERS

MBABANE – MA Properties, through financial assistance from SwaziBank, has successfully constructed a shopping complex valued at approximately E20 million.

During a tour by the development bank’s Board of Directors and executive management, MA Director Muzi Dlamini unveiled that their anchor tenant would be OK Foods franchise.

This will be the sixth OK Foods supermarket in the Kingdom of Eswatini, and the first outside the Manzini region, under the directorship of experienced retailer, Lincoln Motsa. 

 
Dlamini said LINAC Group, which also operates the reigning KwaZulu- Natal (KZN) OK Foods Store of the Year in Ngwane Park, would occupy about 1 500 square metres at their supermarket.

An OK Liquor Store will also be operated by the LINAC Group within the same premises. On another note, Dlamini disclosed that Swazi Mobile would also open shop at the complex, while negotiations continue with the fourth company which will be tenants at the shopping centre.

Gratitude

The complex, which was constructed by the Mbhilibhi Group, who provided a turnkey project at final stages of completion, is located next to Leites Toyota, Mbabane, along the Checkers Road.

Dlamini expressed gratitude to SwaziBank for financing the development. He pointed out that this was evident that the bank continued to live up to its mandate of assuring that EmaSwati were developed into being employers and differentiators, especially within the local and Southern African community.

“We are grateful that the bank found the project viable to finance. As a company, we are confident that this development will contribute significantly towards improving the economy of the country through empowering EmaSwati,” said the seasoned consultant, whose group of companies includes MA Consulting Engineers, MA Properties and MA Ranches (cattle farming project).

SwaziBank Board Chairperson Sibongile Mdluli said the bank was pleased with the efficiency of MA Properties, who managed to complete the shopping complex in only eight months. She emphasised that the bank was more than willing to finance both small and big projects aimed at improving the economy for the better.

“As a bank, we always have the interest of EmaSwati and the country at heart. We are confident that through the financing of more development projects, we will help propel the country towards attainment of the vision to become a First World country by 2022,” said Dlamini.
SwaziBank Managing Director Zakhele Lukhele disclosed that they had financed Small and Medium Enterprises to a tune of E48 million in the past two financial years.

“Our intention is to develop more Emaswati to have the capacity to undertake more projects of this magnitude,” said Lukhele.
MA Group Property Division Director Lungile Dlamini thanked the board and executive management for witnessing what had been done with the financing of the bank.

Appreciate

“We really appreciate the support which has been given by SwaziBank,” she emphasised.
Reliable information communicated to the Business Desk was to the effect that the property sits on 1 700 square metres of land.  The structure will comprise 97 parking bays, a traffic circle and public toilets, among other amenities.

It was mentioned that the structure was expected to have been completed and ready for operations by June 1, 2018.
In terms of job creation, the construction project created around 500 jobs, both temporary and permanent.

Explaining what had prompted the development to be undertaken; the source explained that they intended to provide convenience to customers, especially those who may not want to be caught in traffic jams within the city centre during peak hours.

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