TIBIYO PLANS HUGE PROJECT IN EZULWINI

mfanukhona@times.co.sz

EZULWINI –A major development is on the cards.
Tibiyo TakaNgwane will undertake an unspecified project on the land it bought from proprietors of the Greyhound building.
The land on which the Greyhound building stands measures eight hectares.
Tibiyo TakaNgwane is a royal investment company held by the King in trust for emaSwati.

The structure is a stone’s throw from where the royal entity sold its 18-hectare land to government to build the International Convention Centre and Five Star Hotel.
Absalom Themba Dlamini, the Managing Director of Tibiyo TakaNgwane, said Tibiyo TakaNgwane bought the Greyhound building a couple of years ago.
Dlamini could not immediately recall how much the property cost the investment company.

He said they had not taken a decision on whether to build an office block or shopping complex but the development of the land was being considered.
The former prime minister conceded that Ezulwini was coming alive with its beautiful buildings. He said it was appropriate, therefore, for Tibiyo to set-up a beautiful structure as well, to meet the standards set by other organisations.
“I don’t have records on my head as to how much we spent on the building,” he said.

NO speculations

Asked if the price for the building exceeded E10 million, the managing director was quick to interject: “I don’t want to make speculations.”
He said Inyatsi Construction, churches and other people using the Greyhound building paid dues to Tibiyo TakaNgwane.
Tibiyo has invested in the following sectors of the economy: agriculture, commercial, finance, services, property, mining, manufacturing and processing as well as tourism.
It also has shares with Swazi Spa Holdings Limited, in Ezulwini.

The company, listed on the Eswatini Stock Exchange, is jointly owned by All Saints (Pty) Ltd, Tibiyo Takangwane and minority shareholders that include the government of Eswatini.
Swazi Spa Holdings Limited was incorporated in December 1962 and listed on Eswatini Stock Exchange on February 22, 1991.
The group owns and operates Sun International Hotel and casino resorts in the country. These comprise of the Royal Swazi Sun Hotel and Casino, Lugogo Sun and closed Ezulwini Sun.
Briefly commenting on the closed Ezulwini Sun, the managing director of the hotels’ shareholder said there was some development to take place there but would not divulge information because he was not authorised to speak on behalf of Swazi Spa Holdings.

Lance Rossouw, the Area General Manager at Sun International, said they were looking at a feasibility to develop some of the land.
Rossouw said there were many consultations to take place before anything could be done – if ever.

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