Times Of Swaziland: PTY (LTD) VS FC: 2 SEPARATE ENTITIES AT ‘BIRDS’

PTY (LTD) VS FC: 2 SEPARATE ENTITIES AT ‘BIRDS’
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Sanele Jele on 04/08/2024 18:41:00


MBABANE – Following extensive discussion, it is evident that Mbabane Swallows
PTY and FC represent distinct entities.
The company is established with the objective to acquire various forms of
property, both movable and immovable, within Eswatini or elsewhere.
Additionally, it is specified in the registrar of companies that the company’s
objective includes the ownership, operation and maintenance of Mbabane Swallows
Football Club, along with any other sports entities deemed suitable.
Furthermore, the company is tasked with operating takeaway shops, restaurants,
boutiques, retailers, sports shops, hardware, coffee shops and general dealers.
Club Chairman Welile Mabuza provided clarity on the matter on Thursday in a
press conference, emphasising the differences between Mbabane Swallows Football
Club, which has been in existence since 1948 and is registered with the Premier
League of Eswatini, and the Mbabane Swallows Pty/LTD, which was established as a
company with the primary aim of financing the football club.
Assistance
Mabuza expressed openness to assistance for the club, but stressed the
importance of adhering to the correct channels. In terms of the fundamental
nature and purpose, the primary disparity between a PTY company and a football
club becomes apparent.  A PTY company, being privately- owned and governed by
specific legal and regulatory frameworks, operates with profit motives and
limited liability for its shareholders.  Conversely, a football club,
particularly within the professional sports context, is primarily focused on
organising and participating in football competitions, serving as a platform for
athletes to compete, develop their skills and represent the club in various
leagues and tournaments.
Recent developments have seen Princess Lungile appointed as the chairperson of
MTN Premier League champions Swallows. While the focus has been on ensuring
proper governance and welfare for the team, questions remain regarding the
financial capabilities of Princess Lungile and the potential challenges faced by
the football club in the absence of the company’s involvement. The Mbabane
giants are set to face Mozambique’s Ferroviário da Beira at Lucas Moripe
Stadium in the CAF Champions League qualifier.