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King Mswati officially launched R1billion fund to assist businesses destroyed during political unrest.

Monday, 6th September, 2021

LOZITHA: King Mswati officially launched a fund with contributions amounting to about R1billion to assist businesses that were destroyed during the recent political unrest.

This is the fund that started with a capital of R500million as announced by the King on 16 July 2021 during Sibaya.

Speaking during the official launch on Monday at Lozitha Palace, Mandvulo Hall, the King said the fund was a major step towards resuscitating all the businesses that were damaged about two months ago. 

This Fund may not fully cover the losses incurred by affected business but we strongly believe that it will go a long way in rehabilitating the damaged structures which are very critical for the resuscitation of business,” he said.

 Worth-noting is that Taiwan pledged a R330million contribution to the fund, this was announced by Ambassador Jeremy Liang.  Companies that contributed include MVA, Montigny Investments, Eswatini Bank, PSPF, ESRIC, EPTC, Montigny, Dalcrue, Standard Bank, Happy Valley Casino and Status Capital Building Society.

Other companies include Stanlib, Sugar Industry, Balondolozi Asset Managers, Tibiyo TakaNgwane, Letshego Financial Services, MTN Eswatini, Eswatini Building Society, EEC, Fincorp, MVA, Inhlonhla Asset Managers and Water Services Cooperation.

 King Mswati officially launched R1billion fund to assist businesses destroyed during political unrest.
King Mswati and Taiwan Ambassador(pic: Gov)