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NIDCS TO MULL INVESTING INTO SWAZI MOBILE

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MBABANE – In a quest to establish an equity portfolio, NIDCS intends to invest with Swazi Mobile.


NIDCS stands for National Industrial Development Corporation of Swaziland. 
In the Ministry of Commerce, Industry and Trade first quarter report for the 2017/18 financial year presented by the Minister Jabulani Mabuza, it has been mentioned that:

“In a quest to establish an equity portfolio for the corporation, we are exploring the possibility of investing in Swazi Mobile, the newly established telecommunications company which has presented an opportunity for equity investment.” 


It has not been mentioned how much the entity has reserved for investment with the mobile telephony company.       
Most recently, Swazis who may be interested in investing in Swazi Mobile, through buying a portion of the 33 million shares reserved strictly for individuals, were advised to visit their coffers in readiness to purchase shares.


Swazi Mobile Chief Strategy Officer Jeff Penberton had mentioned that the new mobile operator was optimistic that approval to be listed with the Swaziland Stock Exchange (SSX) would be issued.


Penberton said legally, they were obliged to avail 30 per cent shares but as a company that seeks to serve the Swazi nation they had decided to avail 33 per cent shares to individuals.


“Before shares can be availed to individuals as per our promise when the company was launched, we first have to complete all the necessary processes which include engaging the Financial Services Regulatory Authority (FSRA) and the Swaziland Stock Exchange.

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