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SIDC TO INVEST IN SWAZI MOBILE EQUITY SHARES

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MBABANE – The Swaziland Industrial Development Corporation (SIDC) intends to invest in Swazi Mobile.


This was disclosed by Chief Executive Officer (CEO) Phiwayinkhosi Ginindza. He mentioned a series of meetings had already been convened where discussions to buy a stake of equity shares had been intensely discussed with the mobile telephony management.
Ginindza said as an organisation they felt technology was one area that they believed could greatly improve the economy of the kingdom. He said they had vested interests on the improvement of innovation as an industrial development company.


“We believe communication is key to economic development. Therefore, investment into telecommunications could be our contribution to the economy,” Ginindza explained during an interview at the Royal Swazi Hotel shortly after the presentation of the Swaziland Sugar Association SSA 2016/17 annual results.


– It should be mentioned that plans are also underway for the Swaziland National Provident Fund (SNPF) to invest into Swazi Mobile shares.
SNPF Chief Executive Officer (CEO) Prince Lonkhokhela recently disclosed that talks were at an advanced stage within the organisation’s managerial structures to invest in the new mobile telephony company. 

The prince said the organisation strongly believes investing in technology in line with the country’s vision to become a first world country by 2022. He pointed out that development of the telecommunications sector was essential for a country on a growth path and one that seeks to improve the livelihood of the citizenry.  “We are considering investing in Swazi Mobile but finer details will be published in due course,” said the prince during an interview conducted at the Swazi Mobile launch.


The CEO also mentioned that SNPF has always had interests in mobile telecommunications to the extent that they mulled making application for a mobile telecommunications licence in the past.  Chief Strategy Officer Jeff Penberton announced that in addition to the 5 000 000 shares (5 per cent equity valued at E60m) giveaway to the first 100 000 subscribers of Swazi Mobile announced on Tuesday, the public has appointed companies to facilitate the process of acquiring shares.


     

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