ZMT INVESTMENTS’ E7M TO REFURBISH FACTORY SHELLS

MBABANE – Despite the downward trend in exports and persistent advice to cut down on expenditure, SIPA in its quest to attract Foreign Direct Investment (FDI) intends to inject nearly E7 million towards refurbishment of two factory shells.

Against the backdrop of the country’s trade surplus in September 2017, which narrowed down to E354.7 million, depicting a month-on-month decline of 17.1 per cent from the previous month Swaziland Investment Promotions Authority (SIPA) Chief Executive Officer (CEO) Phumelele Dlamini will cash out E6.9 million to refurbish roofs at Far East and Leo Garments Factory Shells.

The actual sum to be paid for the project, which could to be undertaken by ZMT Investments if no objections or applications for review were received within 10 days starting from November 8, was E6 998 056.08.

Competed

In results issued by Dlamini and published by the Swaziland Public Procurement Regulatory Agency (SPPRA), it has been stated that ZMT stands to be granted the tender where they competed against Avex Construction, Seno/K Brothers Joint Venture and Xonco Construction.

Pots Construction, Innobon Construction and Stefanutti Stocks were disqualified during the tender evaluation exercise.
“The contract award decision does not constitute a contract,” Dlamini said.

The core mandate of the SIPA includes attraction of investors who contribute to national development through establishing businesses that import and export goods, among other things.

Exports

The Central Bank of Swaziland (CBS) has recently said a decrease of 11.1 per cent was observed in exports to E2.139 billion. Sugar and sugar confectionary exports fell by 23.9 per cent to E460.5 million while wood and articles of wood and charcoal recorded a significant decrease of 18.2 per cent to E107.2 million in the month.

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