LOJAF WANTS TO BUY NHLANGANO SPAR

MBABANE – Nhlangano Spar could soon be acquired by Lojaf. Lojaf is managed by African Alliance Swaziland Limited – an investment holding company listed on the Swaziland Stock Exchange (SSX).

According to a notice of sale issued yesterday, it has been disclosed in terms of section five, subsection one of the Registration of Businesses Act number 42 of 1933 (as amended), that Siyaspa (Pty) Ltd trading as Nhlangano Spar Supermarket, intends to sell and transfer as a going concern, subject to the fulfillment of certain conditions.

Intentions

When African Alliance was asked to confirm whether it was indeed true that there were intentions to acquire the business, Chief Executive Officer (CEO) Nelsiwe Mabuza, clarified that African Alliance was not the interested party. She mentioned that it was Lojaf instead.

“Also note that any such prospective partnership is still only in principle at this stage and nothing has been confirmed (finalised) as yet. Best put, negotiations are still ongoing,” said Mabuza.

When quizzed as to what were the conditions precedent which would have to be fulfilled before the intended sale and transfer of Nhlangano Spar was finalised, Mabuza said these would be standard regulatory conditions.  

Mabuza was also asked to state the value of the transaction or the current value of the business which Lojaf is in the process of acquiring, to which she responded: “The value (current or otherwise) once ascertained would always remain private between the prospective parties.”

Explaining why Lojaf views the acquisition of Nhlangano Spar as a viable investment, Mabuza said the institution was already operating in the retail sector.

Operation

She pointed out that the drive was to grow their footprint in areas that make business sense in terms of reach, to a healthy customer base, provision of quality service and product to ensure that they grow their business operation as a whole.
“This strategy ultimately informs the return on investment that our local shareholders, who include Eswatini pension funds, other local businesses and persons, get to realise,” said Mabuza.  

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