New investor targets Jozini
LAVUMISA – An investor is earmarked to take over from the Royal Jozini Big Six Multi-Billion Emalangeni Project, which was stopped about two years ago.
A high powered delegation led by Chairman of the Land Management Board Prince Hlangabeza informed the Lavumisa community that the project worth approxi-mately E2.5 billion had been stopped.
The announcement was made by Minister of Commerce Industry and Trade Jabulile Mashwama during a meeting held under a tree on November 4, 2010 at Somntongo Inkhundla Centre.
Swazi News can reveal that some of the stakeholders in the Royal Jozini project met with a representative of the potential investor about three weeks ago.
The directors’ of Royal Jozini met some of the shareholders in a meeting that was held at Nisela Restaurant.
The latest development was confirmed by the Managing Director of Royal Jozini Big Six, Jim Brown and the Chairman of the Lavumisa Community Trust Wilmot Gina, in separate interviews.
Brown said: "I can confirm that an approach has been made by a potential investor."
However, he clarified that the investor was not an American as it was earlier gathered.
"I understand that his interest in our project is part of a package of potential investments that he is considering making in Swaziland. I also understand that his interest in taking over Royal Jozini has more to do with resolving the current impasse between the developers and authorities than a straightforward investment and was initiated at a very high level," Brown elaborated.
He pointed out that he had recently discussed this possibility with committee representatives of the Lavumisa Community Trust.
The Chairman of the Trust, Gina disclosed that about two meetings relating to the matter have been held.
During the first meeting, Gina said they were informed about the investment that would be brought by a foreign investor.
Although Gina did not reveal the investor’s nationality he stated he was from overseas.
Gina added that they were hoping to engage in further talks with the potential investor.
Asked about the commence-ment date of the new project, Gina stated that there was a lot that needed to be done by all relevant parties before pen is put on paper.
Interestingly, the Minister of Commerce, Industry and Trade Jabulile Mashwama said she was not aware of the latest development.
I must consult with King, says Brown
MBABANE – Jim Brown, the Managing Director of Royal Jozini Big Six disclosed that he would first require the approval of His Majesty King Mswati III before reaching an agreement with any potential investor.
Brown assured that no agreements have been reached with the potential investors.
"I wish to reiterate that no agreement with this potential investor has been reached and that any such agreement would ultimately require the approval of all stakeholders, most notably the Ngwenyama, who is the Lessor," he said.
From a personal point of view, Brown said he had constantly sought and would welcome any initiative, from any quarter, that would amicably and fairly resolve the impasse that has caused detrimental effects to the many Royal Jozini investors as well as to the related interests of the Lavumisa Community.
"I seek resolution, not confrontation," he said.
Earlier in the interview, Brown mentioned that he was made to understand that the investor’s interest was more on solving the impasse.
Part of Jozini could be turned into cattle ranch
LAVUMISA – The investment earmarked for Lavumisa is said to be meat processing.
The processed meat will be mixed with vegetables before being exported to European countries.
When asked to elaborate on the new investment, Chairman of the Lavumisa Community Trust Wilmot Gina said he only knew that it would involve a lot of cattle.
Gina said they were also informed that factories to manufacture bags, belt and shoes from the cattle skin and hides would be set up.
Gina was quick to point out that he did not have much information regarding the project.
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