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WHAT IS HAPPENING WITH THE ESASSCO BULDING?

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Madam,
What a mockery to Vision 2022!
Can someone tell us what is happening with the eyesore Eswatini Association of Savings and Credit Cooperatives (ESASCCO) building just above the beautiful New Mall in Mbabane. Rumour has it that in addition to the unfinished building being an eyesore, it has turned to a dagga smoking and sex den for pupils from schools around Mbabane.

Rumour also has it that a handful of pupils, including girls from one of the top schools in the capital city were recently nabbed by police smoking weed during school hours in the comfort or discomfort of the building. It is alleged that one of the girls who was spooked by the possibility of going to jail for dagga possession admitted to lesser misdemeanor of honouring sexual advances from one of the boys and the ugly building was suitable for the rendezvous.

Financed

When the construction of the building started, it was financed by the Development Bank of South Africa (DBSA). It was reported that members of SASCCO were supposed to fork out around E25 million for the construction while DBSA was going to pay the balance for the completion of the building. Apparently this original arrangement failed. Some years ago it was reported that Tibiyo, which has just declared a E288  million profit   had shown interest in buying the unfinished building which, according to evaluators would cost around E40 million to E50 million at the time and a committee was apparently set up to look into the acquisition of the building.

Converted

At one point it was also reported that the building was to be converted into a hotel. Can someone enlighten us what is the position now? As a resident of Mbabane, a ratepayer and taxpayer I wonder why we have to endure this ugly sight when entities like Tibiyo are more than capable of converting the building into a world class structure. Isn’t there a section in the municipal regulations that stipulates limits on timeframes for construction of buildings in town.

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