SWAZI MOBILE SELLS 33% SHARES TO NATION

EZULWINI – Keeping in line with its promise that this is indeed a Swazi company, Swazi Mobile has committed to giving Swazis an opportunity to own 33.3 per cent of the company’s shares.

This was revealed yesterday at the Royal Swazi Convention Centre Gigi’s Restaurant, where the company received its licence.
This is one way the company has promised as a way of empowering locals, via a Swaziland Stock Market listing in 2017.
The share price is yet to be announced. The shares would be available within six months from date of award of the licence, according to the company.

Industry players have described this as a strategic move as it would see more buy in from the nation as was the case when Swazi MTN was introduced. 
They noted that this time around, Swazis had realised the opportunity they lost by not buying shares at MTN but were now more the wiser and would grab the opportunity.

Swazi Mobile’s nationwide voice and data network will be launched in July. 
During the presentation of the licence to Swazi Mobile by the Swaziland Communications Competition Commission (SCCOM), it was further revealed that there were two shareholders, Victor Gamedze and Michelo Shakantu, Executive Chairman of Inyatsi Construction Group Holdings who would each hold 33.3 per cent. 

Giving a brief background on how Swazi Mobile came to be, Gamedze, who is Chairman of the Swazi Mobile Board, said he and Shakantu had been working together behind the scenes for sometime, pushing for a mobile licence.
    

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