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GAMBLER LOSES E2M IN SLOT MACHINE

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EZULWINI – They say professional gamblers know when to stop. It is presumed this was the case for a heavily loaded gambler who lost E2.1 million during an excursion at a prominent gambling company.

The enthusiastic gambler is said to have not lost hope over the massive loss, but continued the following day until he won a consoling E600 000.
This was disclosed by Chief Executive Officer of the Eswatini National Provident Fund (ENPF) Prince Lonkhokhela to over 100 stakeholders of the Fund at the Happy Valley Hotel last Thursday. The name of the hotel this occurred in will not be stated.


encouraged


The Prince said this when he encouraged members of SNPF to gamble in one of the gambling companies in which the ENPF owned 20 per cent shares. This however, is not the company in which a gambler lost E2 million.


“In our casino you are welcome to also go and play the slots. Many people are winning there. We were recently informed that in a certain gambling company someone was playing there and lost E2 100 000. Then the following day he returned to play and won E600 000. Since he was a foreigner, he then said he was going away the following day. The management of that company asked him how they could pay his money, but he asked that they keep it for him, as he was a regular player and would use it next time he got a chance to visit,” the prince said.


The Marketing Manager of a gambling company, in an interview, said no one had ever lost such an amount of money in his company.
He encouraged gamblers to visit, saying several players were winning.


investment


On another note, the Eswatini National Provident Fund (ENPS) has brought back home E1.9 billion from the company’s foreign investment portfolios to reinvest into the Eswatini economy.
This is in compliance with a legislation compelling pension funds to ensure that 50 per cent of their assets are invested locally, to contribute to the country’s economy.


Prince Lonkhokhela, the Chief Executive Officer of ENPF said in an interview that the company was complying with the directive, which is why it had brought back 52 per cent of its E3.7 billion which is invested outside the country. This is calculated to about E1.9 billion.


He had been asked to shed clarity on a report he made to stakeholders of the ENPF, during the annual Stakeholders’ Forum held at the Happy Valley hotel in Ezulwini, about 12 kilometres from the capital city Mbabane.


“Yes we have complied with the law, because we have brought back 52 per cent of the assets,” he said.
Meanwhile, at the meeting the Prince told stakeholders that the company had cultivated its portfolio over the years and made several investments in the hotel, hospitality industry, pulp production, telecommunication and others.


He said the ENPF owned 100 per cent of the Happy Valley Hotel, but leased the Casino to a separate company. However, the ENPF still owned 20 per cent of the casino, which also pays rent to the ENPF.


He said the ENPF owned the Swazi Plaza at the rate of 61 percent.
“At Sidvokodvo there is a dairy farm in which we own a 25 per cent stake, and we gathered that the production is at its peak and supplies 60 per cent of the country’s demand for milk.”

 

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