NURSES BUY PROPERTY FOR E12M

MBABANE – The cat is out of the bag!

The Times SUNDAY can reveal that the Swaziland Nurses Association (SNA), popularly known as the Swaziland Democratic Nurses Union (SWADNU), bought property in Mbabane for E12 million. The association, which has a membership of about 2 000 nurses, bought the prestigious Mbabane Golf Course Corner from MA Dlamini Properties a year ago. The purchase of the spacious offices had been kept confidential.  Bheki Mamba, the President of SWADNU, confirmed the purchase of the property, which he described as their biggest achievement so far. “We celebrate a one year big purchase anniversary,” he said.

Association

Mamba said SWADNU is a small association in the country that needed to explore avenues for generating income to sustain its operation. He said the association needed money for, among other things, payment of legal fees for members seeking court redress.  Asked if the nurses bought the property in cash, the president disclosed that they obtained a mortgage loan from EswatiniBank. He thanked the government owned bank for being flexible, receptive and understanding of their plight and ambition to enter into the property market.
He said SWADNU or SNA was inspired by the Swaziland National Association of Teachers (SNAT), which has commercial buildings and South Africa’s National Union of Metalworkers (NUMSA) whose assets have reached E5 billion. He said police officers in South Africa own a successful insurance company. He said many organisations and unions had either acquired property or established businesses that generate income.

Mamba pointed out that the Mbabane Golf Course Corner building has been transferred to the association’s name. He said the repayment period for the loan was eight years. The president is hopeful the nurses will service the mortgage loan so that they can begin to make profits and take decisions on where to invest them. “Our ultimate goal is to ensure that the profits to be generated by the property, after we have fully paid for it, benefit the members,” said Mamba.

Post your comment

Your name:

Your e-mail address:

Add your comments:

Please enter the code you see in the image:

Image:

Code: