V-BEST GUTTED, OWNERS LOSE ABOUT E20M

MBABANE – V-Best, one of the capital city’s largest wholesaler was burnt to the ground by protesters on Tuesday, causing the company to lose E11 million in stock losses.

The company is owned by Chinese Investor Feng He, who has also suffered immensely as all his other businesses throughout the country were vandalised and, most, burnt down. His Hluti business trading as Sondelani Supermarket was looted and further burnt down by protesters, resulting in the business loosing E6 million worth of stock. On a similar wavelength his Hlatikhulu business also trading as Sondelani was looted and burnt to ashes resulting in what he estimated to be millions worth of losses.
However, the losses had not  been fully  quantified by yesterday. Meanwhile, protesters in Nhlangano also looted his warehouse and stole stock worth E2.5 million. Altogether, the directors of V-Best have lost an estimated cost  of E20 million.
He said, altogether, his businesses that had been torched by protesters had employed  77 emaSwati on full-time basis.

envisage

The Managing Director said he was devastated at the losses because he did not envisage such a thing could ever occur in Eswatini. “I have always known Eswatini to be a peaceful country and I am happy to do business here. This has really taken us by surprise,” he said. Feng He said the onus was now on the Eswatini Government to ensure that such an occurrence is averted in future. “Investors will be afraid to rebuild their businesses if there is no assurance from government that what has happened would not be repeated. Otherwise it will be difficult for businesses to be revived,” he said. Responding to questions on reviving his businesses, he said he would also discuss with his landlords. The businessman said he would discuss with his landlord about repairs to the damages and also talk to business partners.

This was not the only business that was on the receiving end of violence at the Sidwashini Industrial Site as the Top Ten Supermarket also incurred losses exceeding E14 million when protesters burnt it down. Woodmasters, one of the Capital City’s oldest businesses was also vandalised as furniture was stolen and window panes broken. Staff found at the premises said they had taken it upon themselves to spend nights at the premises and protect it from the vandals. “When these people did this on Tuesday, we thought it was the last. We were surprised that on Wednesday, they came back. Luckily, they found us guarding the premises. We warded them off. We also called the police who arrived promptly to assist us,” said an employee. Responding to questions on what they armed themselves with, the staffer said “liswati uyalati. Nome ngabe yini lingaysebentisa,” meaning a liSwati uses anything to protect himself.

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