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SIGWACA HOUSE WORTH E9 MILLION

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(At Happy Valley Resort)


MBABANE – The building that houses both the Eswatini Football Association (EFA) and the Premier League of Eswatini (PLE), Sigwaca House, is worth around E9 million.


This transpired on Sunday during the EFA’s 2020 Ordinary General Assembly at the Happy Valley Resort, Ezulwini.
The figures are reflected from the association’s financial statements for the year ended December 31, 2019.


At the end of this financial year, the exact value of the building stood at E9 459 444 after an accumulated depreciation amount of E4 755 728.
The cost value of the property was E14 215 172 and the financial statements reflect that by the end of the 2018 financial year, the building was worth E9 957310 after accumulating a depreciation value of E4 257 862 during that year.


EFA Vice President Peter ‘Samora’ Simelane delivered the financial reports and Chief Executive Officer (CEO) Frederick Mngometulu presented the detailed analysis of the report.


Meanwhile, the most expensive infrastructure of the association is the Lobamba Technical Centre valued at E9 914 459, having depreciated by E3 442 104 in 2019 from a fair value of E13 356 563.
At the end of the 2018 financial year, the value of the property stood at E10 435 563 after accumulating a depreciation value of E2 920 904.


On another note, the Nhlangano Technical Centre is worth E4 628 326 as per the financial statements for the year ended December 31, 2019.
The cost value of this property stood at E5 466 584 and was worth E4 871 922 at the end of the 2018 financial year having depreciated by E594 662. The depreciation value at the end of the financial year ended on December 31, 2019 was E838 258.

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