{"id":37603,"date":"2023-11-09T07:23:13","date_gmt":"2023-11-09T07:23:13","guid":{"rendered":"https:\/\/www.africa-press.net\/eswatini\/?p=37603"},"modified":"2023-11-09T06:43:46","modified_gmt":"2023-11-09T06:43:46","slug":"34-former-mps-establish-new-investment-company","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/eswatini\/all-news\/34-former-mps-establish-new-investment-company","title":{"rendered":"34 FORMER MPS ESTABLISH NEW INVESTMENT COMPANY"},"content":{"rendered":"

Africa-Press – Eswatini. <\/strong><\/span>Erstwhile Members of Parliament (MPs) of the 11th Parliament have established and registered an investment and business company that is aimed at creating wealth for emaSwati.<\/b><\/p>\n

According to sources close to the matter, the newly-established company of the former legislators boasts about 34 fully subscribed members. The Board of Directors consists of about seven members. Board Chairman of the company, known as Tintfungo Consortium, is former Ndzingeni MP Lutfo Dlamini and Business Development Director is former Madlangempisi MP Sibusiso \u2018Scorpion\u2019 Nxumalo. When reached for comment, Nxumalo politely referred all questions to the chairman. Dlamini, on the other hand, confirmed the establishment and registration of the erstwhile legislators\u2019 company. He said they would soon officially launch it, hence they did not wish to disclose much at this stage as the Board was still finalising a few logistics.<\/p>\n

\u201cThe former MPs of the 11th Parliament have established and registered an investment and business company that is aimed at reversing our misfortunes and be involved in wealth creation,\u201d said the chairman. He added that the company had been incorporated as a consortium with the registrar of companies. Dlamini, when asked to give more details about the company, declined, stating that the consortium would be launched to the public where all details would be made available.<\/p>\n

Strategy<\/b><\/p>\n

\u201cWe confirm the business consortium but will share more details when we officially launch the company and its business strategy,\u201d he said. The chairman clarified that the Consortium was strictly business and had nothing to do with politics. Further, sources confided to this publication that the company\u2019s vision was to solve many problems which the legislators observed while serving in office as MPs. A source said the former legislators observed that Africans were hungry, meaning they needed food sustenance and, therefore, the company would be dealing in agriculture. The source further asserted that the company would be dealing with energy as they sought to generate electricity, among other things.<\/p>\n

According to a recent statement from Business Eswatini (BE), His Majesty King Mswati III had thrown down the gauntlet and issued a clarion call to all enterprising emaSwati to establish multibillion businesses in the country. \u201cBE feels that this is a royal call, which is not inconsistent with the economic times in which we find ourselves in as a country; these are times which demand that we all think big and take big calculated risks in order to turn around our lethargic economic situation. To that BE says, yes. \u201cHis Majesty\u2019s vision for the country is undoubtedly big and as emaSwati, and BE in particular, we need to match it by being innovative and creative in building our businesses from small to big enterprises that hire many emaSwati,\u201d reads the statement in part.<\/p>\n

It states further that as everyone will agree, all multibillion businesses in existence around the world were actually conceived, nurtured and grown by the private sector, which is the engine for economic growth everywhere. It highlights that it is with this irrefutable fact in mind that BE feels His Majesty may have been speaking specifically to the private sector of this country to dare to dream and think big; and to have the courage to expand their vision beyond the boundaries of their own security and comfort zones. \u201cWe feel he was telling all of us, especially BE, that the time to up our ante has come. \u201cCrucially though, we feel His Majesty\u2019s call is timely, especially as prospects for foreign direct investment projects around the world are beginning to dwindle to the extent that all countries are now challenged to grow and expand already existing in-country businesses, if they are truly serious about creating jobs and national wealth,\u201d it reads further.<\/p>\n

BE stated that the other challenge with relying exclusively on foreign direct investment was that the competition for it was now too ferocious, while the demands from investors to relocate to one\u2019s destination were increasingly becoming untenable, if not too prohibitive in terms of costs. It states that there is, therefore, wisdom in building and expanding their existing businesses in the country but first they learn to look after them so that they can retain them. Investors who are frustrated tend to yield to the temptation to relocate to other countries that are friendlier to their investment projects. As a country, it states that they still have a long way to go in this regard, especially at policy level.<\/p>\n

For More News And Analysis About Eswatini<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Eswatini. Erstwhile Members of Parliament (MPs) of the 11th Parliament have established and registered an investment and business company that is aimed at creating wealth for emaSwati. According to sources close to the matter, the newly-established company of the former legislators boasts about 34 fully subscribed members. The Board of Directors consists of […]<\/p>\n","protected":false},"author":84,"featured_media":37602,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,12],"tags":[234,248,249],"class_list":["post-37603","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-policy","tag-africa-press","tag-africa-press-eswatini","tag-eswatini"],"yoast_head":"\n34 FORMER MPS ESTABLISH NEW INVESTMENT COMPANY - Eswatini<\/title>\n<meta name=\"description\" content=\"Erstwhile Members of Parliament (MPs) of the 11th Parliament have established and registered an investment and busine ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/eswatini\/all-news\/34-former-mps-establish-new-investment-company\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"34 FORMER MPS ESTABLISH NEW INVESTMENT COMPANY\" \/>\n<meta property=\"og:description\" content=\"Erstwhile Members of Parliament (MPs) of the 11th Parliament have established and registered an investment and busine ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/eswatini\/all-news\/34-former-mps-establish-new-investment-company\" \/>\n<meta property=\"og:site_name\" content=\"Eswatini\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2023-11-09T07:23:13+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/eswatini\/sites\/33\/2023\/11\/sm_1699499421.207452.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1280\" \/>\n\t<meta property=\"og:image:height\" content=\"720\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/eswatini\/all-news\/34-former-mps-establish-new-investment-company#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/eswatini\/all-news\/34-former-mps-establish-new-investment-company\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/eswatini\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"34 FORMER MPS ESTABLISH NEW INVESTMENT COMPANY\",\"datePublished\":\"2023-11-09T07:23:13+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/eswatini\/all-news\/34-former-mps-establish-new-investment-company\"},\"wordCount\":757,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/eswatini\/all-news\/34-former-mps-establish-new-investment-company#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/eswatini\/sites\/33\/2023\/11\/sm_1699499421.207452.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Eswatini\",\"Eswatini\"],\"articleSection\":[\"all news\",\"policy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/eswatini\/all-news\/34-former-mps-establish-new-investment-company#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/eswatini\/all-news\/34-former-mps-establish-new-investment-company\",\"url\":\"https:\/\/www.africa-press.net\/eswatini\/all-news\/34-former-mps-establish-new-investment-company\",\"name\":\"34 FORMER MPS ESTABLISH NEW INVESTMENT COMPANY - 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