Tibiyo Taka Ngwane

Tibiyo Taka Ngwane
Company typeInvestment company
IndustryInvestment management
Founded1968
FounderKing Sobhuza II, the people of Swaziland
Headquarters
Kwaluseni
,
Eswatini
Key people
Themba Dlamini, Mswati III
ProductsPublishing
Beverages
Property Development
Hospitality
Agriculture
Mining
Finance
RevenueIncrease E218.1m (2012)[1]
Increase E116m (2012)[2]
Total assetsIncrease E1.39 billion (2012)[3]
OwnerKing Mswati III in trust for the people of Eswatini
Websitehttps://www.tibiyo.com

Tibiyo Taka Ngwane, meaning wealth of the nation,[4] is a Swazi sovereign wealth fund which was created through royal charter under the reign of King Sobhuza II in 1968. The company is currently held by King Mswati III in trust for the Swazi nation and is separate from the government.[5]

It was formed by King Sobhuza II at independence in 1968 by Royal Charter to promote and encourage peace and stability, to preserve culture and tradition and to promote a high standard of living for the Swazi Nation through provision of employment.[6] It has stakes in agriculture, property, a printing company, and it is the sole owner of the Eswatini Observer.[7] Tibiyo is a shareholder in many companies such as the Royal Eswatini Sugar Corporation (RES Corporation), Maloma Colliery Limited, Lubombo Sugar, Parmalat Swaziland, Simunye Plaza, Bhuna Mall, Swazi Spar Holdings, Eswatini Beverages, Alexander Forbes, Fincorp, Tibiyo Leisure Resorts trading as Royal Villas and many subsidiaries across the country.[8]

In 2009 a group of Swazi organisations called for Tibiyo Taka Ngwane to be converted to a government department that would be open for public scrutiny.[8]

  1. ^ "Tibiyo Taka Ngwane 2012 Annual Report" (PDF).
  2. ^ "Tibiyo Taka Ngwane 2012 Annual Report" (PDF).
  3. ^ "Tibiyo Taka Ngwane 2012 Annual Report" (PDF).
  4. ^ "Swaziland: A tale of two countries". Integrated Regional Information Networks. 28 October 2008. Retrieved 21 October 2009.
  5. ^ United States Department of State
  6. ^ Ndlangamandla, Musa (8 August 2009). "Tibiyo shines in Cebu business indaba". The Swazi Observer. The Swazi Observer Newspaper Group.
  7. ^ "Existing Investments". Tibiyo Taka Ngwane. Retrieved 12 October 2009.
  8. ^ a b Nkambule, Mfanukhona (25 January 2009). "Civil Society wants Tibiyo open for public scrutiny". Times of Swaziland. Retrieved 12 October 2009.