*THOUSANDS TO BE AFFECTED AS GREEDY KING FRUSTRATES SALE OF HOTEL SHARES* SSN- STATEMENT: June 12, 2021
In a stance which may shock even his harshest critics, King Mswati has once against showed that he is not fit to lead the country by placing his greed above the livelihoods of over 1000 Swazis. The issue concerns Swaziland’s oldest hotel group, Swazi Spa Holdings Limited, which is owned jointly by Sun International and Tibiyo Takangane, a Sovereign Wealth Fund held by the king in trust for the Swazi nation. 176 employees currently employed by the hotel group are currently stranded with no indication that they may receive any part of their salaries for the month of June. Since the government enforced lockdown the employees have been surviving on only 31% of their salaries due to the fact that all hotels were closed. However, while other hotels have begun operating due to a relaxation of the rules, all Swazi Spa hotels have remained closed with employees not informed of the reasons behind the continued closure. It was only after the employees approached their management that the reasons were revealed. Sun International signed an agreement with Tibiyo which compels the former to involve the latter in any plans to share its shares. According to the agreement Tibiyo has Right of First Refusal over Sun International’s shares. This means that Tibiyo should be the first to be offered Sun International’s shares. However, should Tibiyo not wish to purchase them, they can be sold to other interested parties. The king has manipulated this contractual agreement by simply refusing to commit Tibiyo to either take up or waiver its rights to purchase Sun International’s shares. This stand-off is caused by the king’s belief that Sun International should give the king these shares for free while the latter reasonably expects to sell them at market price. With the king refusing to commit, the hotel has been forced to remain closed even as it accumulates debts due to its non-operational bills. These circumstances will force the company to be liquidated. What makes this situation worse is the fact that neither the company nor its employees can seek legal reprieve from the country’s courts since the king is constitutionally immune from civil suits. King Mswati’s greed is truly mind boggling. The only real solution for the affected employees is to join the multitudes currently demanding that the monarchy be removed from politics. *Issued by the Swaziland Solidarity Network [SSN]* Contact: Lucky Lukhele- Spokesperson 0814585658 *Lucky Lukhele- * *Tell:011 339 3621 * *Mobile: +27814585658 or * *+2772 502 4141* *Email: lucky.lukh...@gmail.com <lucky.lukh...@gmail.com> * Skype: LuckyLukhele1 Twitter: @lukhelelucky -- -- NEW!!!! SSN FORUM IS ON FACEBOOK!!!! You received this message because you are subscribed to the Swaziland Solidarity Network Forum Google Group. Visit the group home page at http://groups.google.com/group/sa-swaziland-solidarity-eom-forum for more options, pages and files. To post to the group, send email to sa-swaziland-solidarity-eom-forum@googlegroups.com or reply to this message. To unsubscribe, send email to sa-swaziland-solidarity-eom-forum-unsubscr...@googlegroups.com --- You received this message because you are subscribed to the Google Groups "Swaziland Solidarity Network Forum" group. To unsubscribe from this group and stop receiving emails from it, send an email to sa-swaziland-solidarity-eom-forum+unsubscr...@googlegroups.com. To view this discussion on the web visit https://groups.google.com/d/msgid/sa-swaziland-solidarity-eom-forum/CANZ%2BSVJKNhvBEJdVVz257qwCpnPKtintSOQYJcqBrr0VdUdzbg%40mail.gmail.com.
