Tibiyo Taka Ngwane

Overview

Established in 1968 by Royal Charter under King Sobhuza II, Tibiyo Taka Ngwane is a sovereign wealth fund of Eswatini, dedicated to fostering economic development and enhancing the standard of living for the Swazi nation. The fund operates independently from the government, with King Mswati III serving as trustee on behalf of the people. Its diverse portfolio spans sectors such as agriculture, property, media, manufacturing, services, tourism, mining, and finance, making it the largest employer outside the government. Tibiyo Taka Ngwane's investment strategy focuses on projects that are nationally desirable, economically viable, technically feasible, and profitable. The fund actively promotes the establishment of commercially viable projects across all sectors of the economy, aiming to complement the government's efforts in fostering economic independence and self-sufficiency. It also emphasizes the development of rural communities and the preservation of Swazi tradition and cultural heritage. In addition to its investment activities, Tibiyo Taka Ngwane is committed to social investment, offering bursaries and scholarships to support the education and training of citizens. This initiative has enabled many beneficiaries to pursue careers and businesses, contributing to the nation's development. The fund's governance is guided by principles of corporate governance, ensuring high standards of legal and ethical behavior in its operations. Tibiyo Taka Ngwane's mission is to maximize the creation of wealth to strategically contribute to the development of the nation. Through its investments, the fund aims to increase formal sector employment, enhance income for citizens, earn and save foreign exchange, and support the maintenance of Swazi tradition and cultural heritage. Its guiding principles include national desirability, economic viability, technical feasibility, profitability, and environmental sustainability. The fund's portfolio includes significant holdings in various companies, such as the Royal Eswatini Sugar Corporation, Maloma Colliery Limited, Lubombo Sugar, Parmalat Swaziland, Simunye Plaza, Bhuna Mall, Swazi Spar Holdings, Eswatini Beverages, Alexander Forbes, Fincorp, and Tibiyo Leisure Resorts trading as Royal Villas. These investments reflect Tibiyo Taka Ngwane's commitment to promoting economic growth and improving the standard of living for the Swazi nation through strategic partnerships and investments.