We are suffering after arson attacks – investors
DESPERATE: When we run short of living expenses, we went to live with friends. We are suffering, but we are waiting for EswatiniBank to process our application,” said a businessman.
MBABANE – Some investors whose businesses were torched during the spate of arson attacks in June and July this year have still not benefitted from the Reconstruction Fund.
While waiting for their turn, they have said that they are suffering in silence.
Feng He, who is owner of V-Best, one of the country’s largest wholesalers, said he and his family were suffering while waiting for EswatiniBank to process their claim from the Reconstruction Fund. V-Best is at the Sidwashini Industrial Sites, where it was renting premises from Woodmasters.
“When we run short of living expenses, we live with friends. We are suffering, but we are waiting for EswatiniBank to process our application,” he said.
He said what was puzzling to him was that he had been told that priority was being given to the reconstruction of the premises and not the merchandise belonging to the tenants.
“I visited V-Best last week and found that there was still no construction. I will continue to wait,” he said.
Feng He said he had applied for compensation of E11 million from the fund for V-Best alone.
Asked why he was not renting other premises, he said he had no money, but would wait for the fund.
While V-Best was being burnt to ashes by a group of over 200 people in July 28, Feng He’s other businesses in Hluthi and Hlatikhulu suffered a similar plight.
His Hluthi business trading as Sondelani Supermarket was looted and further burnt down by protesters, resulting in the business loosing E6 million worth of stock.
On a similar wavelength, his Hlatikhulu business also trading as Sondelani was looted and burnt to ashes resulting in millions of worth of losses. Meanwhile, protesters in Nhlangano also looted his warehouse and stole stock worth E2.5 million. Altogether, the directors of V-Best have lost in excess of E20 million.
Employing
He said, altogether his business that had been burnt were employing 77 emaSwati on full-time basis.
The managing director said he was devastated at the losses because he did not envisage such a thing could ever occur in Eswatini. “I have always known Eswatini to be a peaceful country and I am happy to do business here. This has really taken us by surprise,” he said.
Leader of the Bangladeshi society in Eswatini Sohail Hayder said many businesspeople from his country who were affected by the unrest were trying to come back to trading in order to survive.
He said none that he knew had received any funding from the Reconstruction Fund.
“People are mostly helping each
“I have always known Eswatini to be a peaceful country and I am happy to do business here. This has really taken us by surprise.”
other to be on their feet, but it is still very tough,” he said. Asked if they applied to get the fund he responded: “Yes, a lot of them, but so far no one got cash.”
Local businessman Lincoln Motsa of OK Foods said he had applied just recently for the Reconstruction Fund, so he was not yet impatient.
“I applied three days ago, and will only be able to tell if there are delays after a few weeks from now,” he said. However, some of his businesses have already been reconstructed, especially at Kwaluseni.
Others are still work in progress. He said he was using his own money to do the reconstruction, and was hopeful that he would be refunded through the fund.
Top Ten Cash and Carry also recorded E14 million worth of goods and property that were destroyed at Sidwashini Industrial Site.
AttAck
The attack was, however, not only directed at businesses owned by foreigners as several other businesses owned by emaSwati were also on the receiving end of the vandalism.
The Reconstruction Fund was established by His Majesty King Mswati III at Esibayeni in July this year. He said the State’s contribution would be E500 million. At the time, it had been said that the total cost of damages was worth E3 billion. There was subsequently and launching ceremony for the fund, where it was said that EswatiniBank would keep the funds. The rules of the fund were approved by Parliament, which also gave allowance to those businesses that used their own monies for reconstruction to be liable for refunds.
The fund will act as a grant to businesses who were affected by the political unrest.
Questions were asked from EswatiniBank this week, but the bank had not responded at the time of going to press.