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MBABANE – ESW Investment Group (ESWIG) has prepared a turn-around strategy to ensure that emaSwati who lost their investments to Ecsponent Swaziland Limited are fully compensated.

According to a response to Parliament by Finance Minister Neal Rijkenberg, ESWIG is currently engaged with the Financial Services Regulatory Authority (FSRA) to facilitate the implementation of the business rescue plan.

Rijkenberg further noted that ESWIG’s ability to recover the losses was dependent on the legal proceedings instituted against the South African entities linked to the current challenges.

Meanwhile, ESWIG continues to assure the affected investors that all necessary means are being done to ensure the recovery of their financial investments. As a result, the company will before the end of this month host a big meeting for all the 1 500 investors.

Strategy

Astatement issued by ESWIG about a fortnight ago states that there is a new management team in place to develop and implement the long-term strategy whose primary focus is full payment of the capital amounts invested in Ecsponent.

It stated that the new management was already working closely with the FSRAand all the concerned stakeholders, including Parliament, which in April this year instructed the Finance minister to table a comprehensive report outlining the efforts being made to recover the monies invested in Ecsponent.

“The new management will, however, require full and continued support from all the investors and stakeholders. The company is desirous of working towards full realisation of the wishes of all investors in so far as the recovery of their capital, which was invested in Ecsponent, is concerned,” reads the ESWIG statement.

“The commitment to resolve this matter remains a priority and it will be the first item to be addressed by the newly-re-constituted ESWIG Board and management,” it further reads in part.