Tibiyo Taka Ngwane

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Tibiyo Taka Ngwane
Type Investment company
Industry Investment management
Founded1968
Founder King Sobhuza II, the people of Swaziland
Headquarters,
Key people
Themba Dlamini, Mswati III
ProductsPublishing
Beverages
Property Development
Hospitality
Agriculture
Mining
Finance
RevenueIncrease2.svg E218.1m (2012) [1]
Increase2.svg E116m (2012) [2]
Total assets Increase2.svg E1.39 billion (2012) [3]
Owner King Mswati III in trust for the people of Eswatini
Website https://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]

Related Research Articles

Eswatini Country in Southern Africa

Eswatini, officially the Kingdom of Eswatini and formerly named in English as Swaziland, is a landlocked country in Southern Africa. It is bordered by Mozambique to its northeast and South Africa to its north, west, south, and southeast. At no more than 200 kilometres (120 mi) north to south and 130 kilometres (81 mi) east to west, Eswatini is one of the smallest countries in Africa; despite this, its climate and topography are diverse, ranging from a cool and mountainous highveld to a hot and dry lowveld.

Politics of Eswatini

Eswatini is an absolute monarchy with constitutional provisions and Swazi law and Custom. The head of state is the king or Ngwenyama, currently King Mswati III, who ascended to the throne in 1986 after the death of his father King Sobhuza II in 1982 and a period of regency. According to the constitution of Eswatini, the king and Ingwenyama is a symbol of unity and the eternity of the Swazi nation. By tradition, the king reigns along with his mother or a ritual substitute, the Ndlovukati. The former was viewed as the administrative head of state and the latter as a spiritual and national head of state, with real power counterbalancing that of the king, but during the long reign of Sobhuza II the role of the Ndlovukati became more symbolic. The king appoints the prime minister from the legislature and also appoints a minority of legislators to both chambers of Libandla (parliament), with help from an advisory council. The king is allowed by the constitution to appoint some members to parliament for special interests. These special interests are citizens who might have been left out by the electorate during the course of elections or did not enter as candidates. This is done to balance views in parliament. Special interests could be people of gender, race, disability, business community, civic society, scholars, chiefs and so on. The Senate consists of 30 members, of which some are appointed by the king on recommendation of the advisory council and others elected by the lower house. The House of Assembly has 65 seats, 55 of which are occupied by elected representatives from the 55 constituencies around the country, and 10 of which are appointed by the king on recommendation of the advisory council; the attorney general is the ex-officio member. Elections are held every five years.

History of Eswatini Aspect of history

Artifacts indicating human activity dating back to the early Stone Age have been found in the Kingdom of Eswatini. The earliest known inhabitants of the region were Khoisan hunter-gatherers. Later, the population became predominantly Nguni during and after the great Bantu migrations. People speaking languages ancestral to the current Sotho and Nguni languages began settling no later than the 11th century. The country now derives its name from a later king named Mswati II. Mswati II was the greatest of the fighting kings of Eswatini, and he greatly extended the area of the country to twice its current size. The people of Eswatini largely belong to a number of clans that can be categorized as Emakhandzambili, Bemdzabu, and Emafikamuva, depending on when and how they settled in Eswatini.

Mswati III King of Eswatini since 1986

Mswati III is the king of Eswatini and head of the Swazi royal family. He was born in Manzini in the Protectorate of Swaziland to King Sobhuza II and one of his younger wives, Ntfombi Tfwala. He was crowned as Mswati III, Ingwenyama and King of Swaziland, on 25 April 1986 at the age of 18, thus becoming the youngest ruling monarch in the world at that time. Together with his mother, Ntfombi Tfwala, now Queen Mother (Ndlovukati), he rules the country as an absolute monarch. Mswati III is known for his practice of polygamy and currently has 15 wives.

Absalom Themba Dlamini was the Prime Minister of Eswatini from November 2003 to September 2008. He is the managing director of Tibiyo Taka Ngwane.

Flag of Eswatini National flag

The flag of Eswatini was adopted on October 6, 1968 after Eswatini gained independence from the British Empire one month before. The design by King Sobhuza II features a black and white shield, with a staff and two spears, on a field of blue, yellow, and red horizontal bands.

Swazi people Bantu ethnic group of Southern Africa

The Swazi or Swati are a Bantu ethnic group in Southern Africa, inhabiting Eswatini, a sovereign kingdom in Southern Africa. EmaSwati are part of the Nguni-language speaking peoples whose origins can be traced through archaeology to East Africa where similar traditions, beliefs and cultural practices are found.

Sobhuza II King of Swaziland

Sobhuza II, was the Paramount Chief and later Ngwenyama of Swaziland for 82 years and 254 days, the longest verifiable reign of any monarch in recorded history. Sobhuza was born on 22 July 1899 at Zombodze Royal Residence, the son of Inkhosikati Lomawa Ndwandwe and King Ngwane V. When he was only four months old, his father died suddenly while dancing incwala. Sobhuza was chosen king soon after that and his grandmother Labotsibeni and his uncle Prince Malunge led the Swazi nation until his maturity in 1921. Sobhuza led Swaziland through independence until his death in 1982. He was succeeded by Mswati III, his young son with Inkhosikati Ntfombi Tfwala, who was crowned in 1986.

Ngwane V was the King of Swaziland from 1895 until his death on 10 December 1899. Ngwane was born the son of Mbandzeni and his mother was Labotsibeni Mdluli. He ascended to the throne after a short regency of Queen Mother Tibati Nkambule. He was only 16 years old when he became king. His royal capital was at Zombodze while the Queen Mother's residence was at Lobamba. Ngwane became the king after the Swaziland convention of 1894. This had led to the classification of Swaziland as a protected state of the South African Republic which was then led by President Paul Kruger. During this time Swaziland had a partial Dutch administration in parallel to Ngwane's administration. The Dutch or European for European interests and Ngwane as head and authority of the Swazi nation. An annual payment was made to Ngwane and Labotsibeni while they were in office from taxes collected and from contributions from concessionaires and taxes. Ngwane's rule was short. In 1899 the Anglo-Boer war began, and brought to an end the Dutch or Boer partial administration of Swaziland and hence gave way to independence. However Mahlokohla died on 10 December of that year while dancing incwala. This was hid from the nation until the ceremony was over. Ngwane was succeeded by his four-month-old son Nkhotfotjeni and his wife Lomawa Ndwandwe. His mother Labotsibeni who had been very influential during his reign continued as queen regent until Sobhuza was crowned in 1921. Ngwane's reign gave way to a stable territory surrounded by conflicting states. Today Mahlokohla is named for one of the main streets, Mahlokohla Street in Swaziland's capital Mbabane.

Mswati II, also known as Mswati and Mavuso II, was the king of Eswatini between 1840 and 1865. He was also the eponym of Eswatini. Mswati is considered to be one of the greatest fighting kings of Eswatini. Under his kingship, the territorial boundaries of Eswatini were greatly increased. Mswati was the son of Sobhuza I and Tsandzile Ndwandwe who after ruling as Queen Mother became Queen Regent after the death of her son. After the death of Sobhuza, Mswati inherited an area which extended as far as present day Barberton in the north and included the Nomahasha district in the Portuguese territory of Mozambique. Mswati's military power, initially suppressed by infighting with his brothers Fokoti, Somcuba and Malambule, was increased in the late 1850s and thereafter. When Mswati's armies attacked organized forces of other Bantu tribes or nations, the goal was initially plunder in the form of cattle and captives, rather than incorporation into one political unit. During this period the arrival of Trekboers, in what would become the Transvaal republic, marked the first contact between Swazis and European settlers. Mswati greatly extended the boundaries of the Swazi territory beyond that of the present state with military outposts and royal villages outposts such as Mbhuleni, on the upper Komati River at the foot of the Mkongomo Mountains, south of Badplaas, Mekemeke which is east of the Mbayiyane Mountains, situated east of Mantibovu. The death of Mswati II in August 1865 ended the era of Swazi conquest, territorial expansion and resulted in unification of various people into one nation.

Royal Swazi National Airways Corporation was the national airline of the Kingdom of Swaziland. Headquartered in Mbabane with its operational base at Matsapha Airport near Manzini, the airline was founded in 1978. The company still exists, since 2018 under the name Royal Eswatini National Airways Corporation (RENAC), although it does not own an airline, but provides services in the airline sector

Sobhuza I was king of Eswatini, from 1815 to 1836. Born around 1780, his father was Ndvungunye, and his mother was Somnjalose Simelane. He was called Somhlolo, "the Wonder," upon his birth because his father, Ndvungunye, was struck by lightning. When Sobhuza was king, Lojiba Simelane instead of his mother Somnjalose was Queen Mother because Somnjalose was an inhlanti or support bride to Lojiba. Somhlolo is a greatly revered king of Eswatini. He had his first royal capital or kraal at Zombodze in the Shiselweni region, but moved it north to new Zombodze in central Eswatini. Swazis celebrate Somhlolo Day every September 6 as their Independence Day and the national stadium is named Somhlolo stadium. Sobhuza was succeeded by his son Mswati II and his wife Tsandzile Ndwandwe as Queen Mother after a short regency by Queen Lojiba Simelane. Sobhuza by the time of his death had conquered a country claimed to reach to modern day Barberton in the north, Carolina in the west, Pongola River in the south and Lubombo Mountains in the east.

Lobamba is a city in Eswatini, and is one of the two capitals, serving as the legislative, traditional, spiritual, seat of government of the Parliament of Eswatini, and Ludzidzini Royal Village, the residence of Queen Ntfombi, the Queen Mother.

House of Dlamini

The House of Dlamini is the royal house of the Kingdom of Eswatini. Mswati III, as king and Ngwenyama of Eswatini, is the current head of the house of Dlamini. Swazi kings up to the present day are referred to as Ingwenyama and they rule together with the Queen Mother who is called Indlovukati. The Swazi kings, like other Nguni nations, practice polygamy and thus have many wives and children.

Prince Sozisa Dlamini of Swaziland was Chief of Gundvwini. He became the Authorized Person of Swaziland from 1982 to 1985 after the death of King Sobhuza II, and in 1983 was briefly the acting Regent of the country, after he deposed Queen Dzeliwe. From 1983 he was Authorized Person to the new Queen Regent, Ntombi, with greater powers. Although lacking the title, he was for most purposes the de facto ruler of the country. He fell from power in July 1984, after being accused of planning a coup, and was suspended as Authorized Person until Queen Ntombi terminated his appointment on 1 November 1985.

Ndvungunye was King of Swaziland from 1780 until his death in 1815 after succeeding his father, King Ngwane III following a very brief regency of Indlovukati LaYaka Ndwandwe. Very little has been recorded of the quality of leadership under his reign. Ndvungunye built his residence or Sigodlo near Mhlosheni on feet of the eMhlosheni hills in NShiselweni, the south east of modern Swaziland near Zombodze, where his father Ngwane had settled during his reign. His rule thus indicated a period of limited expansion and consolidation which is overshadowed by that of his son King Sobhuza I. The NShiselweni settlements established under his reign which he placed under the guardianship of his chief Sukumbili Mbokane would not however provide a solid foundation for the future Swazi state as indicated by attacks after his death on Sobhuza by Ndwandwe chiefs. Ndvungunye died around 1815 after being struck by lightning. Ndvungunye was married to Lojiba Simelane and Somnjalose Simelane. It was with the latter that he had his son Sobhuza I. Lojiba however became Queen mother as she was a senior sister to Somnjalose. Sobhuza I became the king in 1815 after the regency of Queen Lomvula Mndzebele.

laNgolotsheni (Lomawa) Ndwandwe was the Ndlovukati of Swaziland, the wife of King Ngwane V, and the mother of King Sobhuza II.

<i>Eswatini Observer</i>

Eswatini Observer is a newspaper in the Kingdom of Eswatini. It was established in 1981 and it is owned by Tibiyo Taka Ngwane, a Swazi sovereign wealth fund. The Eswatini Observer has sister newspapers, namely, the Saturday Observer, and the Sunday Observer. After the renaming of the country from Swaziland to Eswatini 2018 the newspaper also changed its name from Swazi Observer to Eswatini Observer

Nukwase Ndwandwe was the Queen Mother of Swaziland, aunt of Sobhuza II, and the sister of Lomawa Ndwandwe.

References

  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. 1 2 Nkambule, Mfanukhona (25 January 2009). "Civil Society wants Tibiyo open for public scrutiny". Times of Swaziland. Retrieved 12 October 2009.