Swaziland News

For all your Swazi News

Roux Shabangu invest E5 billion in Swaziland

Business Section

By Alec Lushaba - SWAZI OBSERVER-10-Oct-2009

Swazi born, South African business magnate, Roux Shabangu, who early this week unveiled a multi-billion Emalangeni plan for the capital city takes his investment to E5 billion in the country.

His E1.5 billion civic centre project add to the E3.5 billion investment in the mining of Dvokolwako Diamond Mine through his local company, Roux Consolidated. The Swazi Observer reported in January that Shabangu promised that when the Diamond Mine is fully operational it will create jobs for 2 000 people.

Shabangu’s E5 billion investments in Swaziland is almost half or more his total investment in South Africa, mainly in the Mpumalanga, Gauteng and Eastern Cape Provinces. Housing and Urban Development Minister Pastor Lindiwe Dlamini has given the Mbabane Municipal City development her approval. Interviewed this week, Pastor Lindiwe said government supports public, private partnerships (PPPs) and would encourage other towns to venture into these kind of partnership as it help generate revenue for the town, hence softening the burden on rate payers.

“I have looked at their proposal and agree with its principle, as it helps the municipality to generate other sources of revenue. “I have said though that the municipality and the investors should go and refine their figures, which they are doing,” she said.

Pastor Lindiwe said a similar project was planned for Manzini at the Old Trade Fair grounds, but certain challenges between the council and the investors and the lapsing of the agreement meant that it had to be shelved. Shabangu’s company, Roux Property Development Africa has interests in commercial projects where he has invested E1.9 billion and created 17 400 jobs. In residential development he has invested E2.3 billion.

In the earth moving equipment sector he has assets worth E20m and has formed partnership with Bekker Plant Hire. Roux Consolidating Investment is handling both anthracite coal concession worth E450m and platinum mining concession worth E4.5 billion. In the transport division, Roux Shabangu Transport owns 50% shareholding in Savlime Transport which has E50m worth of assets.

Summary of his investment in South Africa: Commercial development – E1.9 billion and 17400 jobs Residential development – E2.9 billion Transport division – E50m Earth moving equipment – E20m Mining – E4.9 billion NB: Additional information from Roux Development Africa website.

Readers Comments :

Note: The views and opinions expressed are those of the authors and DO NOT necessarily reflect those of Swazilive.com

Comments:Dear Mr Shabangu, I represent a family of 5th generation sugar cane farmers in northern KZN. We own 1000ha of coastal lands with an APPROVED "affordable" development of 1336 opportunities covering 217ha, adjacent to Prince's Grant Golf course and Blythdale Coastal Resort. We also own a piece of beach land with 0.5km beach frontage. I would like the opportunity to meet with you and discuss the possibilities of a sale or JV on our land. Would you be interested? Kind regards, Keval Bodasing (0837755538)

From:Keval Bodasing - South Africa (03-Aug-2010)

Comments:He is the man we all dream to be like someday!he is a true inspiration"we are proud of him in sa"

From:Hope stewart - South Africa (20-Nov-2009)

Comments:Having known and dealt with Roux Shabangu for a short time up to this end I can bet with my life that this is going to be one of the most successful projects. One of the major contributing factors is that Roux himself is a down to earth person who puts people before his own needs. When he does anything he makes sure that quality comes before quantity which is why BJM Mining Resources is proud to be associated with him. Swaziland is one of the countries that has potential to grown beyond imagination and they are fortunate to have good-hearted entrepreneurs like him on board. I say to him keep up the good work and God will reward you with more. B.J. Modise Chairperson: BJM Mining Resources

From:Bogosi Modise of BJM Mining Resources - South Africa (12-Oct-2009)

Submit Comments

Your Name

Your Email (will not be shown)

Your Country


Swaziland News on Swazilive.com

Providing you up to the minute news on Swaziland.

Main Newspapers in Swaziland.

SwaziobserverTimes Of Swaziland

A Picture of the Swaziland Flag

Latest Stories

Business News

Sports News