African Alliance: King Mswati III Investment Cartel
5 September 2011
Dear Comrade Lucky and SSN Bloggers in South Africa
Yesterday, [4 September 2011] Richard Rooney – Swazi Media Commentary posted some very serious comments about King Mswati III that were attributed to Earl Irvine, the US Ambassador to Swaziland, in February 2010 in his official report to his principals; the US ambassador was quoted saying “the king is ‘not a reader, and will not review documents left for him.....is ‘not intellectually well-developed”.
A confirmation of the suspicion that as is the case with most of the royal family members, for example, Prince Mahlaba, they inherited pea-sized brains from King Sobhuza that has led to the conflating of God and voodoosm/ancestors and one wonders how the AU and SADC’s gentlemen club membership makes sense of Mswati’s understanding of democracy, recession, monetary and fiscal related discourse.
Against this background of being intellectually handicapped and morally ineligible to interact with democratically elected AU and SADC leaders, Mswati still remain highly respected and trusted.
What really beats imagination is the thought that he will ever understand a bilateral agreement and or the consequences of squandering the bail-out loan on white elephants capital projects.
What is also most disturbing as lamented by the US Ambassador Earl Irvine in the context of the looming economic problems is that “Mswati III uses the investment company African Alliance to move his money around internationally, and ‘Stephen (Stofeni) Ginindza is quite influential and involved in all of the king's international transactions”.
The conclusion to be drawn is that the South African based African Alliance is an accomplice to theft, and deserved to be reined in by the South African Financial Services Board; entrusted with the responsibility of ensuring that all financial investment transaction are ethically sound beyond any reproach.
My appeal to SSN [Swaziland Solidarity Network] and sympathetic South Africans is that can’t you mobilise, despite scarce resources, and canvass against the African Alliance for this unethical behaviour of assisting Mswati to loot Swaziland, precisely because you know their address in Sandton and contact details including the Directors in case you can be in a position to name and shame them, picket or take them to task through the South African Financial Services Board; a unique independent institution established by the South African statute to oversee the South African Non-Banking Financial Services Industry in the public interest.
The FSB is committed to promote and maintain a sound financial investment environment in South Africa.
Africa Alliance Head Office – target for picketing
African Alliance Securities Trading Limited
23 Melrose Boulevard
Tel: +27 11 214 8300
Fax:+27 11 684 1052
Africa Alliance Directors – to be named and shamed
David Karran - Director
David has been a director of African Alliance since 2005, and managing director of Simcocks Trust Limited since 2001. He is responsible for the day-to-day management and bottom-line performance of the company. Before joining Simcocks, David was managing director of Isle of Man Financial Trust Limited for six years. He also served as internal auditor for the Treasurers Department of the Douglas Borough Council, Isle of Man. In 1989 David was elected a member of the Association of Accounting Technicians.
David is a British citizen.
Moira McHarrie - Director
Moira has been a director of African Alliance since 2005, and an executive director of Simcocks Trust Limited since 2001. She is responsible for establishing the company’s financial budgets and ensuring adherence. Before joining Simcocks, Moira was an executive director of the Isle of Man Financial Trust Limited for two years.
Moira is a British citizen.
S’thofeni (Stephen) Ginindza - Director
S’thofeni joined African Alliance in 1995. As a group partner, he is responsible for a number of group operations. He is also a senior director and chairman of a number of subsidiaries. Prior to joining the African Alliance group, S’thofeni worked as an economist for the World Bank and later as an economist for SwaziBank. He is a director of several external companies, including government entities, parastatals, and listed institutions.
S’thofeni is a Swazi citizen.
Tony de Castro - Director
Tony is the founder of the group and has been a director since inception. Tony advises the group on strategy, drawing on his extensive experience in the banking sector spanning a wide range of banking disciplines.
Tony is a Portuguese citizen.
The de Castro Family Trust owns 100% of African Alliance Holdings which, in turn, controls African Alliance Limited.
While the de Castro Family Trust holds 100% of the parent company, African Alliance staff hold significant stakes in the underlying companies. This aligns group and individual interests and is a distinct advantage in retaining top-calibre people in this competitive field.
Please bear with me if it seems as if I’m making a lot of demands to SSN, as students we can’t take this oppression anymore, Sometimes I wish I was employed or a business person so as to be in a position to assist SSN on its noble work, because I sincerely believe such action against African Alliance will complement the SSN Cultural Boycott and go a long way in teaching a lesson to all countries and people who are supporting the dictatorship of Mswati and his family
Yours in the struggle for democracy in Swaziland
Vezamusa Magongo (Student)
US FRANK ASSESSMENT OF SWAZI KING
US SAYS SWAZI KING ‘IMBALANCED’