By Thokozani Mazibuko
The House of Assembly has appointed a seven-member Select Committee to conduct a thorough investigation of the Ecsponent Saga.
This decision comes in response to widespread public demand for accountability and transparency regarding the fate of E340 million invested by over 1,000 emaSwati in the infamous Ecsponent Eswatini scandal.
The committee is comprised of notable MPs, including Mtfongwaneni MP Nathi Hlophe, LaMgabhi MP Sicelo Jele, Appointed MP Thembeni Magongo, Mbabane East MP Welcome Dlamini, Mhlangatane MP Madala Mhlanga, Lomahasha MP Zanele Mashaba, and Lobamba Lomdzala MP Marwick Khumalo.
Collectively, they are expected to deliver their findings within 21 days.
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The creation of the Select Committee follows an intense situation in the Public Gallery of the House of Assembly, where many investors and interested stakeholders gathered, eager to hear the discussions surrounding the forensic report related to Ecsponent.
Among those present was the former Speaker of the House, Petros Mavimbela, who has been an outspoken advocate for the investors’ rights.
The Ecsponent saga has not only consumed significant financial resources potentially amounting to hundreds of millions of emalangeni but has also taken a devastating toll on investors’ lives.
Many who trusted the company with their hard-earned savings have either passed away or faced significant financial ruin without receiving any returns on their investments.
The shocking revelation that the entity was sold for a fraction of its worth, raising questions on the management and oversight of such financial institutions, has fueled public outrage.
Investors are now demanding justice and accountability, especially in light of the apparent mishandling of funds and the lack of communication from the involved parties.
With the Ecsponent debacle spanning several years, many are left in the dark as to the status of their finances and the possibility of recovering their lost investments.
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The newly formed Select Committee aims to uncover the truth surrounding the transactions and practices that led to the dissolution of Ecsponent Eswatini.
As the committee embarks on its investigation, the emaSwati community remains hopeful for a resolution that could provide closure for the many families affected by this financial scandal.
“We simply want to know what happened to our investments and who is responsible,” said one investor outside the House of Assembly.
The coming weeks will be crucial not only for the select committee but for all those who placed their trust in Ecsponent Eswatini.
