The master of Eswatini's High Court, Lindelwa Magagula, has expressed concerns that threats to stop the sale of Royal Swazi Spa could collapse the transaction. In a founding affidavit, Magagula stated that the threats, made by Robinson Bertram on behalf of Sun International Management Limited, Nedbank Swaziland Limited, and Eswatini National Provident Fund, could undermine the finalisation of the liquidation process. The threats were made after the High Court set aside the appointment of Paul Mulindwa as co-liquidator of Swazi Spa Holdings and its subsidiaries.
According to Magagula, Robinson Bertram's letter to Tibiyo Taka Ngwane on August 28, 2026, stated that any acts undertaken by Mulindwa as co-liquidator during the subsistence of the liquidation were liable to be challenged and set aside. Magagula alleged that this statement was meant to throw the liquidation process into disarray or cause Tibiyo Taka Ngwane to abandon the sale. The master is seeking an interdict against the respondents to prevent them from interfering with the liquidation process.
The application, filed under High Court case number 614/2022, seeks to direct all parties to respect the status quo that existed before the delivery of the judgment and order appealed against. The master is also asking the court to declare that the noting and prosecution of the appeal under Supreme Court case 83/2026 suspends the operation and execution of the High Court judgment delivered on July 29, 2026. The appeal is pending before the Supreme Court.
Meanwhile, Tibiyo Taka Ngwane Managing Director, Dr Absalom Themba Dlamini, has announced that the reopening of the Royal Swazi Hotel is taking shape. Dlamini stated that the hotel could reopen before the end of the year, with due diligence being undertaken and expected to be completed as quickly as possible. He made the remarks during the UAE Leadership Cocktail Dinner held at Hilton Garden Inn in Mbabane.
The liquidation process, through which the former Swazi Spa Holdings and its subsidiaries were sold, has been ongoing. Magagula stated that Mulindwa was appointed as co-liquidator on March 18, 2022, alongside Marisa Boxshall Smith, a lawyer. The co-liquidators have worked together to dismantle an unlawful Creditors Committee that had usurped the powers of the liquidators.
However, the respondents were unhappy with Mulindwa's appointment and approached the High Court under a certificate of urgency. The application was brought in two parts, with Part A seeking an order interdicting Mulindwa from carrying out his duties while the application was pending. Part A was voluntarily abandoned by the respondents, and the High Court subsequently dealt with Part B, declaring the master's decision to appoint Mulindwa as co-liquidator unlawful.
The master has since noted an appeal against the judgment, which is pending before the Supreme Court. Magagula argued that the appeal is bona fide and that the attorney general is preparing the record for enrolment at the earliest date. The court application and appeal are significant developments in the ongoing liquidation process of Swazi Spa Holdings and its subsidiaries.
Key points
- The master of Eswatini's High Court warns that threats to stop the Royal Swazi Spa sale could collapse the transaction.
- The threats were made by Robinson Bertram on behalf of Sun International Management Limited, Nedbank Swaziland Limited, and Eswatini National Provident Fund.
- The Royal Swazi Hotel could reopen before the end of the year, according to Tibiyo Taka Ngwane Managing Director, Dr Absalom Themba Dlamini.
