BY COURT CORRESPONDENCE
MBABANE– The Central Bank of Eswatini (CBE) has secured a major legal victory after the High Court dismissed an application by the Eswatini Consumers Forum (ECOF) challenging the awarding of the bank’s multi-billion-emalangeni headquarters construction tender.
High Court Judge Nkosinathi Maseko ruled that ECOF did not have the legal standing to bring the matter before the court, effectively bringing the challenge to an end and allowing the project to proceed.
The case arose after ECOF questioned the award of the tender for the construction of Phase One of the new Central Bank headquarters in Ezulwini to Ingcebo Joint Venture (JV), comprising Stefanutti Stocks Eswatini (Pty) Ltd and Stefanutti Stocks Construction Eswatini (Pty) Ltd. The consumer body alleged that the procurement process had bypassed regulatory requirements and did not sufficiently promote local empowerment.
However, the court did not proceed to determine the merits of those allegations after finding that ECOF lacked the legal capacity to institute the proceedings.
The judgment represents a significant milestone for the Central Bank, which has maintained that the tender was awarded through a competitive and transparent procurement process.
The project forms part of the Central Bank’s plan to construct a modern headquarters complex in Ezulwini, which is expected to include office facilities, a museum, an innovation hub, library and parking infrastructure. The bank has previously stated that the procurement process involved international competition, independent evaluation by external consultants and a requirement for at least 30 percent local participation within the successful joint venture.
The new headquarters is expected to become one of the country’s largest infrastructure developments, supporting economic activity through construction jobs and business opportunities while providing the Central Bank with a state-of-the-art facility to carry out its mandate.
(Courtesy Pic)
