Saturday, 27 August 2011

Swazi king demands commission on loan

Swaziland is in the midst of a very serious financial crisis. South Africa recently responded with a bail-out loan of R2.4 billion. The move has been criticised by many who feel that this will only serve to prop up Africa's last absolute monarch. South Africa has responded by saying that the loan is necessary for the people of Swaziland, comes with conditions - including some reform - and must be repaid. Now King Mswati III of Swaziland appears to be demanding a R400 million commission for securing the loan for his country, which rather undermines the South African government's position. Also, seems a little nutty to me. Just saying.

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