SA, Swaziland discuss R2.4bn loan

South African currency. Picture: Taurai Maduna/Eyewitness News.

JOHANNESBURG - The payment scheme of a R2.4 billion loan to Swaziland is still being negotiated, National Treasury confirmed on Monday.

Earlier in August, Finance Minister Pravin Gordhan said the first in a series of payments would begin in September and that the loan was approved.

In 2011, there was a public outcry after South Africa announced that it would give the poverty-stricken country a loan to deal with its massive debt, despite the country’s poor human rights record.

But Treasury said the payment plan was still under negotiation and that the loan had not yet been secured.

Treasury spokesperson Jabulani Sikhakhane said, “The deal is still to be concluded by the financial authorities from both countries. The money will not be paid until those negotiations are concluded.”

(Edited by Zethu Zulu)