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NCOP opposes Swazi bailout plan

The DA says it is encouraging that the ANC has opposed government's financial bailout plan for Swaziland.

President Jacob Zuma welcomes Swaziland's King Mswati III to the African Diaspora. Picture: GCIS.

CAPE TOWN - The Democratic Alliance (DA) on Wednesday said it was encouraging that the ANC in the National Council of Provinces (NCOP) has opposed government's financial bailout plan for Swaziland.

Earlier this week, Finance Minister Pravin Gordhan told Parliament that the first payment would be made in September.

Swaziland managed to secure the R2.4 billion loan from the South African Reserve Bank in November 2011.

But the ruling party in the NCOP wants the state to reconsider its position.

The DA's Alf Lees said, "Basically, they are bailing out the king and his huge expenditure on himself and his wives."

In April, King Mswati III received a privet jet from anonymous sponsors for his birthday.

Forbes magazine ranks Mswati as the world's 15th richest monarch.