SA’s Swaziland loan hits snag

Johannesburg – A R2,4 billion ($280m) loan that South Africa agreed to extend to Swaziland has hit a snag, but the landlocked kingdom — Africa’s last absolute monarchy — can survive without it, its Finance minister said on Tuesday.

Report by Reuters

The loan was agreed in 2011 as Swaziland grappled with an acute funding crisis.

South Africa was due to release the first tranche of the bailout last year, but the money never materialised.

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