Zulu traditional PM Thulasizwe Buthelezi launches investment company for amakhosi

A new investment company aimed at securing long-term prosperity for the Zulu kingdom has been established, with a large telecommunications company set to be its first investor. 

Isandlwana Holdings, named after the first battle of the Anglo-Zulu war which ended in a decisive victory for the Zulus, was announced on Thursday by Thulasizwe Buthelezi, the Zulu traditional prime minister, on behalf of King Misuzulu KaZwelithini. 

“The king believes that we as the Zulu kingdom should be able to be financially independent, because we have all types of resources but there is [no] initiative to enhance the self-sufficiency of amakhosi and their nations to foster greater economic independence and sustainability,” he said. 

Isandlwana Holdings, he said in Ulundi where he met amakhosi, is the brainchild of the king, together with provincial houses of traditional leaders whose executive committee was part of the decision to start the new “empowerment company”.

“This company has been established for you to realise your community development projects, not to wait for government — as government comes to you during election campaigns only. Waiting for government is not enough, even the government budgets are shrinking, therefore when there are credible companies that want to work with traditional leadership we should take it on,” Buthelezi said.

“Vodacom has R80m it wants to invest in traditionally led areas. They chose Isandlwana Holdings to be their vehicle to work for the development of amakhosi areas.

Amakhosi can be shareholders of Isandlwana Holdings with an investment of R100,000 — a figure decided upon by the provincial house of traditional leaders.

The traditional prime minister, who is also the KwaZulu-Natal MEC for cooperative governance and traditional affairs, urged amakhosi to not miss the “golden opportunity”.

“There are still places with no network towers in rural areas. When Vodacom says, 'let's work together,' that is progress. There are many programmes they have that will develop our areas. But we need to invest too.”

Buthelezi revealed that African Bank representatives and its board have visited the king and expressed a desire to invest.

He expressed “no confidence” in the Ingonyama Trust as a vehicle for material benefit and welfare of the communities whose land it administers. He attributed this to what he called the Ingonyama Trust board’s failure to include amakhosi in its plans, saying amakhosi gain nothing from the trust.

“This current board, since it was announced over a year ago, has never met with amakhosi — that has never happened with previous boards. They hold strategic workshops without consulting the owners of the land (amakhosi). 

“Even when the king realised things were getting out of hand and decided to chair the board himself, they just called meetings and excluded him. When we said they must come to Ulundi for a meeting, the CEO said it was too far. The king called a meeting here in Ulundi — he waited for three hours, they didn't pitch.”

Buthelezi likened Isandlwana Holdings to Royal Bafokeng Holdings in that “it is able to gain financial independence”, adding that it was an opportunity for the use of KwaZulu-Natal's resources to improve the lives of those who live on amakhosi land. 

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