Central Bank of Eswatini extends support for EswatiniBank

The Central Bank of Eswatini (CBE) has extended its technical support for EswatiniBank by 12 months to facilitate the implementation of the lender’s turnaround plan. This extension follows an initial nine-month intervention that began in April, during which consultants were appointed under the Financial Institutions Act, 2005.

To assist with the implementation, CBE Chief Operations Officer Mfanufikile Dlamini will be seconded to EswatiniBank for up to 12 months, effective October 1. Dlamini will undergo a three-month handover period with existing consultants to ensure continuity in supporting the bank’s board and management.

CBE Governor Dr. Phil Mnisi noted that while the continued use of external consultants is under consideration, the bank is mindful of the high costs associated with them. The secondment of a senior executive is intended to provide technical support while addressing these cost implications. The intervention aims to ensure EswatiniBank remains a resilient institution capable of supporting economic stability and job creation.