Tim Nhleko is new Building Society MD

MBABANE – Tim Nhleko has been appointed the new Managing Director of Swaziland Building Society (SBS).

He takes over from Joseph Ndlangamandla who was with the society for 24 years before taking an early retirement at the end of last month.

Nhleko’s appointment was announced by the society’s Board Chairman Winston Lomahoza.

He said Nhleko has worked for most of the major banks in the country at senior level for many years and has been with SBS for seven years as General Manager.

"The Board takes this opportunity to thank Joseph Ndlangamandla for his dedication and support over the years which saw the Society move to greater heights," he said.

Nhleko, in a brief interview said, like any other person who gets a promotion, he was excited, stating though that this was a sizeable challenge, especially given the current economic environment of the country.

"Like any other business, it’s difficult to operate if the environment is not favourable, it poses challenges but again, where there are challenges, there are also opportunities," he said.

He expressed hope that together with his team, they would study the environment and continue to operate and take the society forward.

Taking over the General Manager position is Elizabeth Arden who recently joined the Society having worked for SwaziBank for a few years. Both appointments were with effect from yesterday (August 1, 2012).

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