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IT’S NOW CENTRAL BANK OF ESWATINI

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MBABANE – There is no more Central Bank of Swaziland. The bank has followed suit since the pronouncement by the monarch during the Golden Jubilee that the country was reverting to its indigenous name of Eswatini.


Majozi Sithole, Governor of the bank, informed the media yesterday that the bank was now assuming the trade name ‘Central Bank of Eswatini’ since Swaziland was no longer part of the country’s identity.
Sithole said despite the name change, the public should not expect an overnight change of the currency as the circulating currency was minted in bulk and would take time to be phased out.


He said the new notes with the CBE inscriptions would be released as the need arises.
“Be patient with us as this will take time; we’ll take time to gradually introduce the name. If you call us by any other name, other than the Central Bank of Eswatini, we’ll not even acknowledge that you are addressing us.”


Change


He said the name change came after the management of the bank sought the input of the Board.
The Board, according to Sithole, gave a go ahead.
 The bank, which started its operation in April 1, 1974 came to existence following that on March 22, 1974, King Sobhuza II established The Monetary Authority of Eswatini, through The Monetary Authority of Eswatini Order of 1974.
Ethan Mayisela was the Authority’s first Governor.


At the very beginning, the Monetary Authority of staff complement totalled eight people.
They consisted of the Governor, the late Esther Mazibuko who was a cleaner and tea provider, John Mazibuko, who was in support services and still works at the Bank to this day.

 

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