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THANK YOU FOR TRUSTING ME – PSPF’S NEW CEO

18/03/2022 09:47:00 Sibusiso Shange

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MBABANE- “Thank you for trusting me.”

This was said by Bernard Masotja Vilakati after the announcement of his appointment as the new Chief Executive Officer (CEO)of the Public Service Pension Fund (PSPF) yesterday.
In his brief remarks after the announcement of his appointment, Vilakati thanked cabinet and His Majesty King Mswati III for trusting and further approving his appointment as CEO of one of the multibillion investments organisations in the country. Vilakati promised to serve the organisation with respect and diligence. “I hope members of the fund will be happy with my work. I hope the ministry and country as a whole will support us. I hope the board will guide us where necessary,” he said briefly. The new CEO stated that he had not prepared a speech as he was not aware of the opportunity to say a word after his appointment.

Meanwhile, Dr Lawrence Nsibandze who was appointed Director of Finance thanked the King for trusting him. He pledged to devote himself as he assumed his new position. In vernacular, Nsibandze said: “Ngitawufaka emandla ngihloniphe onkhe amalunga.” The appointment of the duo was announced by Minister of Public Service Mabulala Maseko in a press conference held at the Public Service Pension Fund offices yesterday. The minister described the new CEO (Vilakati) as someone who was well versed in the operations of the fund as he was previously the Director Investments from 2016 to date. Maseko stated that Vilakati was then tasked with the position of acting CEO from October 2021. This, the minister said was after the sudden and unforeseen death of the Chief Executive Officer Langalakhe Dlamini who died in August last year.

Maseko further revealed that Vilakati was highly skilled and richly qualified in management and financial markets with various qualifications, which included an MBA from the University of Pennsylvania. The minister stated that Vilakati also worked at the Central Bank of Eswatini as part of the executive management as General Manager Finance and Financial Markets. He said there was a need to fill the CEO position, as it was responsible for the strategic and corporate leadership and management of the fund to fulfill its mandate. Maseko stated that the position reported to the Board of Trustees.

Professionalism

“We congratulate you on your appointment Mphephetse, wena Wengwedze and we wish you all the best in your work. We are confident that you will lead the organisation and steer it towards greater success with sincerity, integrity and professionalism,” Maseko said. The minister also announced the appointment of Dr Lawrence Nsibandze to the vacant position of Director Finance. Maseko mentioned that Nsibandze stood out as the main candidate because he had, among his long list of qualifications, a doctorate in Business Administration from the Atlantic International University. Maseko shared that Nsibandze was a full Charted Accountant with strong experience in working in the financial, banking corporate and public enterprise sectors.

The minister said the position of the Director Finance was very important because he was tasked with the responsibility to effectively manage the financial health of the PSPF by managing the budget, monitoring the performance of the investments, developing and implementing risk mitigation strategies. He said the position reported to the Chief Executive Officer.
“We congratulate you babe Goje, Mdlanyoka for this appointment and we wish you all the best in your duties,” he said. Nsibandze replaced the fund’s long serving Director Finance Farlie Mabuza, who left the fund on retirement.

Maseko stated that Nsibandze’s appointment followed a transparent and rigorous recruitment process. The appointment of the duo was witnessed by the PSPF Board member’s staff and Board of Trustees. The minister also announced the former Eswatini Bank Managing Director Zakhele Lukhele and Phetsile Masilela, as new Board members. He said he was hoping that Lukhele and Masilela would contribute a lot to the fund as they held leadership positions in their former companies.