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ESWIG APPOINTS NEW MANAGEMENT

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MBABANE – In an effort to recover the millions of Emalangeni lost by emaswati to Ecsponent Eswatini Limited, a new management team is in place.

The new management operates under ESW Investment Group (ESWIG), which came into being in March 2020 with the sole mandate of recovering the E340 million lost by emaswati who invested into Ecsponent Eswatini. At the helm of ESWIG is Max Bongikhosi Mkhonza, the Chief Executive Officer, who is a renowned corporate executive with in-depth knowledge in developing and implementing organisational strategy. He joined the company in May 2022 from Sincephetelo Motor Vehicle Accidents Fund (SMVAF). Mkhonza was officially introduced by the ESWIG Board Chairman, Ndumiso Mamba, to the over 1 500 investors during the general meeting held at Esibayeni Lodge over the weekend.

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Mamba said Mkhonza was tasked with taking ESWIG forward by identifying potential investments to be tapped into and ensuring that the embezzled investments were repaid. Also introduced during the general meeting was George Manyere, who solely kept ESWIG afloat since early 2020. Manyere doubles as a shareholder and Chief Investment Officer. Other key management personnel include, a former journalist and reputable communications professional Sifiso Trevor Dhlamini, who is the Head of Investor Relations, Marketing and Public Relations. Dhlamini was roped in to ensure effective interactions with the company’s broad stakeholders, especially the grief-stricken investors. Others include Buhle Madonsela, the Acting Finance Manager, as well as Sandile Mthethwa, the Head of Legal and Company Secretary.

When addressing the investors, Manyere made it known that none of the members of the current management team was present when the E340 million investments were transferred to South Africa. “The board chairman joined Ecsponent in 2018 and I came in around 2020 while the rest of the team came into the picture about a month ago,” he said. He informed the investors that those who started the business in 2013 were no longer with the company, hence the new management. He said they wanted to engage with the investors physically to ensure transparency and accountability.

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