EZULWINI – EswatiniBank has channelled more than E21 billion in loans into the economy over the past 15 years, financing community development, national projects and commercial enterprises.
This is a milestone the bank says reflects its relevance as a catalyst for socio-economic transformation.
The figures were shared by EswatiniBank Managing Director (MD) Dr Nozizwe Mulela during the bank’s Business Gala Dinner held on Tuesday evening at the Royal Swazi Sun Convention Centre.
The high-profile engagement brought together senior executives, CEOs, government leaders and state-owned enterprises (SOEs) under the theme of collaboration, institutional strength and shared responsibility in transforming the national economy.
Dr Mulela said the dinner was not merely a ceremonial gathering, but ‘a strategic platform designed to strengthen relationships, spark new partnerships and align our collective role in advancing Eswatini’s socio-economic development.’
Dr Mulela emphasised that EswatiniBank remains financially stable and firmly committed to its developmental mandate. Over the past decade and a half, the lender has extended significant credit facilities which have supported businesses, agricultural development, infrastructure projects and community-level investments.
“This demonstrates our continued relevance as a catalyst for socio-economic progress in the kingdom,” she said.
Despite this progress, the MD acknowledged that the bank has faced operational and market challenges in recent years. Profitability pressures, delayed system modernisation and evolving customer expectations have all demanded organisational agility and decisive transformation.
“We have met these challenges with action, not excuses,” she added.
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Eswatini to draw lessons from Eskom’s turnaround
EZULWINI - Minister for Finance Neal Rijkenberg says Eswatini stands to benefit from the Eskom transformation model, especially given the deep economic and energy interdependencies between the two countries.
He noted that South Africa’s improved ratings and operational recovery have positive spill-over effects on Eswatini’s own economic performance.
“Eswatini cannot ignore the turnaround at Eskom because the ripple effects reach our shores,” he said. “As our closest trading partner and energy source, South Africa’s recovery is beneficial to our economic stability. We are taking a leaf from their discipline, governance and long-term strategic execution.”
The minister added that Eswatini’s institutions - both public and private - must internalise the principle of strong institutions as the backbone of national development, a theme echoed earlier by EswatiniBank Board Chairperson Dumisani Mahlinza.
The minister further urged emaSwati, especially businesses, to support the bank to grow and continue to service the nation as that is its mandate.
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… moving needle with new full banking system
EZULWINI – EswatiniBank is set to roll out an entirely new full banking system in the new year, marking one of the most significant technological upgrades in the bank’s modern history.
The bank’s Managing Director Dr Nozizwe Mulela said this transformation was critical to accelerating digital banking adoption, enhancing security and delivering a seamless, modern customer experience.
“This is the journey we are on: To deliver a banking experience that is digital, simple, secure and efficient,” she said.
Industry players at the event described the development as a major leap forward that positions EswatiniBank competitively among regional financial institutions.
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