Business

MBABANE - Swazi Empowerment Limited (SEL) delivered a solid financial performance for the year ended March 31, 2025, generating E34.5 million in dividend income from its core investee companies.

SEL is an investment holding company engaged in financial intermediation. The company offers a range of products and services to private, commercial and corporate companies that range from personal and business checking to savings plans, home banking and lending options.

The personal and business division of SEL caters for: Checking, savings, mortgage loans, commercial banking services, trust and investment, auto, home and personal loans. SEL has a 19 per cent stake in the telecommunication entity, Eswatini MTN Limited.

It is a subsidiary of the Public Service Pensions Fund (PSPF).

Apart from a 19 per cent equity stake in MTN Eswatini Limited, the company also holds a 4.9 per cent equity stake in First National Bank of Eswatini Limited. Its holdings also include the Select Bond (SML 1010), Eswatini Development Finance Corporation Bond (FIN507) and Swaziland Building Society Permanent Shares.

According to the audited financial results released yesterday, the company’s interest income from fixed-income and money market investments added E11 million, while operating expenses were at E2.6 million.

Interest expenses totalled E10.1 million, collectively resulting in a profit before tax of E32.7 million. After taxation, SEL posted a net profit of E30.4 million.

A fair value adjustment of E163 million was recorded on the revaluation of unlisted investments, largely influenced by external market conditions. This non-cash adjustment contributed to a comprehensive loss of E132 million for the year. SEL management emphasised that this adjustment does not reduce the underlying strength of the company’s portfolio and it expects the adjustment to reverse over time as strategic initiatives within the portfolio deliver sustainable growth.

*…

SEL buys 49 per cent stake at UFS International

MBABANE - SEL has recently completed the acquisition of a 49 per cent equity stake in UFS International (Proprietary) Limited.

This further diversifies the company’s portfolio and positions it for sustainable growth.

With recovery strategies in place, SEL anticipates a medium-term reversal of the fair value loss while remaining focused on value-driven investments and enhancing shareholder returns.

*Full article available in our publication.

The personal and business division of SEL caters for: Checking, savings, mortgage loans, commercial banking services, trust and investment, auto, home and personal loans. (Pic: Tierra Mallorca)