Africa-Press – Eswatini. Eswatini Sugar Association (ESA) Chief Executive Officer Philemon Mnisi has been appointed the new Governor of the Central Bank of Eswatini (CBE).
Mnisi’s five-year term as governor is effective from July 1, 2022, according to Prime Minister Cleopas Dlamini.
The PM, during a press briefing held at Cabinet offices yesterday morning, expressed his gratitude to His Majesty King Mswati III for the appointment, and further wished the new governor well in his five-year term.
“The appointment of the governor shall not exceed a five-year term,” explained the PM.
The appointment of Mnisi addresses a vacancy which had arisen following the retirement of Majozi Sithole.
The selection of the experienced banker to fill the shoes of Sithole was expected to ensure continuity at the Central Bank, as someone who is not completely new to the financial institution.
Mnisi once held the position of assistant governor, a position he held upon his return from South Africa, where he had a short stint with different financial institutions.
He returned to the country in 2008 after holding influential positions in South African financial institutions, such as the ABSA Bank, where he held the position of head group talent management. Prior to that he had been the chief executive officer at the Institute of Bankers in South Africa, a position he held for a period of two years.
The incoming governor heads various corporate entities boards, including that of power utility, the Eswatini Electricity Company (EEC).
Banker
He was holding the reigns as the Chief Executive Officer (CEO) at the Eswatini Sugar Association prior to his appointment. He is well-known as an experienced banker and strategist.
Previous positions held by Mnisi include CE of Standard Bank Swaziland, assistant governor of the Central Bank of Eswatini and CEO of the Institute of Bankers in South Africa.
He holds a PhD in Leadership and Management, Master’s in Business Leadership and BCom Accounting degree. Has serves as Board chairman in several organisations.
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