Africa-Press – Eswatini. The EswatiniBank has lived up to true mandate as a development bank having advanced as much as a staggering E21 billion in loans over the last 15 years.
This was revealed by EswatiniBank Managing Director Nozizwe Mulela during the bank’s Business Gala Dinner held at Royal Swazi Sun Convention Centre on Tuesday.
“Eswatini Bank remains financially strong and firmly committed to its developmental mandate. Over the past 15 years, we have extended more than E21 billion in loans across both developmental and commercial portfolio, financing communities, supporting national projects, and enabling businesses to grow.
This demonstrates our continued relevance as a catalyst for socio-economic progress in the Kingdom,” Mulela said.
Mulela highlighted that they acknowledge that the past few years have not been without their challenges with the bank’s profitability under pressure, influenced by a combination of internal constraints and external market dynamics, including the rapidly evolving expectations of today’s customer.
“One of the notable hurdles has been the delay in modernizing our systems, an area that has inevitably impacted the speed, efficiency, and competitiveness of our product offerings and overall customer experience.
This evening is more than a dinner. It is a strategic gathering designed to strengthen relationships, spark new partnerships, and align our collective role in advancing Eswatini’s socio-economic development.
As highlighted by the Bank’s Board Chairperson, our intention is simple yet powerful ‘to work better together’,” she said.
Mulela said, at Eswatini Bank, they recognise that neither government, SOEs, nor the private sector can transform the economy alone and the country’s progress depends on shared responsibility, shared resources, and shared vision.
“This gathering therefore serves as: a platform for open dialogue, a space for collaboration, and an invitation to co-create solutions that contribute to economic growth, financial sustainability, and national resilience,” she said.
Mulela said as a bank they have met the challenges with action, not excuses. She stated that over the past three years, they have embarked on several initiatives to mitigate these challenges.
EswatiniBank Managing Director Nozizwe Mulela seated in table with Minister of Finacnce Neal Rijkenberg and Board members Lincoln Motsa, Dumisani Mahlinza and Dr
She highlighted these challenges as follows:
“Modernising Our Systems: We have invested significantly in upgraded IT infrastructure, a refreshed core banking environment (ongoing), and have a new full banking system planned for rollout in the new year.
These investments are essential not optional. This is the journey we are on: to deliver a banking experience that is digital, simple, secure, and efficient.
ii. Digital Banking Products: We have also intensified our investment in digital banking, evidenced by the rollout of key innovations such as the ShareSha digital wallet and our Agency Banking programme, among others.
These initiatives mark the beginning of a broader digital transformation journey designed to expand access, enhance convenience, and improve the overall customer journey.
iii. Strengthening Governance & Risk Management: We have enhanced our credit governance structures and sharpened performance disciplines across the bank, reflecting our commitment to sustainability, transparency, and responsible lending.
iv. Putting the Customer at the Centre: Our planned customer-centric business models are being designed to offer: tailored solutions, sector-specific value propositions, and far more responsive service especially for you our SOEs and corporate clients.
“The priority is to adopt a more intentional approach where dedicated relationship teams will proactively visit your organisations to truly understand your needs, challenges, and aspirations.
This is how we will build relationships that extend well beyond transactions. As we continue modernising and repositioning the bank, we humbly and confidently make a request:
Let us partner with you, let us be your bank of choice for your deposits, your transactional banking, your credit requirements, and your investment needs.
In short allow us to be your enabler for all things banking,” she appealed to the business leaders and Corporates in attendance at the Gala Dinner.
Mulela stated that Eswatini’s state-owned enterprises and private sector organisations are not just entities delivering services but they are the backbone of national development.
“The financial decisions you make influence: investment flows, job creation, infrastructure outcomes, and economic stability.
Tonight is a reminder that our success is interconnected.
A strong banking partner enables stronger institutions. Stronger institutions build stronger economies. And stronger economies uplift nations,” she said in conclusion.
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