By Inside Biz
Members of the Swaziland Building Society (SBS) have been reassured of the continuation of high-quality service as the Society transitions into a commercial bank.
Throughout its 62-year history, the Swaziland Building Society (SBS) has earned a strong reputation for exceptional efficiency in the financial services sector. Customers have consistently praised the Society for its ability to avoid the common frustrations of long queues, unresponsive staff and malfunctioning technology. This long-standing commitment to service excellence has attracted a growing number of customers, significantly expanding the Society’s client base.
During the recent outreach sessions, some members voiced concerns about the potential decline in service standards, citing frustrations with slow service delivery they had experienced at most local commercial banks.
One member shared during the session at Ezulwini; “At SBS, we don’t wait long for service – you’re in and out within 15 minutes, which is highly appreciated.” This sentiment was echoed during the session in Mbabane, where another member expressed fear that the efficiency they currently enjoy at SBS might be compromised following the transition to a bank.
A similar concern was raised at an educational session held in Nhlangano, where a member remarked, “We chose SBS because we were running away from inefficiencies at other banks. Even with the conversion, we hope you will maintain the high level of efficiency we are used to.”
In response, SBS Managing Director, Mbali Sibanyoni, assured members that the transition would not impact the Society’s commitment to service excellence. In fact, she emphasised that service efficiency would not only be maintained but further enhanced, with plans to introduce innovative products to meet the members’ needs.
“SBS has invested significantly in technology to support banking operations, including a scalable core banking system that will efficiently handle products and services,” Sibanyoni said.
Echoing this sentiment, SBS Manager Legal, Velaphi Dlamini, reiterated that optimal service delivery would remain a priority in the new bank. “We will ensure that our efficiency remains intact,” he affirmed, addressing concerns raised by members.
Dlamini also noted that the Society implemented policies and procedures in line with regulatory guidelines for the new banking products.
Meanwhile, SBS Swazi Plaza Branch Manager, Eric Gamedze, expressed confidence in the Society’s readiness for the transition, further stating; “We have recruited professionals with the necessary skills and experience and are fully prepared to compete effectively in the banking industry.”
SBS members are invited to attend a Special General Meeting (SGM) on Friday, November 15, 2024, at Zakhele Free Evangelical Assemblies (FEA – New Auditorium) in Ngwane Park, Manzini, starting at 9 a.m. The main agenda item will be voting for the Society’s conversion into a commercial bank.
For those unable to attend, proxy forms (blue in colour) are available in the Conversion Statement document and can be submitted at any SBS branch by 4 p.m. on Monday, November 11, 2024. The Conversion Statement is available at SBS branches, via the SBS Conversion Desk, the Conversion Portal or by email.