The UNESWA Endowment Fund and Cape Town-based investment advisory firm Independent Actuaries and Consultants (IAC) have signed a landmark Investment Policy Memorandum of Agreement (MOA).
The MOA aims to strengthen the University of Eswatini’s (UNESWA) long-term financial sustainability through a new investment-driven funding model.
During the signing event at Mountain View, the UNESWA Endowment Fund’s Chief Executive Officer (CEO), Vulindlela Simelane, described the agreement as a flagship partnership signaling a decisive shift toward a commercially driven, investment-oriented strategy, following the Fund’s recent rebrand from the UNESWA Foundation.
“We are here today to sign a flagship partnership with Independent Actuaries and Consultants, earmarking the development of a more investment-oriented approach and hybrid funding strategies to spearhead the advancement of the University of Eswatini,” Simelane said.
The alliance will develop a comprehensive investment policy to guide the UNESWA Endowment Fund’s goals, asset allocation, risk tolerance, and governance framework, a milestone aligned with the Fund’s transformation into a commercially focused institution.
New Strategic Roadmap
The agreement follows the adoption of the Fund’s new five-year strategic roadmap, the establishment of six business units, strengthened human resources capacity, and enhanced Information and Communication Technology (ICT) systems, all of which are designed to position the UNESWA Endowment Fund as a sustainable financial engine for the national university.
Simelane noted that UNESWA has faced significant financial challenges in recent years, including deficits and technical insolvency estimated at about half a billion Emalangeni. He emphasized that the UNESWA Endowment Fund has been mandated to mobilize resources to ensure the institution’s financial stability in the short, medium, and long term.
“Our philosophy is to leverage innovative and blended finance techniques to create multiple income streams while avoiding the risks of relying on a single funding source,” he explained, adding that the investment policy will provide a disciplined framework for achieving these objectives.
Representing IAC, Managing Director Asim Gani described the partnership as a bold, forward-looking move by the UNESWA Endowment Fund. “We are thrilled and privileged to be part of this arrangement and look forward to a long, fruitful relationship to assist the Fund in terms of sustainability and development,” Gani said.
He highlighted that IAC provides independent actuarial advisory and corporate finance services across the Southern African Development Community (SADC) region and will leverage its regional expertise to support the Endowment Fund. He revealed that the development of the investment policy will be undertaken as a pro bono project, underscoring the firm’s commitment to the partnership.
He stressed that the partnership could serve as a catalyst for fast-tracking the Fund’s mandate. The MD noted that a robust investment framework would enable the Fund to support infrastructure development, research initiatives, and student support programs. “This partnership will serve as a catalyst for fostering the UNESWA’s long-term financial sustainability,” he said.
According to officials, the collaboration emerged from engagements at institutional investors’ forums hosted by MN Capital, a continental organization with a footprint across Sub-Saharan Africa. The forums provided a platform for networking between the Endowment Fund and IAC, ultimately culminating in the strategic alliance.
Simelane expressed gratitude to MN Capital and its partners for facilitating the connection that led to the agreement, noting that such collaborations are critical for mobilizing expertise and investment into Eswatini’s higher education sector.
As the UNESWA Endowment Fund embarks on this new chapter, stakeholders say the partnership demonstrates growing confidence in innovative financing solutions to address institutional challenges facing higher education in the region. With the investment policy framework now underway, both parties expressed optimism that the collaboration will unlock long-term value for the university and contribute to national development.
As the signing event concluded, both parties expressed confidence that the collaboration would yield tangible results in the coming years. The next phase will involve drafting and implementing the investment policy, followed by identifying strategic investment opportunities aligned with the UNESWA Endowment Fund’s objectives.
If successful, the initiative could redefine how educational institutions in Eswatini finance their operations, shifting from survival-driven budgeting to growth-oriented investment planning.
For the UNESWA community, the signing represents more than a formal agreement; it signals a renewed commitment to securing the institution’s future through strategic partnerships, financial innovation, and global expertise.
In closing remarks, Simelane stated that the agreement is not just about funding; it is about building a sustainable institution that will continue to serve the nation long after we are gone.