We Remain Committed To Converting To A Fully fully-fledged Commercial Bank

The Swaziland Building Society continues to be relentless in its pursuit of converting the Society into a fully-fledged commercial bank.

This was revealed by the Society’s Managing Director (MD), Mbali Sibanyoni during the official launch of the SBS Mobile App and Online Banking service platform, which took place at Asakhe House, SBS’s headquarters.

She said they remain highly optimistic that the Society will eventually become a fledged commercial bank.

“The requisite preparations and discussions pertaining to the conversion are underway and what we are launching today goes to prove, to a certain extent, that the Society is ready to be transformed to a bank.”

She added. “Such a milestone would undoubtedly bring positive economic value to shareholders, grow the commercial banking sector, and have a positive influence on the country’s economic turnaround strategy.”

Sibanyoni noted that the conversion would also strengthen the Society’s relations with key stakeholders such as regulators, government, creditors, service providers, consultants, employees, unions the Society’s valued customers.

Worth noting is that there have been questions from various corners of the country on the issue of conversion. The country’s outgoing Minister of Finance, Neal Rijkenberg has previously stated that preparations are progressing well for the conversion.

“We are at the last mile of the conversion, we just have to knuckle down and ensure that we see this through. Our promise as the government is that we are fully behind this move, and hopefully, this process will be completed soon,” the outgoing Minister noted during the official opening of the SBS branch situated at the former MICA premises opposite Eswatini Beverages earlier last year.

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