Asihlumisane Savings and Credit Cooperative Society Ltd, trading as HLUMA, has declared a 12 per cent dividend for the financial year and urged members to deepen their participation as the SACCO marks 31 years of service.
The announcement was made during the 31st Annual General Meeting where the Board presented the Chairperson’s Report, audited Financial Statements, the Supervisory Committee’s Report and a Special Report to members.
Opening the meeting, HLUMA Chairperson Sigcino Masuku said the 12 per cent dividend was a direct result of the SACCO’s continued performance and the Board’s commitment to returning value to members. 
“The dividend reflects our financial position and the focus we have placed on member benefits,” Masuku said.
Members responded with applause, noting that the payout comes at a time when household budgets remain under pressure.
The dividend is in line with HLUMA’s policy of distributing surpluses to members in proportion to shareholding, subject to statutory and regulatory requirements.
Eswatini Savings and Credit Cooperative Organisation President Khaya Mavuso thanked the Board for its dedication and commended members for their loyalty.
He said sustainability in the cooperative sector depends on consistent member action.
Mavuso stressed the need for capacity building and benchmarking, and urged the leadership to keep improving operations.
He called on members to save consistently, borrow responsibly, and support SACCO initiatives.
He also appealed for stronger backing for the Board and praised Correctional Services for driving leadership renewal through the election of younger board members.
On infrastructure, Mavuso said discussions on the SACCO building would continue. A detailed report will be circulated once ownership issues have been clarified.
National Co-operatives Federation of Eswatini Secretary General Ndabenhle Dlamini commended Asihlumisane for complying with relevant laws and policies.
He encouraged members to engage the Board directly with expectations and suggestions, and said proper follow-up was needed to ensure those priorities are acted on.
Dlamini updated members on the proposed Co-operative Bank, stating that discussions with the Central Bank of Eswatini are ongoing and that the bank is expected to open soon.
He welcomed HLUMA’s “Khulanatsi” programme, describing it as an important initiative that has helped sustain the SACCO over the years by building a savings culture.
Representing the Commissioner of Co-operative Development, Acting Senior Cooperatives Officer for the Manzini Region Sipho Kunene praised developments across HLUMA’s departments.
However, he raised concern over members exiting the SACCO. Kunene urged non-members to join, saying increased participation is essential for continued growth.
He also called on parents to enrol their children in Khulanatsi. “Youth participation is key to the institution’s long-term sustainability,” he said.
Speaking on behalf of the Acting HMCS Commissioner General, Manzini Regional Commissioner Senior Assistant Commissioner Zodwa Maseko congratulated Asihlumisane on 31 years of existence and on holding its 31st AGM.
Maseko commended the Board, management, Supervisory Committee and membership for securing an unqualified audit opinion.
She described it as evidence of sound financial management, accountability and good governance, but warned against complacency. “This should be a starting point, not the final destination,” Maseko said.
She reminded members that the SACCO belongs to them and urged active involvement through consistent saving, responsible borrowing, timely loan repayments, attendance at AGMs, and support for SACCO services. She also called on members to hold leadership accountable constructively.
Maseko said the SACCO must continue strengthening governance, financial discipline, internal controls, credit management and recovery, regulatory compliance and transparency. She assured members of continued support from the Commissioner General’s Office and called for unity around the goal of leaving Asihlumisane stronger than it was found.
The AGM noted all reports presented and reaffirmed the 12 per cent dividend declaration. No changes were made to membership requirements.
Leadership said monitoring of SACCO performance will continue, with emphasis on governance standards and financial discipline.
The Board was mandated to finalise and circulate a detailed report on the SACCO building once ownership matters are resolved.
On membership, officials directed that recruitment and retention efforts be intensified, with specific focus on youth through the Khulanatsi programme.
Asihlumisane Savings and Credit Cooperative Society was established 31 years ago and primarily serves members in the public service sector. The SACCO provides savings, credit and member education services.
Cooperative officials said SACCOs remain a key vehicle for financial inclusion in Eswatini.
They noted that future growth will depend on member participation, adherence to governance principles, and alignment with regulations issued by the Commissioner of Co-operative Development and the Central Bank of Eswatini.
