Eswatini Daily News

By Ncaba Ntshakala

Eswatini Bank, the nation’s homegrown financial institution, has announced plans to launch agency banking across the country by the end of August.

The major development was revealed by the Managing Director, Nozizwe Mulela, during the Customer Networking Day held at the bank’s Matsapha branch.

Mulela highlighted that the previous financial year, 2023/24, was particularly busy as the bank undertook numerous improvements.

One of the key initiatives was the launch of ShareSha, a digital platform designed to facilitate easy payments and bulk transactions for both customers and non-customers of Eswatini Bank.

ShareSha, embedded within the Nomakuphi App, offers extensive features to enhance user convenience.

In addition to digital advancements, Eswatini Bank has made substantial investments in security, particularly cyber security.

ALSO READ: EswatiniBank in E42.9 million loss for year ended March 31, 2024

Mulela emphasized the importance of robust cyber security measures in the banking sector where she stated that further investments in IT systems are planned for this year.

“Banks are run by systems, which are not cheap,” she remarked as she expressed the financial commitment required to maintain secure and efficient banking operations.

The highlight of Mulela’s address was the announcement of a milestone in the bank’s agency banking initiative.

This new service will allow emaSwati to use ShareSha for accessing funds at various agents, including shops and other outlets which will enable deposits and cash withdrawals without the need to visit an ATM or a branch.

Mulela expressed confidence that this expansion of their footprint through agency banking would significantly enhance accessibility for customers across the country.

Eswatini Bank is also investing in the costs associated with new swiping machines after recalling previous ones that developed issues.

Executive Manager Business Banking, Druce De Jesus Sargo speaking during the event.

These machines will facilitate payments for goods using various platforms such as e-mali and MoMo from Eswatini’s telecommunication companies.

Furthermore, the bank is expanding its Foreign Exchange (Forex) Department to enable clients to purchase goods abroad more seamlessly.
During the event, other key speakers included Druce De Jesus Sargo, the Executive Manager of Business Banking, Gabsile Matse, Manager of SMME, Mduduzi Hlophe, Senior Manager of Products & Channels, and Manager of Insurance Business.

ALSO READ: Central Bank of Eswatini marks 50 years of excellence, shares insightful history

Each provided insights into their respective areas of expertise and the bank’s ongoing initiatives to enhance service delivery to their clients.

Moreover, Mulela further urged emaSwati to utilize the bank’s services, highlighting its strong credit facilities that support local growth through loans.

She stressed the importance of repaying loans to ensure the bank’s continued operation and ability to assist more customers.

Zamba Dube who spoke on behalf of the customers.

Customer representative Zambi Dube expressed gratitude towards the bank where he commended its customer-friendly approach and dedication to customer centricity.

Dube shared his positive experiences with the bank, noting that both small and large businesses receive equitable treatment and beneficial loans that have contributed to their growth.

Other activities done during the event was touring their Matsapha branch which has been moved from the Mahhala Complex to the newly built Matsapha Lifestyle centre.

The tour was led by the Branch Manager Nhlanhlakwabanayo Mkhonta who urged emaSwati to visit the bank so that they can explore all the great things that they offer as a bank.

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