By Delisa Magagula
In a decisive move to strengthen governance within the Eswatini Multi-Purpose Co-operative Union (ESWAMCU), the Ministry of Commerce, Industry, and Trade has officially unveiled the newly appointed ESWAMCU Board.
The announcement was made today during a press briefing held at the Ministry’s boardroom, where Minister Manqoba Khumalo and the Commissioner for Co-operatives Development detailed the strategic leadership changes.
The restructuring follows a forensic audit conducted by SNG Grant Thornton, whose findings were presented at a Special General Meeting (SGM) on February 7, 2025.
As a result of the audit’s revelations, the Office of the Commissioner exercised its mandate under the Co-operative Societies Act, 2003 (Amended) to dissolve both the Management and Supervisory Committees.
An interim committee was appointed to oversee ESWAMCU’s operations from February 7, 2025, to February 28, 2025.
Now, a new Board has been established, tasked with leading the organization until September 29, 2028, under the direct administration, management, and supervision of the Ministry.
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Addressing the gathering, Minister Khumalo emphasized the significance of the new leadership in restoring confidence within the cooperative sector.
“Today marks a new chapter for ESWAMCU. Following the forensic audit, we have taken decisive steps to ensure transparency, accountability, and responsible governance.
The newly appointed Board consists of experienced professionals who will steer the Union toward sustainability and growth.
Their leadership will be instrumental in safeguarding the integrity of cooperative principles in Eswatini.†Said the Minister.
He further assured stakeholders that the Ministry would maintain oversight throughout the three-year tenure of the new Board.
The newly appointed Board members bring a wealth of experience from the cooperative sector and are expected to implement policies that align with ESWAMCU’s mission and vision. The leadership structure is as follows:
Executive Committee:
President:Â Thamsanqa Phakathi
Vice President:Â Mhlonipheni Msibi
Secretary: Sipho I. Dlamini
Supervisory Committee:
Chairperson:Â Sandile Gwebu
Secretary:Â Mandla Masuku
Member: Sipho T. Kunene
The Ministry has expressed confidence that the Board will act in the best interests of ESWAMCU’s members, fostering financial prudence and institutional integrity.
As he concluded the briefing, Minister Khumalo extended his congratulations to the newly appointed members.
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“We trust that this Board will uphold the highest standards of governance and operational excellence. Their expertise is crucial in ensuring that ESWAMCU continues to thrive and contribute meaningfully to the cooperative movement in Eswatini.â€
With this restructuring, ESWAMCU embarks on a path of renewal, promising stronger governance, increased accountability, and a commitment to cooperative development.
