Mbabane – Status Capital Building Society has postponed its Annual General Meeting (AGM) amid hopes from investors of recovering their investments.
Originally set for Friday, May 9, 2025, the AGM has been deferred until further notice. This postponement comes as Status Capital, currently under curatorship, reportedly received E35 million following legal actions in South Africa against one of its parties. This development has sparked optimism among Emaswati investors that their interests will be prioritised.
However, Status Capital has previously stated that approximately E100 million of investor funds have been misappropriated, raising concerns.
Investors who anticipated clarity on the company’s situation during the AGM will need to wait, as Status Capital announced the decision to delay the meeting in accordance with recent regulatory guidelines.
The entity explained that being under curatorship involves ongoing efforts to recover funds from debenture holders. They are also expecting a curatorship meeting in June to update members on progress.
“The postponement allows us to ensure that all procedural requirements are fully met and that our processes are transparent and in the best interest of our members,” the statement read.
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