Manzini – Ubombo Sugar Managing Director (MD), Muzi Siyaya, has raised the alarm about the nation’s deeply ingrained culture of nepotism, political appointments, and complacent leadership, cautioning that institutions run the risk of losing their legitimacy and efficacy in the absence of immediate reform.
Speaking at the “Highlights of King V: Eswatini Response” REDI Governance Dialogue, Siyaya called on the public and commercial sectors to adopt the values of renewal, ethics, and openness found in the upcoming King V Draft Code for Corporate Governance.
Calling for a “new era of accountability”, Siyaya challenged the culture of appointing directors based on personal connections rather than competence.
“Too often, board seats and senior roles are awarded not on merit but on proximity to power, friendship, or influence,” he said. “This culture weakens institutions, discourages qualified professionals, and erodes public confidence in governance.”
He praised the Public Enterprise Unit (PEU) for creating a nationwide database of competent individuals for board appointments, describing it as an important change that encourages openness, diversity, and selection based on merit.
Siyaya claims that King V prioritises moral and capable leadership over mere acquiescence. In order to provide supervision with new viewpoints, its first pillar, Board Tenure, Renewal, and Appointments, suggests a three-term limit.
“Effective governance requires independence of mind, sustained through structured renewal,” he emphasised. “But renewal alone is not enough; we must also confront the deeper culture of cronyism that has crept into boardrooms.”
He cautioned against the reappointment of the same individuals to multiple boards, arguing that “when you sit on more than five boards, you cannot be effective.”
“It’s not just a way of earning a living; it’s a responsibility that demands diligence and preparation,” he added.
Siyaya further warned of a growing trend where some boards overstep their oversight role and interfere with management functions, blurring the lines of accountability.
“King V reminds us that boards govern, management executes. Oversight must guide and empower, not paralyse,” he said. “A respectful partnership between boards and management is vital — one built on trust, accountability, and clearly defined boundaries.”
Drawing lessons from major corporate collapses such as Steinhoff and Eskom in South Africa and local scandals like Status Capital and Ecsponent, Siyaya underscored that weak governance and patronage networks are at the heart of institutional failure.
“At the core of all these failures lie two common issues: oversight and competence,” he warned. “Boards that grow too comfortable lose their critical edge. Oversight without independence becomes endorsement.”
Siyaya concluded by urging Eswatini to institutionalise merit-based appointments and empower directors who can think independently, ask difficult questions, and make informed decisions.
“We must entrench merit-based appointments, maintain professional distance between boards and management, and build the courage to ask hard questions, especially when the answers are uncomfortable,” he said. “Competence means having people who can challenge management constructively and steer institutions toward long-term sustainability.”
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