Mbabane – The Financial Services Regulatory Authority has placed Status Capital Building Society under provisional liquidation following an order of the High Court of Eswatini that took effect on 24 December 2025.
The FSRA said the decision affects all investors, creditors, staff members and other stakeholders of Status Capital Building Society. The move places the institution under the control of an independent provisional liquidator while the court considers whether full liquidation is necessary. The regulator described the step as a protective measure intended to safeguard stakeholder interests and ensure orderly handling of the society’s operations and assets.
According to the FSRA, the application to the High Court was made under powers granted by the Financial Services Regulatory Authority Act of 2010. The authority acted after reviewing circumstances set out in an affidavit deposed by its chief executive officer, together with findings from the curatorship process. These findings showed that Status Capital Building Society was not a going concern and could not continue operating as a viable financial institution.
The regulator further stated that the society’s conduct of business was not in line with its licensing conditions and regulatory obligations. It also cited significant irregularities and financial mismanagement, which it said made formal liquidation proceedings necessary to protect the interests of investors and creditors.
The High Court appointed Tygerberg Trustees Proprietary Limited as the provisional liquidator of Status Capital Building Society. The firm will assume full responsibility for managing the society’s affairs, including controlling its operations and assets, conducting investigations, ensuring impartiality and complying with all applicable legal and regulatory requirements. The provisional liquidator is expected to work closely with the FSRA and submit regular reports to the court to ensure accountability and transparency throughout the process.
The FSRA acknowledged the concerns of all affected parties, including investors, creditors and staff members. It said all stakeholders would be formally addressed by the provisional liquidator regarding the status of the society and the way forward.
The authority said it remains committed to protecting investors and consumers in Eswatini’s financial services sector, maintaining market integrity and public confidence, and ensuring accountability and transparency in the resolution of matters relating to Status Capital Building Society. It added that it will continue working with the court appointed provisional liquidator, monitoring repayments in line with signed settlement agreements and engaging with relevant stakeholders to achieve a lawful and equitable outcome for investors and depositors.
The FSRA noted that liquidation processes require time and patience and urged all stakeholders to allow the provisional liquidator to carry out the work thoroughly and professionally. It said it will continue to exercise its full supervisory and enforcement mandate to uphold financial stability and consumer protection in accordance with the Financial Services Regulatory Authority Act of 2010.
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