Mbabane – The Financial Services Regulatory Authority (FSRA) has recovered E111.5 million from two entities linked to the affairs of Status Capital Building Society (SCBS), as the institution’s curatorship and liquidation proceedings continue.
The recovery includes E35 million from Status Asset Management Proprietary Limited (SAM) and E76.5 million from Swaziland Debt Factoring Firm (Pty) Ltd (SDFF), the FSRA said in an update issued to investors, depositors and creditors.
The E76.5 million was recovered through a settlement agreement between SCBS and SDFF. The agreement followed a review of the affairs of SCBS by the Curator and was subsequently made an order of court.
SDFF had owed SCBS E84 million, with the remaining E7.5 million due to be paid by the end of July 2026.
The FSRA said it continued to monitor the settlement agreement to ensure that the outstanding balance was paid on time.
The recoveries were made during the curatorship of SCBS, which was placed under regulatory intervention after an on-site inspection and desk-based risk assessment found that the building society could no longer continue operating in a safe and sustainable manner.
In terms of Section 71 of the Financial Services Regulatory Authority Act, 2010, the FSRA appointed Mr Bim Dalde Silva as Curator to take control of SCBS’s affairs and implement measures in the interests of depositors, creditors and the broader financial system.
The Curator’s review of SCBS’s affairs uncovered matters requiring further regulatory and legal attention, according to the FSRA.
Meanwhile, the liquidation process is still before the courts.
The liquidation application was heard on December 24, 2025, when the court granted a provisional liquidation order and appointed Tygerberg Trustees (Pty) Limited as the Provisional Liquidator of SCBS.
The matter remains pending before the courts and the FSRA as the final judicial determination is awaited.
The Authority said recovered assets had been placed with the Central Bank of Eswatini and reputable asset management firms to preserve their value.
These assets will, subject to the applicable legal and insolvency processes, form part of the estate available for distribution to creditors.
The FSRA said it would continue overseeing the Provisional Liquidator’s administration of SCBS affairs and provide stakeholders with factual updates on developments.
It has advised investors, depositors and creditors to rely on its official communication channels for verified information concerning the curatorship and liquidation proceedings.
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