Mbabane – The Bunye Betfu Buhle Betfu Savings and Credit Cooperative Society Limited (SACCO) is under regulatory intervention following concerns relating to its governance and operations.
The Commissioner for Cooperatives, in collaboration with the Financial Services Regulatory Authority (FSRA), announced the intervention in an update issued on Wednesday, 23 September 2026.
Acting Commissioner for Cooperatives Bongani Maziya said the intervention followed concerns identified through regulatory processes, including matters raised in two forensic audit reports conducted by PricewaterhouseCoopers (PwC) and SNG Grant Thornton.
The regulatory authorities said their intervention was aimed at strengthening governance at the SACCO, promoting operational stability, protecting members’ interests and supporting the cooperative’s long term sustainability.
Administrative processes concerning oversight of the society’s day to day operations are currently being finalised.
Once the processes are complete, the Commissioner for Cooperatives will convene a Special General Meeting (SGM) for members.
The meeting will provide members with information on the regulatory intervention, the proposed roadmap and the way forward for the cooperative.
It will also address matters relating to the payment of dividends and interest on savings, in accordance with applicable legal and regulatory requirements and information available at the time.
Members have been urged to remain calm and patient while cooperating with the regulatory authorities during the intervention.
The authorities said the process was intended to strengthen accountability, transparency and confidence in the institution.
Further communication on the Special General Meeting and other developments will be issued through official channels.
The update was issued by Maziya on behalf of the Ministry of Commerce, Industry and Trade.
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