The Minister of Finance, Neal Rijkenberg, officially inaugurated the new Buhleni Nedbank (Eswatini) Limited Branch today. Nedbank, one of Eswatini’s oldest banks, took over operations from Standard Chartered Bank, which established its presence in the country in 1973.
Minister Rijkenberg expressed the government’s satisfaction with Nedbank Eswatini’s consistent strong financial performance, highlighting that the bank has paid a dividend of E103m to the Eswatini government since its establishment in the Kingdom.
The Minister acknowledged the significant contributions made by the bank, including the corporate taxes paid annually, which play a vital role in enabling the government to provide essential services to the economy. These services include infrastructural development, healthcare, education, and meeting other socio-economic needs of the country.
Minister Rijkenberg emphasized that the government views Nedbank as a valuable development partner due to its listing on the Eswatini Stock Exchange and the government’s significant shareholding in the bank.
He also commended Nedbank’s alignment with the government’s service delivery objectives, stating that the bank’s presence brings services closer to the people, in line with the government’s policy.
Felicia Dlamini-Kunene, Deputy Governor of the Central Bank, highlighted the responsibility of banks, including Nedbank Eswatini, to provide employment opportunities for emaSwati. She expressed hope that the repurposed Buhleni branch would generate job prospects for the youth, particularly young graduates from the area.
The launch of the new branch and the collaboration between the government and Nedbank Eswatini underscore the bank’s role as a partner in the country’s development, contributing to economic growth and empowering the local community.