Together with the Financial Services Regulatory Authority (FSRA), the Central Bank carried out an relating to the Swaziland Women Economic Empowerment Trust (SWEET) and SWEET Micro Finance (SMF).
Together with the Financial Services Regulatory Authority (FSRA), the Central Bank carried out an investigation into the circumstances leading to the closure of the two entities. Reports were compiled and presented to the appropriate authorities for consideration and attention. At present, the re ports are still being reviewed by the appropriate authorities and therefore, remains confidential.
However, and in order to dispel certain incorrect conclusions, the Bank wishes to advise the general public on the following:
1. SWEET and SMF were corporate entities, with a governing structure and management. The governing structure does not include the Queen Mother and her association with these entities, was purely ceremonial.
2. Whilst the idea behind the establishment of these two …