MBONGISENI NKAMBULE IS NEW GM ESWATINI POST

MBABANE – Experienced economist Mbongiseni Nkambule has been appointed the new General Manager of Eswatini Post – a division of the Eswatini Posts and Telecommunications Corporation (EPTC).

His last place of employment was with the Central Bank of Eswatini, where he held the position of General Manager Financial Regulation. He is a financial economist who studied finance both at undergraduate and postgraduate levels.

He attained a number of postgraduate finance qualifications from ACI in France, Wits Business School and the South Africa Institute of Financial Markets, among others.

Nkambule completed a Bachelor of Business Administration, majoring in Finance, at Solusi University, Zimbabwe in 2001. He capped this with a Masters in Finance and Investments from the University of Witwatersrand in South Africa.

EPTC Corporate Communications Manager Nqobile Magagula described Nkambule as an avid student of finance whose latest interest is in the new phenomena called Financial Technology, widely known as Fin Tech.

“We wish to take this opportunity to welcome Nkambule in his new role at EPTC as General Manager Eswatini Post and wish him a blessed and favourable stay within the organisation as he assists in growing it in leaps and bounds,” Magagula said.

Nkambule expressed excitement at joining the EPTC executive team and his gratefulness for the opportunity to learn from his colleagues.
He said his hope was to assist EPTC to leverage on its technology platforms and deliver financial services to rural Eswatini and assist in the national financial inclusion agenda. “My contribution would mainly be, but not exclusively, to the migration and unbundling of the organisation by looking at other sectors to diversify income stream and modernising the postal services space,” the new GM said.

Focus on financial servicers
He highlighted that he would work specifically at growing the financial services side of the business, which he hopes is going to contribute to the bottom line of EPTC.
“Globally we have seen technology companies moving towards financial services, which the organisation has embraced, and that is also an area of expertise that I am looking forward to tackling with utmost zeal and diligence,” Nkambule said.
His work experience spans from whence he started working in the NGO sector as a Business Consultant with LULOTE (BMEP) for about two years; thereafter he joined the banking sector where he worked for Nedbank as Dealer in the Treasury Department before joining Central Bank of Eswatini.
While working at the Central Bank of Eswatini, he was seconded to the Rand Merchant Bank where he spent about a year in Johannesburg before re-joining the Central Bank of Eswatini.
Subsequent to that, he moved to the Financial Services Regulatory Authority (FSRA) as a Registrar of Capital Markets mandated to set up the capital markets division. In terms of his experience, it is everything finance; from Investment Management or Portfolio Management, Corporate Finance, Financial Regulation, Capital Markets, Money and Banking, Financial Technology and more.
During his previous job at the Central Bank of Eswatini as GM Financial Regulations and Manager Financial Markets, he was responsible for managing the country’s reserves and regulating all the local banking and credit institutions.
This was almost similar to his responsibilities at FSRA, where he was regulating the non-banking institutions such as asset managers, stock exchanges, investment advisors and more. At Eswatini Post, he replaces Phumelela Dlamini who died in a fatal road traffic accident in Middelburg, South Africa, on April 26 last year.  He was returning from EPTC duties in Mauritius.

revamp for Post sector
Meanwhile, Magagula said Eswatini Post had a leading role to play in the advancement of financial inclusion in the economy of Eswatini.
She said they had refashioned themselves into a modern, digitally innovative brand that is one of Eswatini Post’s foremost goals going forward. “This will be done all inclusively without losing touch with the history and legacy that has made Eswatini Post a trusted brand in the Eswatini culture,” she said.
She stated that Eswatini Post had a large physical network with 33 post offices located all over the country and had a good leverage in terms of distribution of services.
 Magagula said using the postal network to deliver financial services was not a new idea as it has been pursued successfully in the region and globally.
“Although the business model of the posts’ financial services has remained unchanged for a long time, we have seen an era whereby the increasing use of digital communication technologies and falling mail volumes has created a great opportunity for businesses such as Eswatini Post to re-think our overall business strategy and diversify our product offerings. As a result Eswatini Post has used its existing network to expand the number of financial services that we offer,” she said.
She added that given the widespread presence of Eswatini Post in rural and poor areas, the organisation had played an important role in providing access points to financial services.
“Eswatini Post continues to leverage on her large physical network to reach the most marginalised citizens of Eswatini by bringing financial services closer to them at an affordable rate,” Magagula said.

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