MBABANE – The Eswatini Stock Exchange (ESE) has announced the appointment of a new Board of Directors and the establishment of a Market Committee.
According to the press statement issued yesterday, this marks a major milestone in strengthening governance and driving the growth of the country’s capital market.
The new Board was appointed following a rigorous selection process and includes Financial Services Regulatory Authority (FSRA) Chief Executive Officer Ncamiso Ntshalintshali and Eswatini Competition Commission Chief Executive Officer Muzi Dlamini.
Dr Melvin Khomo, who was appointed Chairman in August 2024, will continue in his role of providing leadership and continuity.
Dr Khomo is also heading the Financial Markets Department at the Central Bank of Eswatini (CBE).
Other members of the Board include Thabiso Masina, Precious Nkambule and Lomagugu Ntsakala, bringing expertise in finance, investment and corporate leadership.
The ESE confirmed that the Board will provide strategic leadership, policy guidance and oversight in steering the exchange towards fulfilling its mandate of developing and promoting a dynamic capital market in Eswatini.
Alongside the Board, a Market Committee has also been established to oversee the day-to-day operations of the exchange, including monitoring market activities, ensuring compliance with listing requirements and protecting investor interests.
The ESE stated that these appointments form part of efforts to strengthen corporate governance, ensure transparency and create a robust environment for investors and issuers.
The appointments come at a time when the ESE is introducing significant innovations aimed at broadening the country’s capital markets.
Speaking during a strategic workshop hosted at the Happy Valley Hotel last month, ESE Board Chairperson Dr Khomo announced that the introduction of Exchange Traded Funds (ETFs) would transform the local investment landscape.
Dr Khomo described the potential for ETFs in Eswatini as ‘significant – from enabling small investors to access broader markets, to offering institutional investors new portfolio tools and providing issuers with a flexible platform for innovation and growth.’
He explained that ETFs represent more than just a new financial product, calling them a strategic turning point for Eswatini’s capital markets. According to Dr Khomo, ETFs will broaden participation, attract foreign investment and deepen regional integration.
He further emphasised the inclusivity ETFs bring:
- Retail investors: Affordable access to diversified portfolios.
- Institutional investors: New instruments for risk management and portfolio diversification.
- Issuers: Flexible opportunities to structure innovative investment products.
Dr Khomo also highlighted that the ESE’s alignment with the African Securities Exchanges Association (ASEA) harmonised framework was positioning Eswatini for regional collaboration and cross-listings.
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