MBABANE – Swaziland Building Society (SBS) has signed a Partnership Agreement with the International Finance Corporation (IFC).
The agreement is for the provision of advisory services to establish a Small and Medium Enterprises (SME) Unit and digital transformation within the society.
The International Finance Corporation (IFC) is an international financial institution headquartered in Washington, D.C., and a member of the World Bank Group. Established in 1956 as the private-sector arm of the World Bank Group, the IFC provides investment, advisory and asset-management services to support private-sector development in developing countries.
Its goal is to help people achieve better living standards by mobilising financial resources for private enterprises.
SBS Managing Director Mbali Sibanyoni and IFC Regional Director for Southern Africa Claudia Conceicao signed on behalf of their institutions during a ceremony held at the SBS Head Office yesterday.
SBS Chairperson Jethro Ndlangamandla said this agreement reflects a shared confidence in their strategic direction and a mutual commitment to building a strong, inclusive and future-ready financial institution that can meaningfully contribute to Eswatini’s economic development.
“The future of financial services lies in institutions that are resilient, digitally enabled and deeply connected to the real economy. The focus of this partnership on strengthening support to Small and Medium Enterprises and advancing digital capability is both timely and strategic,” he said.
The chairperson further mentions that equipping SBS Bank Eswatini with the right frameworks, capabilities and tools to serve the SME segment effectively is essential to unlocking sustainable growth and broad-based economic participation.
“At the same time, digital transformation will be central to improving access, efficiency and competitiveness in an increasingly dynamic financial landscape,” said Ndlangamandla.
Meanwhile, SBS MD Sibanyoni added: “SBS is on a transitional journey to become a commercial bank. We believe the establishment of the SME Unit and digital transformation will be foundational to the future of the bank.”
“SMEs are important for our economy because they drive job creation, foster innovation, reduce poverty and promote inclusive growth yet they often struggle with finance.”
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