MBABANE – Reverend Senzo Hlatshwayo, who was appointed the Board Chairperson of the Financial Services Regulatory Authority (FSRA) almost three years ago, has stepped down from the position.
The latest developments were confirmed by Minister for Finance Neal Rijkenberg.
It has been gathered that the reverend stepped down, citing personal reasons.
This is said to have happened while he was away on an international assignment in Cape Town with other senior government officials and leaders of parastatals.
Notably, the news of his stepping down was confirmed on the same day when a question was posed in Parliament regarding his position.
Senator Stukie Motsa submitted that the reverend’s name has been mentioned on several platforms in relation to the ongoing online gambling scandal involving some individuals of Asian origin.
Motsa asked why the FSRA had not issued a statement.
This, however, is not to suggest that the stepping down of the reverend has to do with the allegations.
Hlatshwayo was appointed Chairperson in August 2023 by Minister for Finance Rijkenberg.
The appointment came when he already had many roles, including that of leading a congregation.
He came in with an experience which involved leading in Boards of non-governmental entities.
He boasts three Masters Degrees, one Masters in Development Studies and another in Public Development and Management.
Lastly, he holds a Masters in Journalism and has also been trained in corporate governance.
Notably, the Financial Services Regulatory Act, 2010, stipulates that a member of the Board may resign from office on giving notice by writing to the minister.
In terms of removal from the office, the Act stipulates that the minister may, by written notice, remove a member from office if the member is disqualified in terms of Section 9.
Section 9 stipulates cases where a member of the Board becomes ineligible.
It also states: “Where the chairperson of the Board or the chief executive officer is removed from office as contemplated in subsection (1), the authority shall publicly disclose the reason for such removal.”
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