Finance Minister appoints New Board Chairman for FINCORP

The Minister of Finance, Hon Neal Rijkenberg, has announced former Eswatini Electricity Company (EEC) Managing Director, Mr. Meshack Kunene as the new Chairman of the Eswatini Development Finance Corporation (FINCORP) Board.  

Kunene is a veteran engineer with perfect credentials and vast experience, especially in the operations of public companies having worked for 40 years at EEC where he held various positions which include technician, planning engineer, distribution manager, general manager operations, and managing director. 

Speaking when introducing Kunene to the FINCORP Group Board of Directors, and Senior Management, the minister said he is confident that Kunene is the right man for the job and will steer FINCORP to greater heights.  

 “As government, we believe that the expertise, reputation, and experience that he has accumulated over the years while he was running a very large parastatal in the country with excellency, makes him the right man for this job,” he said.    

Speaking about his appointment, Kunene who is now retired said this is a big challenge for him both at a personal and professional level, especially because FINCORP has been quite successful over the past years.  

“However, I am very happy that I have people who know the job. Mine is to focus on steering the organization in the right direction. What is important is for the company to continue delivering on its founding mandate of economically developing Emaswati through the provision of meaningful access to credit, job creation, and poverty alleviation. I am happy that I have a good team around myself, people who know what they are doing, and are dedicated to their work,” he said.  

“I know that I will be properly inducted. I will also be reading a lot of material that I will be given so that I know exactly where FINCORP is, where it wants to go, and how will it get there. One of the good things that I already know is that the corporation has a new five-year strategy in place. Mine is to make sure that the strategy is being followed. I will be asking the right questions, remain open-minded and I am willing to be agile and adaptive,” he further stated.  

Mr. Wandile Mathonsi who spoke on behalf of the Board Members welcomed Kunene to the board. He further disclosed that they are happy to add an engineer to the interesting skillsets of the current board members. Mathonsi said Kunene came at an opportune time when the corporation is preparing to start financing solar energy projects, therefore, his experience as an engineer will come in handy. 

Meanwhile the Busangani Mkhaliphi the Director PEU informed those in attendance that the Minister has a busy schedule at all times yet he remained accessible and available whenever he is required.  

About FINCORP 

FINCORP was launched by His Majesty King Mswati III in November 1995. Its main objective is to economically develop Emaswati through the provision of accessible financial services. FINCORP is a registered private corporate with two shareholders namely, The Government of Eswatini and Tibiyo Taka Ngwane with shares of 80% and 20%, respectively.  

In recent years, FINCORP has diversified its business by setting up two subsidiary companies namely; First Finance Company in 2010, which offers General Purpose Finance, and Finsure Insurance Brokers which was upgraded in October 2021 to be an independent insurance company called Finsure Assurance Limited which offers insurance products.  

ENDS. 

Issued by;

Name: Manqoba Bonginkosi Makhubu

Position: FINCORP Group Brand Development and Communications Officer

Cell Number: 7670 4606

Telephone Number: 2409 2000

Email: bonginkosim@fincorp.co.sz