…Health Fund Expands Member Benefits And Strengthens Governance
BY MBONO MDLULI
MBABANE – EswatiniMed has announced a major financial recovery after recording a surplus of E42.6 million for 2024, marking a significant turnaround from the E14.1 million deficit reported the previous year.
The positive results were presented during the Fund’s Annual General Meeting held at Hilton Garden Inn, where members also heard details of new initiatives aimed at making healthcare more affordable and accessible.
The latest financial performance reflects what leadership described as a period of stabilisation, renewal and disciplined management following a challenging chapter characterised by governance difficulties and operational pressures.
Financial Position Improves Significantly
According to figures presented at the AGM:
• Insurance income increased to E628 million
• Accumulated funds rose to E582.8 million
• Short-term deposits climbed to E189.9 million
• The statutory reserve ratio improved from 15 per cent to 22 per cent
Observers said the stronger reserve position signals improved financial resilience and enhanced capacity to meet future healthcare obligations.
Retired Principal Officer Peter “Samora” Simelane, who returned at the invitation of the Board to present the annual report, attributed the improved performance to:
• Tighter clinical claims auditing
• Stronger cost containment measures
• Disciplined financial management
• Improved operational oversight
New Pharmacies To Reduce Medicine Costs
One of the most significant announcements for members was the rollout of four EswatiniMed pharmacies located in:
• Manzini
• Mbabane
• Pigg’s Peak
• Buhleni
The pharmacies are expected to reduce medicine mark-ups from approximately:
• 55 per cent
to:
• 33 per cent
The initiative will also eliminate upfront co-payments for members using the Fund’s pharmacies, helping ease the immediate financial burden faced by many families accessing medication.
Analysts say the move could significantly improve affordability and convenience for members while strengthening the Fund’s long-term healthcare delivery model.
Leadership Highlights Collective Effort
Board Chairman Samuel “Sammy” Dlamini described the recovery as the result of collective effort and discipline from management, staff and members.
“This turnaround belongs to our entire team and our members, whose collective discipline allowed us to weather severe operational headwinds and place EswatiniMed on a much firmer footing,” he said.
The AGM also highlighted ongoing governance renewal efforts aimed at strengthening the Board through the inclusion of experienced corporate leaders from sectors such as:
• Finance
• Telecommunications
• Insurance
• Risk management
Some of the proposed appointments are expected to be finalised during an upcoming Special General Meeting.
Major Role in Healthcare Sector
EswatiniMed remains one of the country’s most influential healthcare institutions, with assets exceeding:
• E3 billion
The Fund also owns the Ezulwini Private Hospital, valued at more than:
• E400 million
Observers say the institution continues playing a central role in Eswatini’s private healthcare system through medical funding, healthcare access and infrastructure investment.
Focus Shifts From Recovery To Growth
The overall message emerging from the AGM was that EswatiniMed is now shifting from recovery towards long-term growth and sustainability.
With stronger financial reserves, expanded member services and lower medicine costs, leadership indicated that the Fund is positioning itself to deliver improved healthcare support and greater peace of mind for members and their families in the years ahead.
