By Mbongeni Ndlela
MBABANE – Minister of Commerce, Industry and Trade, Manqoba Khumalo, has today introduced a new Board of Directors for the Eswatini Multi-purpose Co-operative Union (ESWAMCU).
This development follows a Special General Meeting held on February 7, 2025, which was convened in response to the findings of a Forensic Audit conducted by SNG Grant Thornton.
The audit had revealed significant issues within the co-operative’s management, prompting decisive action. As per the Co-operative Societies Act, 2003 (Amended), the management and supervisory committees were dissolved to facilitate a fresh start for the organization.
For the next three years, ESWAMCU will operate under the administration and supervision of the Office of the Commissioner for Co-operatives Development. This move is aimed at restoring confidence, enhancing accountability, and steering the organization towards sustainable growth.
New ESWAMCU Board Members:
- Thamsanqa Phakathi – President
- Mhlonipheni Msibi – Vice President
- Sipho I. Dlamini – Secretary
- Sifiso Mhlongo – Treasurer
Supervisory Committee:
- Sandile Gwebu – Chairperson
- Mandla Masuku – Secretary
- Sipho T. Kunene – Member
Minister Khumalo expressed optimism that the newly appointed board, with its blend of experience and commitment to cooperative principles, will revitalize ESWAMCU and fortify its role in community development. He further emphasized the government’s commitment to promoting transparency and good governance within cooperatives across the nation.
The newly appointed leadership is expected to prioritize financial accountability, member engagement, and strategic growth to ensure that ESWAMCU continues to serve its members effectively.
This positive step signals a new era of trust and efficiency for ESWAMCU, reinforcing the cooperative movement’s contribution to Eswatini’s socio-economic development.
