Update on liquidation proceedings – Swaziland Women’s Economic Empowerment Trust

The Central Bank would like to update depositors, members of the public, and various stakeholders on the progress made on the Liquidation exercise of the Swaziland Women's Economic Empowerment Trust (SWEET).

To date, the liquidators, Sakimo Group (Pty) Limited, working in collaboration with the Central Bank, have collated information and have identified certain assets belonging to SWEET and these include both physical and electronic records and funds held at various financial institutions.

The liquidators are in the process of finalizing an account that details the estimated value of SWEET assets and liabilities. It is prudent to point out that this exercise also entails a forensic analysis of SWEET transactions.

At the conclusion of the above exercise, a notice will be issued by the liquidators inviting claimants and/or depositors to lodge their claims in an appropriate format to be accompanied by an affidavit. Thereafter, a rigorous exercise of determining each claim will be undertaken, followed by a distribution of what has been realized to claimants.

The Central Bank and the liquidators are aware of the depositor and public expectations for a speedy resolution of this matter. Therefore, every effort is made to speedily progress the turnaround period for this liquidation exercise.