10/10/2025
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The Central Bank of Eswatini (CBE) has granted a provisional banking licence to SBS Bank Eswatini (SBSBE), paving the way for the Swaziland Building Society (SBS) to transition into a medium-sized commercial bank. The move marks a significant milestone for Eswatiniβs oldest and longest-standing homegrown financial institution, which has operated as a mutual building society since 1962. The transformation will enable SBS to broaden its services beyond the traditional building society model and play a greater role in the nationβs banking sector. According to the CBE Governor, Dr. Phil Mnisi, the decision follows a comprehensive review process conducted in line with the countryβs banking regulatory framework. SBSBE submitted its application to the Central Bank on 30 June 2025, after which a detailed evaluation confirmed that the institution met all necessary prudential and regulatory standards to qualify for a provisional licence.