ORBITUARY: Stanley Musa Nhlanhla Matsebula

Mr Stanley Matsebula was Group Chief Executive Officer (CEO) & Managing Director of Swaziland Savings and Development Bank (Swazibank) since 2000.

As CEO/ MD of Swazibank, he held executive control of the bank, and oversaw that strategic and operational plans were implemented timeously, while closely monitoring the operations (inclusive of projects) of the bank.

At Swazi bank, Mr Matsebula was faced with the daunting task to turn around the institution which was on the verge of closure. Non-performing loans were in excess of 80% of total loan portfolio. Bank had run out of cash and no longer meeting regulatory requirements. Another challenge was to ensure that both development and commercial mandates of the bank were successfully carried out.

The bank was established in 1965 to finance development projects and, at the same time, operates as a commercial entity. The bank has accumulated assets worth SZL1.7billion to date from SZL300m in 2000 despite not receiving Government funding since 2003.

The bank boasts the largest number of customer base (130000) in the industry and Mr Matsebula attributed this to the innovation and ability to tailor make products to suit the diverse needs of customers. Leadership and teamwork were also critical ingredients. Net deposits have grown from SZL 143m to over SZL1billion to date.

The Bank has won many awards under his stewardship, and he also personally won the PMR South Africa Magazine Diamond Arrow Award (Most Admired Business person in Swaziland) for 2008 and 2009. In 2012 he was voted the world’s “Best Manager of the Year” by European Business Assembly, Dublin.

Prior to joining Swazibank in 2000, Mr Matsebula worked for the Free State Government in the Department of Environmental Affairs, Tourism & Conservation as    Department Head (1997-2000) and Gauteng Government as Chief Director of Economic Affairs (Chief Economist) (1995-1997), where he was responsible for promoting economic development in Gauteng through the formulation