ENPF CEO Futhi Tembe on leadership, faith and safeguarding the retirement dignity of Emaswati.
When Futhi Tembe stepped into the corner office of the Eswatini National Provident Fund in 2024, she made history as the first woman to lead the institution. Yet for the chartered accountant, the moment was far less about breaking barriers than about embracing stewardship.
Her appointment placed her at the helm of one of the country’s most important financial institutions, responsible for safeguarding the retirement security of more than 177,000 active members and overseeing billions in national savings.
But speaking with calm conviction, Tembe frames the milestone not as a personal victory, but as a continuation of a legacy built over decades by leaders, staff and partners who shaped the Fund into a pillar of stability in the kingdom’s financial architecture.
Grounded in faith, teamwork and a deep sense of public duty, Tembe’s leadership philosophy reflects a quiet but resolute belief: institutions exist to serve people.
At a time when conversations around ethical leadership and social responsibility are increasingly shaping national discourse, she believes the call by Mswati III for agape love offers a powerful moral compass for the country’s future.
In a wide-ranging conversation, Tembe reflects on faith, leadership, gender representation and the historic transformation of the Provident Fund into a National Pension Scheme that could redefine social security in Eswatini.
A MOMENT OF HUMILITY
Tembe recalls that her first day in office was defined less by celebration than by reflection.
“My sentiment was not personal triumph but humility. Before opening a single briefing note, I paused in prayer. I knew I could not carry the responsibility of leading a national institution on my own strength, so I asked God for the wisdom of Solomon and the courage to lead with a servant’s heart.
“For me, this role is not simply a corporate appointment; it is a calling of stewardship. My thoughts quickly turned to the foundation upon which I stand. I felt deep gratitude to our Honourable Minister, past and present board members and the former CEOs for their contribution.
“Walking through the corridors of the organisation reminded me that while I may be the first woman to hold this office, the true strength of ENPF lies in its people. From executive management to frontline colleagues serving members daily.
“What weighed most heavily on my mind were responsibility, teamwork and collective dedication. ENPF safeguards the retirement hopes of more than 177 000 active members. Decisions taken within these walls affect real families and the future dignity of our members.”
PREPARATION MEETS PURPOSE
Tembe’s career journey has been marked by discipline, mentorship and a steady commitment to excellence in financial stewardship.
“My journey has never been about pursuing titles. It has always been about pursuing excellence in stewardship.
As a chartered accountant, you are trained to look beyond numbers and understand the story behind them. That includes risk, accountability, sustainability and value creation.
I did not set out with a fixed roadmap to this office. However, I have always believed that if you remain faithful in small responsibilities, you will eventually be entrusted with greater ones.
“This appointment, therefore, felt less like a surprise and more like a moment where preparation met purpose.
“My career has been shaped by mentorship, discipline and teamwork. I have had the privilege of working alongside remarkable colleagues and leaders who recognised potential in me long before I recognised it myself.
“Leading ENPF represents the culmination of that collective investment.”
LEADERSHIP BEYOND LABELS
Finance remains a sector historically dominated by men. Tembe acknowledges the challenge — but refuses to let it define her leadership.
“The financial sector has historically been male-dominated, and in such environments one sometimes has to work harder to demonstrate competence before it is recognised.
“I do not view that as a setback. Instead, it is an opportunity to demonstrate that leadership is defined by capability, integrity and results; not gender.
“At the same time, my appointment, and those of other women in various sectors, reflects Eswatini’s progress, demonstrating that leadership potential exists across society and that institutions are increasingly embracing inclusive leadership.
“Diversity strengthens forward looking, and balanced decision-making. When different perspectives are present at the table, institutions benefit from broader insight and more rigorous debate.
Ultimately, my focus is not on labels but on performance. Credibility in the C-suite is earned through disciplined governance, clear strategy and measurable value for members.”
GROUNDED LEADERSHIP
Running a national institution responsible for the retirement future of thousands carries immense pressure. Tembe says balance begins with personal grounding.
“Leadership at this level requires sustainability. I have come to see leadership not as a solo marathon but as a disciplined practice of stewardship.
“Balance begins with inner clarity. My faith, my family and my health provide the grounding that allows me to lead effectively. These are not distractions from my work; they are the foundations that sustain it.
Equally important are teamwork and continuous personal and professional development. No institution should rely on a single individual.
“Leadership is about harnessing the collective strength of our Executive Committee and the entire ENPF team, not carrying the burden alone.
In the pressure of deadlines, reflection and prayer bring perspective. Sustainable leadership blends professional discipline with personal grounding.”
AGAPE LOVE AS A NATIONAL COMPASS
Tembe believes leadership, especially within public institutions, must reflect deeper ethical values.
“His Majesty’s call for agape love is deeply meaningful.
Agape Love speaks to a selfless commitment to the well-being of others. In leadership, it challenges us to move beyond authority and towards service.
“It reminds us that leadership is not about personal advancement but about responsibility to the wider community.
“For institutions, this principle has practical implications. It means fairness in systems, integrity in decisions and compassion in policy design.
“When leadership is guided by these values, development becomes more inclusive and sustainable.
Agape Love can therefore serve as a powerful national compass. It can guide how we treat one another, how we manage public resources and how we pursue progress as a nation.”
One of the most consequential initiatives under discussion is the transformation of the Provident Fund into a National Pension Scheme, a move that could fundamentally reshape retirement security in the country.
“This reform represents a historic shift from once-off payouts to a lifetime social safety net that guarantees economically active emaSwati a predictable, inflation-linked monthly income upon retirement.
“It also seeks to extend protection to the 59 per cent of emaSwati working in the informal sector, including domestic workers, farm workers and informal traders.
“Beyond strengthening social protection, the reform supports economic development by retaining more than 55 per cent of assets locally, deepening capital markets and reinvesting national wealth into Eswatini’s growth.”
Beyond finance and policy, the Fund also plays a role in promoting national wellness through the internationally recognised Imbube Marathon.
“The Imbube Marathon is a living expression of His Majesty’s compassion and vision for national wellness.
“By Royal mandate, senior citizens and people with disabilities participate free of charge, ensuring that health and wellness are accessible to all.
“This inclusivity transforms the race into more than a sporting event; it becomes a collective national achievement where every liSwati is valued.
“What began as a Royal call to promote wellness has grown into a powerful symbol of unity and social responsibility through the Run 4 Charity programme.”
The marathon has also elevated the country’s global athletic reputation.
“As a prestigious qualifier for the Comrades Marathon, the Imbube Marathon has elevated the country’s standing on the international athletics stage.
“The event attracts athletes and visitors from around the world, boosting sports tourism and showcasing the country’s hospitality.
“At the same time, it creates opportunities for local entrepreneurs, community traders and small businesses, ensuring that the benefits extend beyond the race route and into the wider economy.”
ADVICE TO HER YOUNGER SELF
Reflecting on her journey, Tembe says leadership is ultimately about preparation and purpose.
“I would tell her that leadership is not a race to be won but a process of preparation.
Early in one’s career it is easy to focus on technical achievements, but true professional growth comes from combining discipline with adaptability. Every complex challenge is an opportunity to learn.
I would also remind her that leadership is ultimately about service. Titles may change, but impact is measured by how effectively you empower others.
Building strong relationships, nurturing teamwork and remaining grounded in values will always matter more than pursuing status.
Most importantly, I would encourage her to remain focused on purpose. Every role contributes to the larger story of national development.”
A LEGACY OF DIGNITY
For Tembe, the true measure of her tenure will not be personal recognition but institutional transformation.
“When my tenure comes to an end, the legacy I would like to leave is having transformed the Eswatini National Provident Fund into a fully-fledged National Pension Fund.
“My ambition is to move beyond once-off payouts to a system that provides lifelong financial security for every member.
“If realised, this would mean that economically active emaSwati retire with the dignity of a predictable monthly income, while strengthening social security as a lasting pillar of national economic stability.
Beyond that transition, I would like to leave behind an ENPF that is more modern, transparent and deeply trusted by the people we serve; an institution that secures the retirement futures of its members while also contributing meaningfully to national development.
“Strengthening governance will remain essential, as will enhancing service delivery through digital transformation so that members experience efficiency, accessibility and accountability in every interaction with the Fund.
Ultimately, the true measure of our work will be whether our members and their families are able to live their later years with dignity and financial security.
“If we achieve that, then we will have honoured both our mandate and the spirit of service that should define public institutions.
In doing so, we will also be answering His Majesty’s call for agape love, by ensuring that the systems we build today safeguard the dignity and well-being of generations to come.”
