EswatiniMed has taken a significant step toward restoring stability and strengthening governance structures following months of internal disputes, with shareholders backing the nomination of two prominent executives to join its Board.
Eswatini Royal Insurance Corporation (ESRIC) General Manager Zama Ngcobo and MTN Eswatini Acting CEO Jerry Soko emerged as preferred candidates to join the EswatiniMed Board. Their appointments are expected to be formalised during a Special Meeting to be convened in line with governance procedures.
This development emerged during the organisation’s Annual General Meeting (AGM) held at the Hilton Garden Inn Mbabane, where leadership confirmed plans for a broader governance renewal process aimed at resolving long-standing boardroom tensions.
Under the proposed changes, Soko is expected to replace Sibusiso Nhleko while Ngcobo will succeed Vusi Khumalo, who represented the Central Bank of Eswatini.
EswatiniMed Board Chairman Sammy Dlamini told shareholders that the Board had been engaged in efforts to safeguard institutional governance, including resisting what he described as attempts to assume control through irregular processes. He emphasised the importance of adherence to established governance frameworks.
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Dlamini also noted that relations between certain board members had deteriorated significantly, with some directors reportedly disengaging from Board activities while legal disputes continued.
It was further revealed during the AGM that steps were being taken to regularise Board composition, including the replacement of directors whose terms have expired.
Despite the governance challenges, EswatiniMed has remained operational and recorded improved performance for the 2024 financial year.
Auditors gave the organisation a clean bill of health, signalling improved financial management compared to the previous year.
The institution, which manages assets exceeding E3 billion and holds key investments including the Ezulwini Private Hospital valued at over E400 million, is regarded as a critical pillar in Eswatini’s healthcare financing system.
Shareholders indicated that the ongoing reforms were aimed at restoring credibility, strengthening leadership and ensuring long-term institutional stability.
