TWO directors of X-Win (Pty) Ltd that were arrested after allegedly being found in possession of about E10 million worth of US Dollars, yesterday approached the High Court seeking to be released on bail.
The two maintained that they had no control over the company’s operations as they held 0% shareholding in the company, but were only appointed as directors for administrative convenience.
They further denied involvement in the alleged illegal gambling activities currently under investigation.
Ncobile Mncina and Ntuthuko Fakudze filed separate founding affidavits before the court in which they requested to be admitted to bail pending the finalisation of the criminal case against them.
The two are facing several charges, including flouting of the Money Laundering and Financing of Terrorism (Prevention) Act of 2011, the Gaming Control Act No. 7 of 2022 and the Trading Licences Order of 1975.
They were represented by Noncedo Ndlangamandla, who was standing in for Linda Dlamini. Mncina explained that on April 2, 2026 she received a call from members of the Royal Eswatini Police Service based at Mbabane Police Station under the Criminal Investigation Department, instructing her to report to the station.
She said she complied with the request and was interviewed by police officers about the operations of X-Win (Pty) Ltd, a company in which she serves as a director.
According to Mncina, the police were particularly interested in the company’s banking transactions.
“I fully explained to them what was within my knowledge in so far as the transactions of the company are concerned,” she stated in her affidavit.
She said the police later charged her with five counts, including the Immigration Act, the Money Laundering and Financing of Terrorism (Prevention) Act, two counts under the Gaming Control Act and one count under the Trading Licences Order.
Mncina further told the court that she had been kept in custody from April 2 due to the Easter holidays, which delayed her first appearance before the Mbabane Magistrate’s Court.
She eventually appeared in court on Tuesday, where the matter was postponed and she was remanded into custody until April 10 pending finalisation of the matter.
“I submit that I am innocent of the charges levelled against me and I will plead not guilty at trial,” she stated.
Mncina argued that she had no control over the operations of the company and was only appointed as a director for administrative convenience.
She told the court that when the company was incorporated, the directors were under the impression that a foreign-owned company required at least two local citizens as directors.
She said she had since been advised that this requirement had changed following amendments to the Companies Act in 2009.
“The long and short of it is that I was merely a director on paper without deriving any financial benefit whatsoever,” she stated, adding that she is a 0% shareholder of the company.
Mncina also denied ever participating in any gaming activity without a licence and further denied employing any foreign nationals in contravention of immigration laws.
She told the court that she was firmly rooted in Eswatini and was the mother of two minor children who depended on her for support.
According to her affidavit, her youngest child suffers from asthma.
Mncina further told the court that she had fully cooperated with investigators during the course of the investigation and undertook not to interfere with witnesses or tamper with evidence.
She argued that granting her bail would not jeopardise the criminal justice system nor disturb public order.
Fakudze, in his founding affidavit, made similar submissions before the court.
Fakudze stated that he too received a telephone call from the police on April 2 requesting him to report to Mbabane Police Station.
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He said he complied and was questioned about the operations of X-Win (Pty) Ltd, where he serves as a director.
According to Fakudze, police were also interested in the company’s banking transactions, which he said he explained to the best of his knowledge.
He said he was subsequently charged with contravening the Immigration Act and the Money Laundering and Financing of Terrorism (Prevention) Act.
Like his co-accused, Fakudze told the court that he had no operational control over the company and had been appointed as a director purely for administrative purposes.
He denied engaging in any illegal gaming activities or employing foreign nationals unlawfully.
Fakudze further raised concerns about the money laundering charge, stating that the charge sheet indicated that the alleged offence was committed on October 26, 2026, a date which has not yet occurred.
“The allegation pertaining to the money laundering charge is that the offence was committed on a date that has not yet even arrived,” he stated in his affidavit.
He argued that such an allegation suggested that the charge was without merit.
Fakudze told the court that he is married and has two children who depend on him for financial support.
“I am firmly rooted in the Kingdom of Eswatini and I have no other citizenship or ties to any other country,” he submitted.
Like Mncina, he undertook to comply with all bail conditions imposed by the court and assured the court that he would attend trial if required.
He further undertook not to interfere with witnesses or tamper with evidence. Both applicants argued that bail matters are by their nature urgent because the presumption of innocence is constitutionally protected.
They submitted that remaining in custody while presumed innocent would cause prejudice to them and their families.
The two directors were eventually granted bail by the court, which was fixed at E15 000 each pending the continuation of their case.
