The Central Bank of Eswatini (CBE/Bank) cautions members of the public, government entities, and all stakeholders against engaging with, investing in, or promoting an entity calling itself Eswatini New Fund Asset Depositor (AD) also known as “The Financial Institution” (TFI), and its associated promoters including Green City Developers. These parties are circulating materials regarding a purported Eswatini NEW Fund 3.0 and a supposed USD1 billion currency swaps with the Bank, The circulated materials further allege that the scheme will generate up to 10% of weekly revenue over a period of 40 weeks and misleadingly assert that the Central Bank Governor would serve as key signatory to a final contract.

The Bank wishes CO unequivocally state that all these claims are false, misleading and without any foundation. The Bank has not entered into any agreement, memorandum, or arrangement with the so-called Asset Depositor/The Financial Institution, Green City Developers, or any affiliated party regarding a currency swap, blocked funds, bond-trading revenues, or any similar scheme. Any suggestion that the Central Bank Governor has committed to sign such a contract is untrue.

The Bank reminds the public that, under the Financial Institutions Act, 2005, no person or entity may conduct banking business or accept deposits from the public in Eswatini without a valid license issued by the Central Bank. Operating or marketing such financial services without authorization is unlawful and subject to enforcement action.

The Central Bank urges all stakeholders to remain vigilant and exercise caution when approached with unlicensed, speculative, or unrealistic investment offers/proposals, particularly those that ” purport to involve the Government or the Central Bank.

The Bank assures the public that it is actively monitoring the circulation of these materials and any related activities that may contravene applicable regulatory requirements, including unauthorized deposit-taking, misrepresentation, and other unlawful conduct. To that end, we will continue to collaborate closely with sister regulators and relevant law-enforcement agencies to safeguard the integrity of the financial system and protect the public.

Dr. Phil Mnisi
GOVERNOR

Loading…

Taking too long?

Reload document

| Open in new tab

Download [952.50 KB]