PIGG’S PEAK – Residents of Pigg’s Peak Inkhundla received direct access to financial regulators and consumer support on Monday, when the Central Bank of Eswatini (CBE) brought its outreach programme to the northern Hhohho town.
As part of the initiative Taking the Central Bank to EmaSwati, the CBE team was joined by the Ombudsman of Financial Services, the Financial Services Regulatory Authority (FSRA), and the Eswatini Competition Commission. The gathering offered locals a rare opportunity to engage with regulators and get answers to long-standing banking concerns.
One of the key revelations for many residents was the role of the Financial Services Ombudsman, who handles unresolved complaints against banks free of charge. Attendees were guided on how to escalate a complaint: first, submit it directly to their bank; if there is no resolution or the response is unsatisfactory, they can file it with the Ombudsman’s office in Mbabane via post, email, or phone.
CBE representatives also raised awareness around financial scams, with a focus on protecting people’s savings from pyramid schemes that have increasingly targeted rural areas.
As part of the day’s programme, the bank’s currency team ran a demonstration on security features of the Lilangeni, encouraging people to familiarise themselves with the authentic look and feel of the national currency. The team’s message, “Know and trust your money,” resonated with attendees, many of whom had previously fallen victim to counterfeit notes and fraudulent schemes.
The outreach continues today at Hlane Inkhundla, where the same agencies will meet residents from surrounding areas.
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