The Commissioner for Cooperatives, working with the Financial Services Regulatory Authority (FSRA), has intervened in the affairs of Bunye Betfu Buhle Betfu Savings and Credit Cooperative Society Limited (SACCO) following governance and operational concerns identified through regulatory processes.
The Ministry of Commerce, Industry and Trade issued the statement on Wednesday, 23 September 2026, through Acting Commissioner for Cooperatives Bongani Maziya in Mbabane, providing an update to members on the current situation at the cooperative.
The authorities said the intervention followed concerns identified through regulatory processes, including issues contained in two forensic audit reports conducted by PricewaterhouseCoopers (PwC) and SNG Grant Thornton. 
The intervention is intended to strengthen governance, improve operational stability, protect members’ interests and support the long term sustainability of the cooperative.
The regulatory authorities are currently finalising administrative processes relating to oversight of the day to day operations of the society.
Once these processes have been completed, the Commissioner for Cooperatives will convene a Special General Meeting (SGM) to brief members on the regulatory intervention, the proposed roadmap and the way forward.
The meeting will also give members an opportunity to receive an update on matters concerning the payment of dividends and interest on savings.
According to the ministry, these matters will be addressed in accordance with applicable legal and regulatory requirements and the information available at the time.
Members have been urged to remain calm, exercise patience and cooperate with the regulatory authorities as they work to strengthen accountability, transparency and confidence in the institution.
The ministry said further communication regarding the Special General Meeting and other relevant developments would be issued through official channels.
The statement was issued by Acting Commissioner for Cooperatives Bongani Maziya.
