Eswatini Employee Benefit Consultants (ESEBC) was established in 1985 and is the leading provider of employee benefit administration and consulting services in Eswatini. The organisation has established a strong reputation for success due to its unwavering dedication to providing superior services to its clients.ESEBC is registered and regulated by both the Financial Services Regulatory Authority (FSRA) and the Eswatini Revenue Services (ERS).
Our offering encompasses a diverse suite of services designed to meet the unique needs of our clients, affirming our commitment to deliver bespoke solutions. We have a proven track record of excellence, servicing a broad spectrum of esteemed corporations across the nation. In managing retirement funds, we leverage on our deep expertise, evidenced by the advanced systems and capable staff that we employ and further through our partnership with Alexander Forbes (Alexforbes).
The Sibaya Umbrella Funds include more than 66 participating employers combined and manage approximately E1.2 billion in members' fund assets (as at 30 June 2024).
The Funds have an experienced and established Board of Trustees who are vetted and approved by the FSRA.
Registered under the Retirement Funds Act, 2005 and the Income Tax Order, 1975.
Committed to providing a retirement plan that is simple and cost-effective, ensuring that the needs of participating employers of all sizes are met. We take into account the needs of both participating employers and members when designing the fund, while also providing the flexibility to customize benefits for each participating employer.
Enables participating employers to concentrate on their primary business while receiving expert guidance from professional Trustees who manage the Fund on their behalf. Each participating employer is involved in the Fund through a Management Committee consisting of Member Elected Representatives and Employer Appointed Representatives.
Designed to operate on a Defined Contribution basis i.e. members’ retirement benefits are based on the amounts contributed into the Fund plus any investment returns earned thereon. The minimum member and Employer contributions per member are 5% of the member’s pensionable salary.
ESEBC has built a solid track record over the years servicing standalone funds, combining defined benefit and defined contribution funds.
Our experience has enabled us to provide value adding outcome-based retirement fund solutions.
Standalone funds are independently run by Board of Trustees. The Board of Trustees have the control to structure fund in a manner that will meet their respective needs and objectives.
ESEBC’s solutions are tailored to each fund’s needs and as at 31 December 2024 had approximately E1,4 billion assets under administration.
ESEBC has an entrepreneurial flair in offering of advice, design and evaluation of employee benefits, and developing innovative solutions to meet the needs of both our clients and their employees. ESEBC aids its clients in effectively communicating benefits to its employees, through offering a range of services that can facilitate the process, such as:
ESEBC is committed to ensuring the accurate drafting, registration, and approval of all fund rules, agreements, and policy documents by the relevant authorities. Our team is responsible for drawing up the funds’ meeting agendas, minutes of meetings, resolutions and rule amendments among other documents. Our team also monitors any changes in legislation that impact on the business of retirement funds.
Our comprehensive packages enable employers to combine death, disability, and funeral insurance coverage with a retirement savings plan, while still benefiting from economies of scale that allow for maximum allocation of contributions and investment returns to members' retirement funds.
ESEBC efficiently manages retirement funds’ contributions, maintenance of accurate member records and processing of claims. Our systems allow us to operate monthly unitization, which allocates investment returns to members’ records monthly. We are entrusted with the critical task of generating Annual Benefit Statements for each member after independent verification through audits and actuarial valuations of members’ fund credits, which ensures the accuracy of the values. Preparation of data for annual audits and actuarial valuations. A comprehensive administration report is compiled and presented at Management Board/Committee meetings.
ESEBC Investments is a wing under the broad ESEBC business whose prime focus is asset consulting and facilitation of asset management functions.
Our assets under management are well over the E1.2 billion mark and assets under advisory are in the north of E4.8 billion. Our flagship Funds,
the Sibaya Umbrella Pension and Provident Funds have their asset management and investment advisory facilitated by us.
We are a registered business regulated by the Financial Services Regulatory Authority(FSRA), Central Bank Of Eswatini(CBE) and are compliant to all the regulatory requirements of the Financial Services industry in Eswatini.
Our approach in advisory hinges on the statutes of implemented advise, offering the client a heightened degree of confidence needed for the security of their assets. We have access to a wide array of managers, locally, in South Africa and also abroad, and that in itself, has the constructs of diversification embedded in our strategy.
ESEBC Investments works with Alexander Forbes who is based in South Africa with assets under management to the tune of E525 billion.