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“To support inclusive national economic growth through the expansion of sustainable access to financial services for Swazi entrepreneurs and the general population by helping them to be innovative, be growth driven and ultimately improving the quality of life for all”. 


“To position ourselves nationally as the leading provider of development finance and other support financial services which directly contribute to national economic development”.



To economically empower Swazi Entreprenurs through the provision of accessible and sustainable financial services. 




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Where We Are




In April 2012 the organization ushered in a new five (5) year strategic business plan which seeks to grow lending operations and outreach from the current E580 Million to E1 Billion by the year 2017. We also plan to double the number of total clients.

This entails a modest growth of 15% per annum if FINCORP is to achieve its set target. We  must  say that in charting the future of the organization,  we are informed and reassured by historical  statistical feedback and performance over the past decade and half. A qualitative and quantitative analysis of successes and challenges of the past has largely influenced the new direction of the organization going forward with a clear focus on increased outreach and sustainability.


The key strategic pillars that will herald the growth of the institution up to 2017 beyond just just expanding lending operations include Strengthen Risk Management, Credit Appraisal and Portfolio Monitoring Mechanisms; Improving Funding Stream and Strengthening Treasury Management; Strengthen Human Resource Management Capacity; Strategic Communication, and finally the Development of Products/ Markets.


Consequently we are very much pleased to announce that FINCORP has successfully applied to the Swaziland Stock Exchange (SSX) for the listing of its E300 Million Medium Term Bond issue to support the envisaged growth of the institution.  The Arranger and Sponsoring Broker for the FINCORP Bond Issue is African Alliance Swaziland Limited whilst the Transfer Secretaries shall be PricewaterhouseCoopers. Meanwhile Legal Advisors under this transaction shall be WaringSimalane& Associates Attorneys.  The key advantage of having this Medium Term Issue listed is that subscribers / investors can buy and sell their instruments in the secondary stock market as and when  want to.  Essentially you can come and move out as and when you wish depending on your investment strategy. A Medium Term Note Programme provides for the flexibility and fluidity to issue different tranches of Notes as and when required within the stipulated 24 months period of the Programme. It allows for the Issuer to match its liquidity needs to investor’s investment strategies and timing, rather than a bond where all fund at expected to be raised all once at  primary issue.


The interest rate and length of tenure on this Medium Term Issue will be dependent on negotiations with prospective investors but ideally we are looking at anything between 2 to 5 years in duration.   A market related return will be offered to all prospective investors.


We must say that FINCORP and its subsidiary company, FIRST FINANCE, continue to see a high demand for credit from the target clientele.  In fact we are overwhelmed by the day to day demand for our services. Increasingly more and more Swazis are taking interest in entrepreneurship in an effort to create opportunities for self-employment and also the upliftment of their standard of living in general through accessing our general purpose finance products at the subsidiary, FIRST FINANCE. As an organization are happy to note that over the years FINCORP has grown to become  a force to be reckoned with in Swaziland and over and above that to be one of the leading Development Finance Institutions (DFIs)  in the continent. Consequently our new strategy seeks to build for the future based on the industry knowledge and information amassed to date. As a relatively young organization,FINCORP has had considerable success in providing access to credit to citizens at grassroots level. Unprecedented both in scale and in scope, the institution has since inception provided financial support valued at more than E1.6 billion to over 60,000 clients. This has been achieved through rigorous and structured strategic implementation and policy adjustments from time to time in an effort to meet the dynamicneeds  of our target clientele.



Principally guided by the main mandate of “ Creating access to credit for people at grassroots level”, FINCORP has embarked in a Business Process Re-engineering (BPR)exercise in order to improve product offering and service delivery. This has resulted in the designing and rolling outof various user friendly products ranging from working capital, asset lease finance, contract financing, trade financing and order financing to name just a few.  In total FINCORP offers twenty three (23) diverse loan products to local entrepreneurs and four (4) general purpose finance products through its subsidiary company, FIRST FINANCE.  Customers who come from diverse backgrounds with varied financial needs are presented with a wide menu from which they can choose products that best suit their loan requirements. “ In our view there should be no Swazi who seriously wants to go into business and has a financially viable and technically feasible business proposal who fails to get assistance from FINCORP”.

To this end we have successfully secured support from the Commonwealth Secretariat to review and consider setting up a structure under which FINCORP can offer both credit and Business Development Support (BDS) to its beneficiaries.As we speak a Lead Consultant by the name of Mr. Stanley Ansong a Canadian National is onsite to conduct the exercise. Our aim is to elevate the institution to become a fully fledgedand broad based financial institution encompassing all critical aspects of development finance.  One of the key outcomes of this ongoing exercise will be the establishment of  afully fledged Business Development Unit within FINCORP which will closely support prospective and existing loan beneficiaries. This unit is also expected to collaborate with external Business Development Service Providers in assisting our clients.We have always maintained that our customer relationship officers have the capability of identifying those business that have a great potential to succeed even when presented by clients with inadequately prepared business plans. Our Officers shall focus on the soundness and  viability of the business idea and then conscientiously guide an entrepreneur to achieve his business dreams.


In line with the projected increase of the loan portfolio to E1 Billion by the year 2017, FINCORP has fully embraced the urgent need to look at the decentralization of the offices of the organization in order to effectively serve the nationwide target clientele. The level of operations and number of clients to date have reached  levels at which there is now compelling evidence for the organization to seriously consider at least  opening one branch per region. Informed by the distribution of existing clientele FINCORP willduring this current financial year set up two branches starting with the Siphofaneni area in the Lubombo region. The second branch is earmarked in the Northern Hhohho region.  Our statistical analysis suggest that branches established at these locations would immediately be self-sustainablewhen considering volumes in terms of loan portfolio size  and number of clients. We strongly believe that this move will enhance our effectiveness on financial intermediation in the country thus leaving a long lasting economic impact.



We are encouraged and reassured by the recent acknowledgement of our organizational performance by international agencies such as the Association of African Development Finance Institutions (AADFI) as one of the Best performing DFIs in Africa  andalso by the Business Initiative  Directions (BID) based in Spain for the “Star Leadership and Quality Excellence Award”  in Development Finance.  In September 2012 we were honoured by the Global Trade Leaders Club (GTLC) for Quality Excellencein Development Finance held in Spain. Again last month in March 2013 the Global Trade Leaders Club (GTLC) honoured FINCORP with the INTERNATIONAL TROPHY FOR QUALITY in Paris in March 2013which wereceived in absentia due to other prior business commitments. We are truly leaving up to our dream which enacted at inception in 1996 being “To be recognized and acknowledged by our stakeholders nationally and internationally as the foremost business development institution providing financial  services”This goes a long way in bringing credence to the work that we do and further provides a stimulus for us to even do better.


Special tribute goes to the shareholders namely Swaziland Government and TibiyoTakaNgwane for blessing this transaction.