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MBABANE – Investors need to look out for fraudsters as the Eswatini Stock Exchange (ESE) has only two legit stockbrokers in the country.

Stockbrokers are individuals who buy and sell stocks and other securities for retail and institutional clients, through a stock exchange or over the counter, in return for a fee or a commission.

This was mentioned by ESE in their monthly report.

ESE said they only recognise African Alliance and Eswatini Securities Limited as stockbrokers locally.

They said their role involves keeping up-to-date with the latest financial and tax legislation, monitoring stock market performances and conducting specific market research and analysis.

Dealers

ESE said they have only four exempt dealers and these are Eswatini Bank, First National Bank (FNB) Swaziland, Nedbank Eswatini and Standard Bank Swaziland.

“Exempt Market Dealers (EMDs) are fully registered securities dealers who engage in the business of trading in

prospectus exempt securities, or any securities to qualified exempt market clients,” said ESE.

ESE also mentioned that Swazi Empowerment Limited (SEL) had declared an interim dividend of E38 295 000 comprising of 207 cents per share, to ordinary shareholders registered as such in the company’s share register at the close of business on or before May 20, 2022.

They said payment of dividend was expected to be no later than May 25, 2022. Normal and withholding tax will be deducted from dividends paid to local shareholders and non-resident shareholder respectively, where applicable.