Dave Van Niekerk facilitates recovery of R85m for SCBS members after meeting with King
DAVE Van Niekerk, a longstanding member of the Status Capital Building Society, is facilitating the recovery of R85 million in public investment funds following a constructive meeting with His Majesty King Mswati III.
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DAVE Van Niekerk, a longstanding member of the Status Capital Building Society (SCBS), is facilitating the recovery of R85 million in public investment funds following a constructive meeting with His Majesty King Mswati III.
Though not involved in SCBS’s operational decisions, Van Niekerk reaffirmed his commitment to support members by assisting in the restoration of funds.
In an interview with Swaziland News, an online publication, he confirmed that all investment matters linked to his tenure as a non-executive member have now been resolved, including a final settlement with the Swaziland Development and Finance Corporation (SDFF).
As part of the agreement, SDFF will repay R85m — covering principal and interest. R10m has already been deposited into SCBS accounts, with the balance to follow in the coming months. This follows an earlier R35m repayment earlier this year, which Van Niekerk made as part of his personal commitment to the recovery effort.
Van Niekerk described the settlement as “a crucial milestone” that clears past obligations and opens the door to renewed stability. “I remain committed to supporting members in restoring transparent governance, democratic control, and attracting new investment—once a member-elected board resumes leadership,” he said.
His dialogue with King Mswati stemmed from a desire to ensure balanced understanding amid public concern over members’ savings. The King, known for his open-door approach, welcomed the opportunity to foster a constructive resolution.
The King’s Spokesperson highlighted the value of direct engagement: “This shows the power of honest conversation. His Majesty’s willingness to listen has helped create a path forward, even in complex circumstances.”
With repayments now underway, SCBS members can move toward renewed confidence and a stronger future, supported by collaborative efforts and shared accountability.