Suspect linked to 1.9m emalangeni fraud in Eswatini
By the AFREEQUE newsroom, based on Times of Eswatini
Bonisile Hlatshwako is accused of organising fraudulent car-loan applications involving First National Bank Eswatini employees. The courts are seeking to preserve three vehicles linked to alleged losses of 1,898,389.93 emalangeni, in an investigation whose total value is said to exceed 20 million emalangeni, according to the Times of Eswatini.
Eswatini’s attorney general accuses Bonisile Hlatshwako of coordinating fraudulent applications for car loans linked to three vehicles, totalling 1,898,389.93 emalangeni. The High Court ordered that the vehicles be preserved as part of proceedings that could lead to their forfeiture, reports the Times of Eswatini.
The vehicles concerned are a white 2025 Haval Jolion, a grey 2025 Nissan Magnite and a white 2026 Toyota Hilux. According to the affidavit presented by Elsie Matsebula, senior Crown counsel and head of the prosecution service’s asset forfeiture unit, the finance applications were allegedly supported by forged employment documents involving employees of FNB Eswatini, the bank under investigation over suspected car-loan fraud.
Investigator Thami Mabuza, of the Royal Eswatini Police Service’s money laundering and asset forfeiture unit, says he received information about three applicants on 11 August 2026. The letters confirming their employment at SBQ Investments were allegedly not genuine; two of them allegedly did not hold the positions indicated. The companies register confirms that SBQ Investments is registered and that Hlatshwako is its director.
The preservation proceedings are based on the 2018 Prevention of Organised Crime Act, which allows property allegedly obtained through illegal activities to be preserved during forfeiture proceedings. The case forms part of a wider investigation into potential losses exceeding 20 million emalangeni, already reported by the Times of Eswatini concerning FNB.
