SBC Limited Expands Housing, Retail, and Financial Services in Eswatini

SBC Limited is strengthening its presence in Eswatini’s property and financial sectors with plans to scale up housing delivery, expand retail developments, and introduce innovative financial services.

The company’s 2024 Annual Report, published on the Eswatini Stock Exchange (ESE) website, highlights a long-term strategy anchored on a Lease-to-Own housing model. This ‘mortgage-type’ financing solution is tailored for customers who struggle to access traditional mortgages due to affordability or risk profiling.

“One of the key advantages is that each loan is secured by an underlying property, which remains under the group’s ownership until the final instalment is paid,” the report stated.

Through this model, tenants enter into long-term rental agreements, gaining ownership of the property only after all instalments are settled. The structure provides a lower-risk, asset-backed approach compared to unsecured consumer lending.

In 2025, SBC began construction of about 150 residential units under the scheme, increasing the Pine Acres-led Malkerns housing project to more than 300 homes. The company projects that up to 600 units will be delivered within the next three to four years, positioning Pine Acres as one of the country’s largest private-sector housing developers.

Complementing this growth, SBC is investing in lifestyle infrastructure with the construction of Eswatini’s first professionally built Padel Courts at Malkerns Square. Expected to be completed by June 2025, these facilities will enhance the development’s appeal and reinforce the company’s commitment to community-focused living.

On the retail front, the company has launched Phase II of its expansion plan, which will be 3.5 times larger than its existing retail footprint. The project, set for completion in the final quarter of 2026, is anticipated to transform the retail landscape at Malkerns Square and surrounding areas.

For over two decades, through subsidiaries Select Limited (Eswatini) and Lesana Lesotho Limited, SBC has provided financial services to underserved groups, particularly civil servants such as teachers, police officers, and nurses. By adopting payroll deduction models, the group has effectively reduced risk and improved repayment rates while extending access to credit.

“Select Limited and Lesana have been at the forefront of providing financial access while contributing to the development of local communities,” management noted. Listed on the ESE with a 20 per cent free float, SBC says its regulatory transparency reassures both current and prospective investors.

“The performance of the share price continues to support the opportunity to develop capital markets, and we remain confident that SBC will continue to be a desirable investment opportunity,” the report added.

With its diversified operations across lending, housing, and retail, SBC Limited is positioning itself as a driver of Eswatini’s economic transformation, while promoting inclusive growth and urbanisation.

Source : African Property Magazine -  Eswatini