Securities Brokerage

Our Approach to Securities Brokerage

ESW Securities is committed to Eswatini and its economy, and strives to play a significant role in the investing community by improving the quality of service offered to investors on the Swaziland Stock Exchange.

Our Services

Trade execution
  • We execute trades on the Eswatini Stock Exchange (ESE) on behalf of individual and institutional clients.
  • We execute Over the Counter (OTC) trades.
Block execution
  • We do counter-party searches for block deals.
  • We negotiate and execute block trades on behalf of our clients.
Deal execution
  • We pride ourselves in our unique ability to structure deals and provide advisory services for corporate actions.
Transaction sponsor

 

  • We provide transaction sponsor services on listing, corporate restructuring, mergers and acquisitions and corporate actions, both on the equity and debt markets.
Research
  • We have a functional research department to provide tailored research of specific counters, sectors and industries.
  • We also provide timely market updates and commentary.
Market updates
  • Post trading - our dealers always try to give an indication of market colour, including updates on deals that have been concluded and those still outstanding.

Private Equity

Our Approach to Private Equity

We believe in a proactive approach to investing, hence our consistent application of a private equity investment model in all our investment activities, characterised by the following:

  • Holding atleast 2 board seats on the boards of our investee companies medium- to long-term investment holding period.
  • Holding atleast 25.1% shareholding in our investee companies so that we have influence. In instances where we hold less than 25.1%, we ensure that our investment structure provides that we still have influence.
  • Target IRR of 25%.
  • Investing in partnerships with strong international operators with technical know-how, financial capacity and experience.
  • Prudent accounting for our investments.
  • Strong focus on portfolio management, characterised by effective management and monitoring of our investments.
  • Our portfolio management process requires, amongst others, various technical skills ranging from financial, risk management and business, to devising and negotiating exit.
  • Structured exit from our proprietary investments through one or a combination of the following:
    • Sale to our investment/operating partners;
    • Sale to other financial investors; and/or
    • IPO of our investee companies.



Listed Equity Investing

Our Approach to Listed Equity Investment

We are focused on finding stocks that are underpriced and have strong value unlocking potential.

We follow the following principles in our stock picking process:

  • Detailed fundamental analysis of identified investee companies.
  • Identify stocks which have a market price (stock price) which is lower than the intrinsic value of the company.
  • Evaluate credibility and strengths of management teams.
  • Thorough analysis of historical financial performance and robust cash flow generation.
  • Assess corporate governance structures, composition and effectiveness of an investee company.
Private Credit

Our Approach to Private Credit

We are focused on originating and investing in proprietary credit special situations that generate attractive yields, while mitigating risk through collateral and credit enhancements.

Due to the distinct lack of the following:

  • Capital preserving funding in value unlocking structured credit instruments; and
  • Extraordinarily expensive debt with terms not sensitive to the opportunity on hand.

We aim to fill in this gap by providing innovative funding solutions to qualifying opportunities.

ESW Investment Group de-risks these debt instruments by structuring in guarantees or insurer wraps with equity kickers and high coupons.

We apply a private debt-oriented and disciplined approach to evaluating investment opportunities. ESW seeks to invest in companies that meet the following investment criteria:

  • Solid sector fundamentals and non-cyclical industries with stable and positive fundamentals.
  • Experienced management teams.
  • Solid historical financial performance and robust cash flow generation.
  • Realistic business plans with compelling, value-added uses of capital.
  • Strong corporate governance practices.
  • Contractually defined exit alternatives.

We invest in a diversified portfolio of debt instruments, including, but not limited to:

  • Mezzanine instruments;
  • Preferred equity securities;
  • High yield debt securities;
  • Convertible;
  • Participating; and
  • Other similar income-producing debt securities and obligations.

 

Our Private Credit Portfolio

ESW invests in a diversified portfolio of debt instruments and is looking to expand its private credit portfolio in Eswatini

We invest in a diversified portfolio of debt instruments, including, but not limited to:

  • Mezzanine instruments;
  • Preferred equity securities;
  • High yield debt securities;
  • Convertible;
  • Participating; and
  • Other similar income-producing debt securities and obligations.

Wealth Management

Our Approach to Wealth Management

ESW Investment Group is an authorised financial service provider registered with the Financial Services Regulatory Authority (FSRA) that provides investors with the information and advice they need to make investment decisions that are appropriate to their own needs. As a local financial services provider, ESW Investment Group aims to provide and create a secure environment for Eswatini investors to achieve above-average returns.

Our product and service offering includes:

  • Financial Planning
  • Share Trading
  • Saving and Investing
  • Retirement Preservation
  • Saving for Retirement
  • Employee Benefit
Financial Advisory

Our Approach to Financial Advisory

ESW Financial Advisory provides corporate finance and advisory services to the public and private sector in the Kingdom of Eswatini and is licensed (Type III) and regulated by the Financial Services Regulatory Authority (FSRA).

Our Financial Advisory team has extensive experience working in Sub Saharan Africa and has handled over US$800 million in transactions (proprietary / advisory) over the past 10 years.

Our team has successfully built businesses that have been publicly listed, whilst also providing advice to governments, state-owned enterprises, private companies, multinationals and entrepreneurs.

Corporate Advisory
  • Mergers and Acquisitions
  • Capital Raising
  • Strategic Shareholder Advisory
  • Transaction Structuring
  • Restructuring
  • Corporate Valuations

Capital Markets Advisory
  • Equity Capital Markets
  • Debt Capital Markets
  • Private Placement Advisory
Investment Advisory
  • Private equity fund management
  • Private credit fund management
Ad-hoc Services
  • Debt and equity sponsoring brokers.

  • Valuations, PPAs and fairness opinions.

  •  Underwriting.

  • Legal and regulatory advice and documentation.

  • Limited scope financial due diligence.

  • Transaction structuring and documentation.

  • Corporate restructuring.

  • Assisting in credit and social ratings.

  •  Preparation of corporate profiles.