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Greystone Partners Business Overview

Greystone was incorporated as a public company on 27 January 2009. It is a listed investment company that focuses primarily on unlisted investment opportunities, i.e. the private equity asset class. The Company’s aim and objective is to achieve superior long term capital appreciation through majority or minority equity stakes across a portfolio of investments. Greystone, through its network of business associates, has the ability to leverage off its strong relationships within the business community to identify and execute on the most attractive of investment opportunities.


Although the Company’s main focus is unlisted investments, the Company’s investment mandate allows it to invest in a variety of instruments from pure debt, structured products, quasi equity funding, unlisted equity and listed equity investments. This flexibility provides Greystone with the ability to structure investments that limit downside risk whilst enabling the opportunity to achieve superior returns.

The Company’s primary investment geography is in the Kingdom of Eswatini. Where opportunities are unavailable, there may be a case for investing elsewhere within the Common Monetary Area (“CMA”).

Through the Directors, the Manager and the members of Greystone’s investment committee, the Company has extensive and complimentary backgrounds in public and private investing, principal investing, corporate finance, financial modelling, structured finance and financial engineering with over 50 years combined investment and business management experience in Africa. These skills have enabled Greystone to develop a successful long term track record.

The existing portfolio is currently well diversified. Strategically, Greystone targets businesses which fits the criteria of being clearly understood, management that has significant “skin in the game”, companies which generates high returns on equity and consistent growth in after-tax profits, compelling business models with a revenue “moat” and high growth potential.

Greystone Milestones

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Meet The Team


Mr. Mduduzi M. Dlamini 

Non-Executive Director (Chairman)


Mr Dlamini, the current Chairperson of the Board, is the Chief Executive Officer of Eswatini National Housing Board responsible for providing affordable housing and developing housing schemes in Eswatini. He holds a Masters Degree in Urban Planning from the University of Michigan Ann Arbor, Michigan, USA as well as a Bachelor of Science Degree from the University of Eswatini. Mr Dlamini brings great input to the Greystone Board as he has also been exposed to various Boards within the Kingdom.


Dr. Khanyisile Dlamini

Non-Executive Director


Dr Khanyisile is the Lead Consultant in the Department of Education and Sport Development in North West, conducting evaluation, adjudication and supply chain management administrative services for the Department, prior to that, she was the consultant in the Ministry of Commerce, Industry and Trade in Eswatini. Dr Khanyisile holds a PhD in SME and Economic Development from the Aston University, Birmingham, UK, Master of Business Administration from the DeMontfort University, Leicester, UK, as well as a Bachelor of Commerce from the University of Eswatini.

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Mr. Mandla L. Dlamini

Non-Executive Director


Mr M.L Dlamini holds a Masters Degree in Business Leadership from the University of South Africa as well as a B.Com Degree from the University of Eswatini. He has extensive experience in Financial Services Regulation having worked for the Central Bank of Eswatini for the last 33 years where the last 14 years he held and still holds the position of Manager, National Payment Systems.


Ms. Simphiwe N. Shabangu

Non-Executive Director


Ms. Shabangu is a Lecturer in the Department of Law at the University of Eswatini. She boasts of extensive experience in the law sector having worked for the University for the last 19 years. Ms. Shabangu has been admitted Attorney of the High Court of Eswatini and she is also a member of the Law Society in Eswatini. She holds a Master of Laws (LLM) (Specializing in Intellectual Property) from the Turin Law School, Italy and Master of laws (LLM) (General Studies) from the Georgetown University Law Centre, Washington DC, USA.


Mr. Sandile Khumalo

Non-Executive Director


Mr Khumalo is the Finance Manager of Eswatini Electricity Company. He is responsible for Financial Reporting, Treasury Management, Payroll Administration, Taxation and Payments. Prior to that he was a Commercial Manager – Planning & Performance for Eswatini Beverages Limited, where he was responsible for driving the organisation’s commercial strategy and top line growth. Mr Khumalo holds a Master of Business Administration in Executive Education (EMBA) from the University of Cape Town’s Graduate School of Business, a Master of Sciences in Finance & Accounting from the Westminster Business School at the University of Westminster in London, is a registered Chartered Accountant in Eswatini (CA (SD)) and also a Chartered Certified Accountant (ACCA).

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Ms. Nelsiwe K. Mabuza

Executive Director


Ms Mabuza was voted Business Woman of the Year Award (BWYA) in 2013. Her time at African Alliance Eswatini started in 2001. As the Chief Executive Officer of African Alliance Eswatini, she has gained diverse corporate finance experience ranging from sourcing finance through bond and equity issuances, listings, hedging currency portfolios and investment to advisory services. Ms Mabuza holds an MSC in Mathematical Modelling with an emphasis in Finance, as well as a certificate in Financial Management.


Mr. Tony de Castro

Executive Director


Mr. de Castro is the founder and Senior Partner of the African Alliance Limited Group. He advises the group on strategy, drawing on his extensive experience in the banking sector spanning a wide range of banking disciplines.

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