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Inyatsi Group Director Michello Shakantu reported to the Competition Commission for buying key economic transformation companies,FESBC President Tum DuPont says local businesspeople frustrated.

Sunday, 3rd December, 2023

MBABANE:Michello Shakantu,the Executive Chairman of Inyatsi Group has been reported to the Eswatini Competition Commission(ECC) for allegedly buying companies that are key players in the economic backbone of the country.

Responding to this Swaziland News on Sunday afternoon,Tum DuPont,the owner of Tums WaterWorld Hotel who doubles as the President of the Federation of Eswatini Business Community(FESBC) confirmed that, they have written a letter,reporting Inyatsi Group and Michello Shakantu to the Competition Commission for buying companies that are key to the economic transformation of the country thus creating a business environment marred by unfair competition.

The FESBC President further mentioned that,reporting Inyatsi Group to the Competition Commission,was in preparation or a process that might result to them taking the matter to court.

“As you have seen in the letter,we are urging the Competition Commission to take action against Inyatsi Group and if this fails,we will go to court to seek interpretation if what Inyatsi is doing is in line with the principles of fair competition.Local businesspeople are frustrated and they always complain to us as FESBC hence we decided to take action,"said the FESBC President.

In the letter dated 30th November 2023,the FESBC President mentioned Eswatini Meat Industries, Eswatini Mobile,Nkonyeni Estate, Lidwala Insurance Company, The Clinic Group, Umbuluzi Chicken,Inyatsi Construction,United Holdings and Maloma Colliery Limited(MCL) as some of the companies or entities under Inyatsi Group.

Reached for comments on Sunday, Michello Shakantu,the Executive Director of Inyatsi Group Holdings told this Swaziland News that,in the process of buying the companies or expanding the business interests of Inyatsi Group,everything was done in accordance with the law.

“We have followed the law and everything is above board,” said the Inyatsi Group Executive Chairman.

Responding to this publication on the subject matter, Muzi Dlamini,the Chief Executive Officer(CEO) of the Eswatini Competition Commission(ECC) confirmed receiving the letter from FESBC adding that,they were working on the matter.

“I can confirm that we received the letter on Friday and we are working on it.I would appreciate if we can talk later so I can clarify certain issues on the letter and set the record straight,” said the CEO of the Eswatini Competition Commission(ECC).


Inyatsi Group Director Michello Shakantu reported to the Competition Commission for buying key economic transformation companies,FESBC President Tum DuPont says local businesspeople frustrated.
Inyatsi Group Chairman Michello Shakantu(pic: Lidwala).