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COMPANIES ‘GRABBING’:Inyatsi Group Holdings Chairman Michello Shakantu instructs SV Mdladla lawyers,takes on FESBC for alleged defamation.

Monday, 4th December, 2023

MBABANE:Michello Shakantu,the Executive Chairman of Inyatsi Group Holdings has instructed the reputable SV Mdladla and Associates to demand the retraction of the letter where the Federation of Eswatini Business Community(FESBC) is accusing the giant group entity of buying various companies that are key to the economic transformation of the country, thus creating a business environment marred by unfair competition.

This comes after this Swaziland News reported on Sunday that,FESBC “has reported Inyatsi Group Holdings to the Eswatini Competition Commission(ECC)” for alleged unfair competition practice,the FESBC letter was copied to the Minerals Management Board,Construction Industry Council(CIC), Eswatini Revenue Service(ERS) and the Ministry of Commerce,Industry and Trade among others.

In the said letter,Inyatsi Group highlighted that, it was a member of FESBC but to its surprise, the company was never formally engaged to discuss the allegations contained in the letter.

“Given the proximity of client to the Organisation,our client's instructions are at this stage to demand as we hereby do, that there be a retraction of the contents of the letter by the Organisation.The said retraction should be accompanied by an apology and such retraction and apology should be published in all the media houses as well as social media.0ur client denies the veracity of the contents of your correspondence and as such, demands that the said retraction and/or apology be attended to and published within 3(three)days from the date of this letter.Should you fail to retract the contents of the letter and make an appropriate apology within the stipulated days hereinabove, our strict instructions are to institute legal action against your Organisation and further institute criminal proceedings against the individual members of the Board whom client believes directs the proceedings of the Board.As indicated hereinabove, client denies the truthfulness of the contents of the letter and disputes same in the strongest possible sense and takes strong exception to such underhand methods of abusing client's fama.This letter is not exhaustive of all the issues pending between yourselves and our client.The non-denial of the contents thereof does not and should not be construed as a waiver on the part of our client.0ur client expressly reserves the right to raise other issues pertinent thereto at the appropriate time and forum”,reads the letter from the Inyatsi Group Holdings lawyers.

The letter from the Inyatsi Group lawyers was then forwarded to Tum DuPont, the owner of Tums Waterworld Hotel who doubles as the President of the Federation of the Eswatini Business Community(FESBC), however,he failed to respond when asked to comment about the latest developments.

Reached for comments on Monday evening,prominent lawyer Sdumo Mdladla confirmed receiving instruction from Inyatsi Group Holding to handle the matter.

“We can confirm receiving instructions from Inyatsi to handle the matter,”said the prominent lawyer.

Inyatsi Group Holdings was reported to the Eswatini Competition Commission(ECC)last week, for allegedly buying various companies that are key to the economic backbone of the country thus creating a business environment marred by unfair competition.

Muzi Dlamini,the Chief Executive Officer(CEO) of the Eswatini Competition Commission(ECC) told this publication that,he will respond to our questionnaire later this week and clarify some of the issues raised by FESBC in the letter.

COMPANIES ‘GRABBING’:Inyatsi Group Holdings Chairman Michello Shakantu instructs SV Mdladla lawyers,takes on FESBC for alleged defamation.
Inyatsi Group Holdings House.