The decision by Commerce Minister Mancoba Khumalo to rush and issue a press statement in defense of Inyatsi Group Holdings, amid tension with the Federation of Eswatini Business Community(FESBC) over the ongoing buying of companies,undermines the principles of impartiality that the Minister should or is expected uphold when dealing with such critical issues.
As the political head for businesses in the country and the face of Government in the Ministry of Commerce,the Minister must strike a balance between the interests of indigenous businesspeople and/or Domestic Investments(DI) and Foreign Direct Investments(FDIs) in the context of the complaint against Inyatsi Group Holdings.
There’s a valid complaint here against Inyatsi Group Holdings, Michello Shakantu is accused of buying companies that are key to the economic backbone and transformation of the country and on the other hand, Inyatsi Chairman Michello Shakantu told this publication that, he followed legal processes when buying the companies.
This means we have a valid complaint and a response from Shakantu,it is therefore the duty of the Eswatini Competition Commission(ECC) to make a ruling over this matter and clear Shakantu not the Commerce,Industry and Trade Minister.
Inyatsi Group is a giant company capable of defending itself if indeed the law was followed and as the situation stands, Minister Mancoba Khumalo is pronouncing himself in a matter that is outside his jurisdiction.
The Eswatini Competition Commission(ECC) is an institution within the Ministry of Commerce and it’s operations or powers is regulated by the Competition Act, Minister Mancoba must allow the Commission to deal with the matter independently.
The Chief Executive Officer(CEO) of the Eswatini Competition Commission(ECC) Muzi Dlamini made it clear that,as the Commission, they “are dealing with the matter” and now Commerce Minister Mancoba Khumalo has pronounced his views.
In the statement,the Commerce Minister accused FESBC of breaking the law by writing a letter to the Competition Commission, he must cite a provision in the Competition Act that empowers him to supersedes the powers of the Competition Commission and pronounce his views in a matter that is pending before the Commission.
The Commerce Minister cannot break the law and then accuse others, there’s no provision in the Competition Act where the Minister is empowered to act as a Public Relations Officer(PRO) for foreign investors and furthermore, Khumalo is not the Minister of Foreign Direct Investment (FDIs).
In context,Minister Mancoba Khumalo is suggesting that Justice Minister Prince Simelane can assume the powers of the judiciary and pronounce himself in a matter that is pending before court just because,by extension,he is the political head of the judiciary.
The judiciary is independent so is the Eswatini Competition Commission(ECC) as per the legal framework regulating it’s operations and functions.
The level of independence might differ but,we don’t expect a Minister to take sides in such a sensitive matter instead of mediating and balance the business interests, you can’t rebuke FESBC, an organization for indigenous businesspeople merely for crying for help from a government institution tasked with ensuring fair competition in the corporate sector.
Mancoba Khumalo must reduce the speed because seemingly,he is on the fast lane, this is an issue of national interest,we expect Government to balance the interests of local businesspeople and Foreign Direct Investments(FDIs).
Michello Shakantu and Victor Gamedze established Eswatini Mobile and thereafter,we enjoyed cheaper rates from MTN because a new mobile company created competition.
This means Mancoba Khumalo might be right that,we need Foreign Direct Investment(FDI) and indeed, FDIs enhance economic growth and create jobs.
In the establishment of Eswatini Mobile, a company that is part of Inyatsi Group, Michello Shakantu,a foreign businessman and the late local businessman Victor Gamedze collaborated and assisted all of us by creating a competition for MTN Eswatini, in the process, jobs were created and online publications managed to breathe because affordable data enhanced access to information through the internet.
We welcomed Michello Shakantu and Victor Gamedze’s idea of establishing a mobile company because we were tired of MTN’s monopoly and expensive call and data rates.
But now, there’s a complaint against Inyatsi Group Holdings, the giant company is accused of monopolizing the economy and monies and tenders, it is alleged,are now circulating among a few businesspeople or around Michello Shakantu.
This is exactly the monopoly we were complaining about with MTN Eswatini before the establishment of Eswatini Mobile.
Whether Minister Mancoba Khumalo is a friend to Shakantu or not,he must learn to balance business interests as a politician otherwise he will trigger a political unrest with his reckless press statements that demonstrate ignorance with regards to public administration.
It should be noted that, in any business environment, conflict of interests always exist and in this regard, it is the duty of the relevant institutions like the Competition Commission to balance the interests and create a fair competitive business environment.
In conclusion,it is important to warn the Commerce Minister to refrain from messing-up this matter, the Eswatini Government is not a Government for Foreign Investors but an institution of the State whose functions and fundamental objective is to serve the people with honesty and dignity.
Foreign investors must be protected by the State from unfair treatment but you cannot rebuke FESBC members for rushing to a State institution being the Competition Commission to ‘cry’ saying “we are hungry Inyatsi is now grabbing everything”.
In light of the aforementioned,it is important therefore for the Commerce Minister to wait for a ruling from the Competition Commission,both parties will seek his intervention should a need arise.
Minister Mancoba Khumalo.