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Finance Minister’s company reported to the Competition Commission(ECC) for allegedly grabbing forestry business,Montigny Spokesperson Sihle Mavuso says Sigwane using FESBC to push vendetta against giant businesses.

Monday, 11th December, 2023

MBABANE:Businessman Mavela Sigwane has, on behalf of the Federation of Eswatini Business Community(FESBC),reported Finance Minister Neal Rijikernberg’s company Montigny Investments for allegedly ‘grabbing’ the forestry business from local or indigenous businesspeople.

This comes a few days after the organization for businesspeople reported Inyatsi Group Holdings to the same institution for allegedly buying companies that are key to the economy backbone or transformation of the country.

In a letter dated 11th December 2023, Sigwane said, FESBC members instructed the organization to approach the Competition Commission for an investigation into the alleged grabbing of the forestry business by Montingy.

“There are allegations that Montigny has blocked the access to the Richard Bay Wood Market which was previously enjoyed by the local forest business,and has forced them to sell their wood through them for further resale to the final market at very low prices.The acquisition of the Forest Fields which were originally planted or established by the Commonwealth Development Corporation (CDC) for the Swazi Forest Interested businesses.All these forests have now been taken by Montigny, leaving the local businesses out of business causing unfair competition,”reads the letter,signed by Mavela Sigwane on behalf of FESBC President Tum DuPont.

Muzi Dlamini,the Chief Executive Officer(CEO)of the Eswatini Competition Commission(ECC)said, he would prefer not to comment regarding the letter from FESBC.

Reached for comments by this Swaziland News,Sihle Mavuso,the Montigny Investments Spokesperson said, “it is clear that Sigwane has a vandenta”, against companies where he failed to perform.

“It is clear from Sigwane’s actions that he has a vendetta against those businesses where he failed to perform,and he is now abusing a registered entity for personal agendas,”said the Montigny Investments Spokesperson.

Finance Minister’s company reported to the Competition Commission(ECC) for allegedly grabbing forestry business,Montigny Spokesperson Sihle Mavuso says Sigwane using FESBC to push vendetta against giant businesses.
Montigny Investments.