Africa-Press – Eswatini. Things seem to be going from bad to worse for the Federation of Eswatini Business Community (FESBC). United Holdings has issued a strong public statement condemning misinformation circulated by the federation and set the record straight on several issues.
Key among the issues was the lie spread by FESBC that United Holdings was under Inyatsi Group Holdings. In a statement released on Sunday, United Holdings denied the claims and emphasized that the utterances by FESBC were “false and misleading”.
“United Holdings has never been sold to Inyatsi Group,” the statement asserts. “It remains a stand-alone entity, 100 per cent owned by the De Sousa family, with no shareholding affiliation at all to Inyatsi Group.”
The statement further clarifies that United Holdings has engaged FESBC directly to address the dissemination of inaccurate information. The company added that they are committed to transparency and accurate information.
FESBC has been at the receiving end of backlash since its grandstanding attempt to discredit Inyatsi Group Holdings with a letter that was addressed to the Competition Commission. The letter was also shared with other organisations and circulated widely on social media platforms.
The letter of complaint and its contents have however been scoffed off by the relevant authorities with the Ministry of Commerce, Industry and Trade revealing that the organisation did not follow proper channels to file the complaint.
Minister Manqoba Khumalo said all investment decisions are governed by relevant laws of the country and legitimate concerns should be registered through the relevant legal channels. He noted that this was, however, not the case with the letter from FESBC.
Khumalo further added that the ministry engaged FESBC executives in this process to encourage them to allow investors to follow due processes. The minister said: “All chiefdom issues are reported to the Government through the office of the Regional Administrator after being informed of the concerns by the affected parties in those Chiefdoms, not FESBC.
However, in this case, nothing has been communicated to the Regional Administrator for the appropriate assessment of the concern. The registration of concerns with the Competition Commission has also not been legally made as contained in the relevant legislation.”
“The letter that was maliciously circulated does not constitute registration of a concern and FESBC has been previously advised of this. Furthermore, the public citing of different agencies without consultation has been noted as a concern that discredits the basis for the allegations.
It is, therefore, worrying that such an approach from FESBC could negatively affect the positive investment and growth climate in the country, resulting in the loss of employment already created and yet to be created,” Khumalo said. The minister added that FESBC’s actions amount to unwarranted investor harassment and urged the organisation to act by the law in all its dealings, and not inadvertently destroy the very jobs that the country desperately needs.
The underhanded tactics of FESBC and former Maloma Colliery worker Mavela Sigwane have also resulted in the Inyatsi Group taking legal action. Having failed to generate the desired outcome with the letter, Sigwane went on a vitriolic spew of slandering, xenophobic outbursts, hate speech and incitement of violence against Inyatsi Group and its executives.
He has also taken jabs at Minister Khumalo, Business Eswatini CEO E.Nathi Dlamini and various other politicians who he has branded as ‘corrupt’. Over the weekend, he released voice notes and a video along those lines which has also seen Inyatsi Group filing an urgent court application to deal with the matter.
Minister of Commerce, Industry, and Trade Manqoba Khumalo.
Inyatsi has emphasized its commitment to ethical and fair business practices that the group has practised for over 40 years. Some emaSwati on social media have publicly blasted FESBC, highlighting that Inyatsi operated with integrity and transparency.
EmaSwati also applauded the group for having invested significantly in the country’s economy, creating jobs, and contributing to the nation’s development. Inyatsi’s legal action against FESBC reflects the company’s determination to defend its reputation and ensure accountability on unfounded allegations levelled against them.
The company contends that the disseminated information is false and misleading and might cause not only Inyatsi but the investment space considerable harm. United Holdings joins a growing list of companies criticizing FESBC’s misinformation campaign. Several prominent businesses have expressed concerns over the federation’s lack of due diligence and its careless dissemination of unverified information.
This incident raises concerns about the role of FESBC in the Eswatini business community. The federation is expected to uphold high standards of professionalism and ensure the dissemination of accurate information. By failing to do so, FESBC risks jeopardizing its credibility and damaging the reputation of the Eswatini business community as a whole.
The Ministry of Commerce, Trade and Industry in its statement highlighted this, adding that it would hurt business and investment in Eswatini. It further highlighted that information had come out that the move was allegedly orchestrated by a FESBC executive who has personal scores to settle.
“It is therefore worrying that such an approach from FESBC could negatively affect the positive investment and growth climate in the country resulting in the loss of employment already created and yet to be created.
This behaviour is especially concerning because the ministry has obtained credible information from within FESBC itself that the campaign against these investors is being single-handedly championed by one of their executive members who seeks to either settle personal scores or be given tenders by the targeted companies. This cannot be allowed,” reads the ministry’s statement.
Inyatsi Group has also played open cards with the public and shared information regarding its work and the impact it has had on the lives of emaSwati. During a press briefing held last week Friday, Inyatsi Construction CEO Derrick Shiba emphasized its contributions both locally and across the continent.
Shiba mentioned that Inyatsi Group has directly provided employment opportunities for over 6,000 emaSwati, contributing to the economic well-being of the nation and the group’s success translates to substantial tax contributions, exceeding E1 billion.
This revenue supports essential government services and infrastructure development. The CEO said that Inyatsi Group is actively investing in various sectors within Eswatini, driving economic growth and fostering a vibrant business environment. Inyatsi Group has strategically expanded its operations across Africa, establishing a strong presence in eleven African countries.
The group leverages its expertise and experience to support development across the continent, contributing to infrastructure projects and fostering regional collaboration.
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