King hails Inyatsi, Shakantu’s investments
. . . says it’s a sign of strong confidence in the country
His Majesty King Mswati III has praised Inyatsi Group Holdings Chairman Michelo Shakantu for making major investments in the Kingdom of Eswatini, saying this demonstrates strong confidence in the country’s economy.
“I am very happy with what Shakantu and his team are doing for the country as they collaborate with the government to provide massive support for the empowerment and improvement of the lives of emaSwati,” the King said.
His Majesty referred to Shakantu as ‘Shabangu’ a name he was given by the regiments when he underwent the sacred ritual of initiation to be one of the King’s warriors.
“The investments in high-end technology and developing skills of emaSwati are commendable indeed. Shabangu and his team continue to make a significant contribution towards growing our economy and promoting a conducive investment climate in the country,” the King said.
“Shakantu, who is also called Shabangu in the regiments has also partnered with us as the country in providing solutions to some of the challenges we, like many other countries face, including unemployment in our country.”
The King was speaking during the official opening of Shaft 1 of Maloma Colliery Limited. The mine is one of the subsidiaries of Inyatsi Group Holdings.
Maloma Mine currently provides direct and indirect employment to 1000 people. It also spends three per cent of its profits on a robust Corporate Social Investment (CSI) programme that uplifts the lives of the people of the three Chiefdoms in which it operates.
These are the Mamba, Dlamini and Mngomezulu chiefdoms whose combined population is 100, 000 people.
His Majesty noted that Maloma Mine was one of Eswatini’s most committed investors and a big business with a massive economic and social impact.
“I would like to invite you as the employees, community members, and entrepreneurs from the area where Maloma Mine operates to fully support the company and ensure that its assets and goodwill are very well protected,” the King said.
“I urge you to take the time to find out more about and leverage the vast opportunities for economic empowerment that Maloma Mine has brought to our country.”
His Majesty said during the tour he was appraised fully how the company had plans to expand its operations even further and provide jobs for many more hundreds of emaSwati.
“This is good news for all of us as a nation as it gives strong evidence that Inyatsi Group Holdings, and by extension Maloma Mine, are fully committed to Eswatini by strategically investing in emaSwati, advanced technology of world-class standard,” the King said.
His Majesty added: “We thus see a brighter future for our mining industry as emaSwati and look forward to growth and continued success for this sector. We will continue to fully support investors such as Shakantu and Inyatsi Group Holdings, and all companies who have chosen to invest in our country. This is part of the importance of growing our economy,” said His Majesty.