Business Column | Lusaka Sun
Michelo Shakantu: The Zambian Strategist Behind Inyatsi’s $1 Billion Empire
In the evolving story of African business, few figures command attention like Michelo Shakantu — the Zambian-born entrepreneur quietly reshaping Southern Africa’s corporate landscape. As Executive Chairman of the Inyatsi Group of Companies, Shakantu has built more than just a business empire; he’s carved out a billion-dollar vision rooted in strategic diversification.
From its humble beginnings as a Swazi construction firm, Inyatsi has grown into a pan-African powerhouse. According to Forbes Africa Magazine, the group now boasts an annual turnover of nearly $1 billion (E18 billion) — a figure that places it among the continent’s most influential private sector players.
Shakantu’s blueprint has always extended beyond cement and scaffolding. Inyatsi now holds a robust presence in sectors like mining, telecommunications, insurance, media, financial services, and healthcare. One of its crown jewels: Maloma Colliery, a key anthracite coal mine that fortifies Inyatsi’s mining ambitions. In the food manufacturing space, its takeover of Eswatini Meat Industries, which supplies premium meat to Europe and Taiwan, signals intent to dominate critical value chains.
Perhaps most notably, Shakantu’s footprint is now visible in Eswatini’s media corridors. Inyatsi recently acquired the Times of Eswatini, the country’s oldest newspaper. That move complements an expanding portfolio that includes Rubicon Media, the Eswatini Financial Times, and Eswatini Daily News — a calculated pivot into information and public discourse.
In an interview with Forbes Africa, Shakantu described his business philosophy as one of “finding gaps and solving problems.” This mindset has seen Inyatsi stretch its wings into several African countries, quietly building influence and operational muscle.
Still, rapid success comes with scrutiny. Critics have questioned the group’s involvement in state tenders and high-stakes financial deals. Concerns about transparency and governance have surfaced, yet Inyatsi’s stronghold in Eswatini’s economy remains undiminished.
As Michelo Shakantu’s story continues to unfold, it is clear that his legacy is tied not only to bricks and mortar but to the very fabric of regional economic transformation. Whether viewed as a shrewd industrialist or a controversial figure of influence, his impact is both undeniable and far-reaching.