Mbabane- The Executive Chairman of the Inyatsi Group, Michello Shakantu has won the multimillion Eswatini Mobile shares against Princess Lungile.
Judge Zonke Magagula dismissed Princess Lungile’s application due to the fact that she had failed to convince the court to declare the transfer of Victor Gamedze’s shares which he held in Eswatini Mobile.
The late businessman Victor Gamedze’s wife, Princess Lungile had approached the court claiming that, Shakantu was selling shares belonging to her late husband to Public Pensions Fund, however, the court ruled that, the widow does not have a right to interfere in the sale of shares at Eswatini Mobile.
She further argued that her late husband’s shares were transferred to Shakantu without her consent. On the contrary, Judge Magagula found that the Princess had no right standing to institute these proceedings in court.
“There may be questions regarding the agreement or purported agreement for the transfer of the shares, but unless and until the transfer of the shares is set aside, the applicant (Lungile) cannot be heard to want to interfere,” said the judge.
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