Mbabane – Derrick Shiba, Chief Executive Officer (CEO) of Inyatsi Group, is reportedly involved with a new construction company, Grit Construction, which is bidding for the highly contested E2.5 billion African Development Bank (AfDB)-funded MR14/MR21 road upgrade project.
An official at Grit Construction confirmed to Independent News that Shiba is an associate of the company and also provides mentorship. Shiba, who became Inyatsi CEO in March 2022, oversees the group’s operations across 11 countries.
Grit’s bid for the tender has raised eyebrows in the industry, particularly as the project demands stringent financial requirements — including E45.5 million in bid security, E250 million in performance bonds, and E375 million in advance bonds. Local contractors have decried these conditions as discriminatory, alleging they exclude smaller, homegrown firms.
Further stoking controversy, several former Inyatsi employees have reportedly joined Grit Construction. Industry insiders allege that Shiba may be fronting for Inyatsi’s owners through Grit, positioning it as a proxy amid intensifying scrutiny of Inyatsi’s operations.
The nature of the staff transfers between Inyatsi and Grit remains unclear, leaving questions about whether they were officially reassigned or left voluntarily — further complicating perceptions of Grit’s independence.
Shiba did not respond to a detailed questionnaire or multiple follow-up calls seeking comment.
Inyatsi Group, a dominant force in Eswatini’s economy, generates an annual turnover of E15 billion and maintains a wage bill of E622 million. Its operations span construction, finance, healthcare, telecommunications, and other key sectors. Inyatsi Construction, the flagship company, was established in 1982 and has delivered major infrastructure projects throughout the region.
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