By Phiwa Sikhondze
The Eswatini Competition Commission (ECC) has announced the approval of several significant mergers and acquisitions that promise to shape the industrial and agricultural landscapes of the nation.
In the final quarter of the 2023/24 fiscal year, Conco Limited, a prominent soft drinks concentrate producer and supplier, successfully acquired industrial land from General Engineering Works (Pty) Ltd.
ECC’s Acting Advocacy & Communications Manager Louis Marx noted that the transaction involves a 4,529 square meter plot, situated at Portion 7 of Lot No.478 in Matsapha, Manzini District. Conco, which operates out of Lot 476 Matsapha Industrial Site, is a wholly owned subsidiary of Atlantic Industries, based in the Cayman Islands.
The Commission’s review highlighted that this acquisition would not significantly alter the market dynamics in Matsapha. After this transaction, Conco’s market share in the industrial land sector will see a modest increase from 1.67% to 3.34%.
Marx noted that as the combined market share post-merger remains below 15%, the transaction is classified as phase 1, indicating minimal impact on market competition. Therefore, the merger was approved without any conditions.
In a move set to consolidate its market presence, Elangeni Food Group (Pty) Limited has acquired a 51% shareholding in Emerald Hill (Pty) Limited.
Elangeni Food Group, formerly known as Kikilikigi (Pty) Limited, operates through a cooperative model, with shareholders raising chickens that are processed and marketed by Elangeni Poultry, a wholly-owned subsidiary. This transaction happened in the first quarter of the 2024/25 financial year.
According to the report, Emerald Hill, based at Emerald Hill Farm in Malkerns, exclusively supplies broiler chickens to Elangeni Poultry. The Commission’s analysis revealed horizontal overlaps between the two entities but noted that these were technical in nature, given their existing shareholder relationship.
“As such, the market structure and concentration remain unchanged post-merger. The acquisition, categorized as phase 1, was approved without conditions, ensuring no adverse effects on competition or market entry barriers,” notes the report.