Hi All.
I am eyeing an inverter that despite reasonable specifications, only outputs 220v via 3 prong plug sockets.
If I would like to run my household lighting off of it, it would mean that I will need to take the output (3prong plug) and wire it into the lighting circuit of my DB board.
....
Could you post a link to the inverter? I suspect that there's a bit of confusion here as to the output sockets.
As to your question - if you wire it on the supply side of your lightning circuit's circuit breaker, it means that it sits on the same supply rail that supplies your other circuits (socket outlets, probably oven, probably geyser), so you'll overload the inverter. Even more worrying - it will be on the wrong side of the earth leakage, meaning that you don't have any protection against electrical shock. (*1) So, unsafe.
If you wire it on the load side of your lighting circuit's breaker, you can isolate the inverter from the rest of the house. However, the lighting circuit will have no overcurrent/short circuit protection. So again, unsafe.
The correct way to wire this will be put a transfer switch between your incoming Eskom feed and your earth leakage, and to connect your inverter to that. You'll be able to overload your inverter if you don't switch off circuits like the geyser, but your circuits will be protected against overcurrent/short circuits and you'll have earth leakage protection.
All that said, for work in your DB get out a qualified electrician. Legally, you're not allowed to work on your house's electrical installation if you're not qualified. From a safety perspective - if you have to ask the question you asked, you simply do not have the required background to do the wiring safely yourself.
(*1) - circuit breakers protect the cable that they're connected to against short circuits or over-current. They're there to prevent your house from catching fire. They do not protect humans against electrical shock. That's the job of the earth leakage.