Finance / South Africa
Vodacom To Sell ZAR7.5bn In BEE Share Sale
March 2008 | Top StoriesVodacom Group, South Africa's biggest mobile-phone company, has recently announced that it has shortlisted investors for its share sale worth ZAR7.5bn. The sale is expected to take place in Q408 and further details will be announced in Q308. The deal is unique as it will be one of the largest Black Economic Empowerment (BEE) transactions to date. In 2004, the South African government passed an Act which created the BEE programme. The programme encourages companies to make stakes available to black South Africans in an effort to increase economic equality.
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