Vodacom has chosen Royal Bafokeng Holdings and Thebe Investment Corporation as partners in its broad-based black economic empowerment (BEE) deal, the company said on Thursday.
The transaction agreements were signed earlier this week, said spokesperson Dot Field in a statement.
Vodacom will announce the details of the BEE transaction in the third quarter of this year. It will include three groups — Vodacom staff will have a 25% stake, the black South African public and Vodacom black business partners 30% and ”broad-based strategic partners” 45%.
Royal Bafokeng Holdings is the primary investment vehicle of the Royal Bafokeng Nation, a 300 000 strong community in the North West.
Thebe Investment Corporation is a diversified investment management company. Its main shareholder is the Batho Batho Trust, a community-based organisation established to promote the social and economic development of black people and women. — Sapa