Reg Rumney

The BEE in Telkom’s bonnet

The company illustrates the poor record of parastatals in black economic empowerment at the ownership level.

Adcock’s BEE deal

The company's black workers and trusts are the beneficiaries in a vendor-financed scheme that sees them getting a 25% share of the company.

Cellphone operator makes a call

A new MTN deal lights a spark of hope that all the big BEE transactions may not be over yet.

No big deal

The value of black empowerment deals this year so far, is less than half that of 2008.

Cash from year one in Vodacom’s BEE offering

One big difference between the Vodacom retail offering and that of Sasol is that there is no option to buy shares outright for cash.

PIC funding disinvestment?

The Public Investment Corporation has supplied the money for two of the biggest disinvestments from South Africa since the apartheid era.

BEE’s bid for the news

The bid by Koni Media to buy Avusa, formerly Johncom, has highlighted a long-time BEE fascination with newspapers. From a business point of view, there are other lucrative and less troublesome areas for investment and BEE investors need cash flow to pay back the money they have raised, writes Reg Rumney.

Boon or curse?

BEE charters and the broad-based BEE codes of good practice might move corporate social investment (CSI) into the boardroom as a serious subject of discussion. The codes represent a kind of supercharter, with which all charters will have to be "aligned". Industries and businesses are scored according to a balanced scorecard with seven elements, of which socio-economic development or CSI is one.

Lessons from Zimbabwe

Our northern neighbour is in the process of passing an "empowerment Bill" to force transfer of the majority stake in private companies to black Zimbabweans. Though this is indigenisation rather than empowerment in the South African sense, it raises interesting parallels with South Africa's draft Mining Charter, which led to the outflow of billions of rand in foreign investment.

Platinum catalyst for Anglo

The new-look Anglo American Corporation was very much on display at the announcement last week of one of two of the biggest black economic empowerment deals in South African mining -- and a real advance for black ownership of platinum reserves.

BEE’s sharpest tool

Black Economic Empowerment (BEE) ownership deals get the most attention, but their capacity to change the racial bias in the South African economy seems to be limited. Preferential procurement, however, is the sharpest tool in government's transformation armoury. But it could also increase corruption and cronyism, writes Reg Rumney.

MTN’s shares: going for a song?

National Empowerment Fund chief executive Philisiwe Buthelezi has described the fund's offer of discounted shares in MTN as "unique, exciting and historic". There have been other retail offerings reserved exclusively for black people over the years, most recently Telkom's Khulisa scheme.

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