Inside the MultiChoice City building in Randburg, Johannesburg. MultiChoice, which is being bought by Canal+ in a $3 billion deal, has received all the approvals it needs to restructure the company, ensuring the new entity has empowerment shareholders. The purchase amount currently equates to R52.2 billion, based on this morning’s exchange rate of R17.36. In…
Former Dimension Data chairman Jeremy Ord and Sonja De Bruyn, co-founder of Identity Partners. A war of words has broken out between former Dimension Data (DiData) executives and their former empowerment partner, Identity Partners, over the sale of The Campus office park in Bryanston, Johannesburg. Tensions escalated after former executives – Jeremy Ord, Grant Bodley,…
Communications minister Solly Malatsi The Internet Service Providers’ Association (Ispa) has voiced its support for communications minister Solly Malatsi’s plan to reform empowerment rules in ICT sector licensing. A draft policy direction by Malatsi calls for the introduction of equity equivalents in licensing so companies don’t have to sell equity to black investors and can…
Cyril Ramaphosa. Image: GCIS Among the most salient features of South Africa’s empowerment laws are their practicality, feasibility and responsiveness to economic conditions without deviating from the objective of redressing the economic injustices of exclusion of the past. This stems from the need to meet two separate but interdependent objectives. The first is to achieve…
President Cyril Ramaphosa President Cyril Ramaphosa has voiced his support for the process undertaken by communications minister Solly Malatsi to introduce equity equivalent investment programmes (EEIPs) in the ICT sector. Malatsi in May published a draft policy directive, which he intends issuing to Icasa, urging the communications regulator to investigate how EEIPs, which are already…
