News Leader
WATCH: Behind Vodacom’s new BEE deal
Cellphone network operator Vodacom is embarking on a R17.5bn empowerment deal that will replace its current black economic empowerment (BEE) deal, which is due to unwind in October. Th deal will give shareholders in BEE partner YeboYethu a more direct holding in Vodacom. Vodacome says the new transaction includes a newly formed employee share ownership scheme and will take its BEE shareholding to 20% of the group. CEO Shameel Joosub spoke to Business Day TV about the rationale behind what the company has called the biggest-ever empowerment deal in the country’s information and communications technology (ICT) sector.
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