During the early 1990s, M-Net had a BBEE scheme at R3/share. This was the first of its kind in SA and years later the business was taken over by Naspers. We were given full shares in the new parent company. The cash generated by MultiChoice (its new name) was used by Koos Bekker of Naspers to buy a sizeable stake in Tencent, which is today the largest company in East Asia. Naspers became the largest local listed company on the JSE. During the current financial year, Naspers paid almost R700m to the SA Revenue Service, while MultiChoice is investing billions in local communities and upliftment projects. Over the past few months various publications and television programmes (all from the Tiso Blackstar Group) have had very negative reporting on these companies. For example, the hand wringing enjoyment of Arthur Goldstuck in "viewers streaming away from MultiChoice to Netflix". A few weeks later, Ferial Haffajee (of all people) wrote an extremely disparaging article on MultiChoice, de...
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