B-BBEE ICT Sector Council chairperson relieved of duties following damning allegations

[Luis]

BEE council held back investments from IBM and Oracle in South Africa

The chairperson of the B-BBEE ICT Sector Council has been "relieved" after the entity was found to have mismanaged Equity Equivalent Investment Programme (EEIP) applications from IBM and Oracle.

IBM's application was to top up the American technology company's previous R700 million investment, which it first made in 2015.

 

[lotus123]

So basically, they're squeezing tech vendors for cooldrink money, and fscking that up too. You can't make this 5h1t up, but they'll make it happen.

 

[ToxicBunny]

I'm sure nobody could ever have seen this coming.

 

[ThinkCentre]

We can start thinking of making a movie called "Carry-on BEE"! It will be a classic in no time!

 

[RedViking]

Amanda Vavi !

 

[Carl_Johnson]

B-BEE the same system that gave us this little gem....

 

[Fuzzbox]

BEE first.

Nothing else matters.

 

[GrootVoet]

This is reason why our economy is performing so poorly - all these councils which sole job it is to make it as hard as possible to do business in South Africa - this is not investor friendly.

 

[Quixotic]

Obviously BEE recruits. ANC cannot manage EVEN when processes are in place. Just make things up as they go along anyway or wait for the incentive (aka bribe)