MTN BEE deal: R20 per share explained

Very useful and interesting article. As an Indian, I will definitely be taking part in this share offer.

Sorry to all my white fellow myBB citizens. It does suck for you. But I really think that this is actually one of the fairest BEE deals. The smallest applications get considered first:

There will be no limit put on the number of shares that can be bought. However, to ensure a broad participation, shares will be allocated to applicants with the least number of Zakhele shares, with individuals prioritised.
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This should ensure that the fat cat BEE boys don't stuff themselves yet again, while leaving the ordinary black citizens with little to nothing. I think the intention is good - and if MTN performs well, alot of ordinary and previously-disadvantaged (PDA) people will see the rewards in 3-6 years time. It also creates a culture of long-term financial planning, and investing for your future, something which many of our fellow black citizens never had the opportunity or finances to do, but need to get into the habit of doing (collectively as a nation).

Of course, a lot of non-PDA people will also score big time, as well as some of the already fat and greedy BEE boys. A small to price to pay....

What other options would you suggest to get the effect of BEE, without the so-callled racist policies of BEE itself, while still being realistic and not creating an administration nightmare?
 
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ToxicWazte said:
Very useful and interesting article. As an Indian, I will definitely be taking part in this share offer.

Sorry to all my white fellow myBB citizens. It does suck for you. But I really think that this is actually one of the fairest BEE deals. The smallest applications get considered first:

This should ensure that the fat cat BEE boys don't stuff themselves yet again, while leaving the ordinary black citizens with little to nothing. I think the intention is good - and if MTN performs well, alot of ordinary and previously-disadvantaged (PDA) people will see the rewards in 3-6 years time. It also creates a culture of long-term financial planning, and investing for your future, something which many of our fellow black citizens never had the opportunity or finances to do, but need to get into the habit of doing (collectively as a nation).

Of course, a lot of non-PDA people will also score big time, as well as some of the already fat and greedy BEE boys. A small to price to pay....

What other options would you suggest to get the effect of BEE, without the so-callled racist policies of BEE itself, while still being realistic and not creating an administration nightmare?
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Basically what they're saying is that your R2k should turn into ~R8K-10K within three years.

So why not put a maximum cap on this deal? That tweaks it towards the lowest segments of the market, not the advantaged folks.

...

But yes. This reversed racism does indeed 'suck'. There's no way I could get any access to investments that are very likely to get ~60-70% growth.
 
Pyro said:
But yes. This reversed racism does indeed 'suck'. There's no way I could get any access to investments that are very likely to get ~60-70% growth.
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As far as I can tell, companies are also entitled to buy. The question you would need to ask them is whether its enough to be black owned, i.e 51% (leaving 49% for you), or the company must 100% black owned. I would guess the former...
 
Heheh, too all my fellow whities, cancel ya MTN contracts when possible, lets see the share price dip below R20!!!!
 
robgun said:
Wish I was black.... They get everything. I get f#@k all as usual.
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Don't wish... if you were, chances are you would have even less than you have now! All you need to do is just look around at the millions of shacks in this country, the lack of sanitation, electricity, poverty & accompanying socia-economic problems in this country, and be thankful to God that you weren't born into such hopeless circumstances on the other side of the fence. I sure am :)
Of course this has nothing to do with MTN deal, which appears to be aimed at the emerging middle-class PDA, to allow the go-getters amongst them who had been held back by the previous system to regain some unfairly lost ground. I much prefer this route of selected BEE initiatives, rather than the unthinkable alternatives. Just my 50c.
 
Black during apartheid, white in the "new" SA.

I got married during apartheid to a black and got reclassified as black, do I qualify to buy the MTN shares at R20? :confused:
 
Qualifying people in the form of Africans, Coloured, Chinese, Indian people and also black entities will be allowed to participate in the deal
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What about Mexican's? And black entities?? Can my dog buy shares?
 
luop said:
I got married during apartheid to a black and got reclassified as black, do I qualify to buy the MTN shares at R20? :confused:
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No, but if you have kids they will qualify. How can a government change a person's race just because they got married?
 
BEE is just racist someone should take them to constunial court this should not be legal.


FROM now on I am only going to employ whites.
 
DipShyte

Qualifying people in the form of Africans, Coloured, Chinese, Indian people and also black entities will be allowed to participate in the deal.
The participants will subscribe for shares through a black investment company to be called MTN Zakhele empowerment scheme (build for yourself).
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Since WHEN are Indians / Chinese classed as AFRICANS ........????????
and
Since WHEN are Africans ONLY BLACK .. ??????

My ancestors came to Africa in 1654 -- I AM an African

Probably got some Cape Slave Lodge blood in me as well which may well include some "Hottentot"


Indentured Asians came to Africa ( Natal mainly) round about 1860

Chinese were also indentured for a short while to work in the Gold Mines -- but were then ALL sent back to China.


Pathetic useless ****ers -- Pathetic useless * DISCRIMINATION * .
 
MidnightWizard said:
Since WHEN are Indians / Chinese classed as AFRICANS ........????????
and
Since WHEN are Africans ONLY BLACK .. ??????
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The term 'African' is legally defined term in the employment equity act, meant to encompass all that were discriminated under Apartheid laws.
MidnightWizard said:
My ancestors came to Africa in 1654 -- I AM an African
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Yes, in the broader sense of the word anyone born on African soil is an African.
MidnightWizard said:
Probably got some Cape Slave Lodge blood in me as well which may well include some "Hottentot"


Indentured Asians came to Africa ( Natal mainly) round about 1860

Chinese were also indentured for a short while to work in the Gold Mines -- but were then ALL sent back to China.
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Maybe true, I'm not sure of that. However, there were others that arrived afterwards over 100 years ago and were subject to Apartheid discrimination and classified as a sub-group of the Coloured racial group according to Apartheid law. The term Chinese in the employment equity act does not include newly arriving Chinese immigrants. It only includes approximately 10,000 South African citizens of Chinese descent who were subject to Apartheid laws up until April 1994.

Depending on the region, Apartheid laws might have been enforced differently. In Cape Town for example, there are and were only 500 South Africans of Chinese descent, and the group was deemed too small to create a specially demarcated area for Chinese people to live in. In fact there were times where Chinese could not buy property anywhere (legally) because they did not fit in anywhere (not being black, coloured or white). It was difficult to be employed by anyone as discrimination was endured by ALL racial groups.
MidnightWizard said:
Pathetic useless ****ers -- Pathetic useless * DISCRIMINATION * .
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Discrimination exists everywhere unfortunately. The BEE legislation is trying to right the wrongs of the past. I would say however, it is now time to do away with looking at helping people based on the colour of their skin and to look at people's economic background instead.
 
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