Multichoice MNET Racist share schemes

[Skeptik]

IMO that would constitute fraud, and Multichoice could then later invalidate the sale of shares to someone doing this, as well as claiming back dividends that had already been paid out...

You have to sign a declaration saying you are eligible for the scheme, so you would be open to prosecution if you tried such a thing. I would be interested to see what would happen to a very light-skinned mixed race person who handed the forms in at the post office.

Apparently the shareholder has to keep them for 5 years and cannot then sell them off to a white person. This indicates that this BEE will be with us for the forseeeable future. Maybe someone will challenge this nonsense through the courts?

One contradiction is that non-white people are allowed to buy 14 MILLION shares (or is it Rands?) worth. If you can afford that much, can you really claim to be disadvantaged (previously or presently)???

 

[Fiekus]

One contradiction is that non-white people are allowed to buy 14 MILLION shares (or is it Rands?) worth. If you can afford that much, can you really claim to be disadvantaged (previously or presently)???

what if 1.4 million of those disadvantaged people buys R100 worth of shares each?
There's more of them hey? so what's the contradiction?

Okay I know there's a minimum of like R100 or so but still.

 

[Syndyre]

The big question is, how do you define race? I mean if I were to say I'm coloured, how are they going to "prove" I'm not? Imagine taking someone to court for lying about their race, it'd be a farce. Seeing as there are no longer legal documents that state your race how can they really prove anything.

 

[Milano]

I asked the guy on their 0860 number what criteria are used for determining race but he couldn't answer me.

I don't think they even care because they know that white South Africans had their testicles removed years ago and will no longer question anything - even blatant racism.

It is very interesting because this is not about shares - It is about race. It means that the guy on 0860-share number is thinking about and trying to determine your race, the staff member at the Post Office will be thinking about and trying to determine your race, the person that re-sells the shares will be thinking about and trying to determine the buyer's race. That is absurd and is breeding a racist culture in South Africa. This is not about shares, it is about racism and it is unacceptable.

When I asked to buy shares, I am being judged over the telephone and being told I am the wrong colour based on my voice. What is the scientific basis of that test?

 

[kilo39]

Racism knows no colour. It is a philosophy of difference and xenophobia.

The more things change the more they stay the same.

The policies of this government are as racist as any promulgated by apartheid.

Now what shall we call it (apartheid has already been taken?)

 

[jontyB]

Maybe someone will challenge this nonsense through the courts?

On what grounds? This is protected in the constitution.

O/T. It always amazes me how everyone always thinks SA has one of the best constitutions in the world, yet we have a constitution that contains and protects specifically discrimatory ideologies.

 

[cyberarmy]

And they use white people in the AD to window dress such action......Pretend it's offered to all people in SA infact not!

 

[jontyB]

And they use white people in the AD to window dress such action......Pretend it's offered to all people in SA infact not!

Interesting - that constitutes false advertising. We should complain.

 

[kilo39]

On what grounds? This is protected in the constitution.

O/T. It always amazes me how everyone always thinks SA has one of the best constitutions in the world, yet we have a constitution that contains and protects specifically discrimatory ideologies.

Example please jontyB?

 

[fivelza]

Can someone please explain what the big deal is, this is a different slant on BBBEE, instead of the shares going into a trust (for black people) they are offering them to black people only and publicising it. The end result is the same!

For those who are voting with their pocket, go right ahead, but then please be consistent and stop buying from Massmart (Game, Makro etc) or any company that has BEE deal in place

 

[Farquaon]

I think multichoice is discriminating, and yet the cant wait to take their pound of flesh off my white ass.

 

[fivelza]

I think multichoice is discriminating, and yet the cant wait to take their pound of flesh off my white ass.

Off course they are, welcome to the new South Africa

 

[furnic]

The BEE Commission defined BEE as a strategy aimed at substantially increasing black participation at all levels in the economy. The strategy tries to redress the imbalances of the past by transfering more ownership, management and control of South Africa's financial and economic resources to the majority of its citizens. It also aims to ensure broader and meaningful participation in the economy by black people.

Can someone please explain what the big deal is

There is absolutely no problem in a company trying to recruit more black share holders, or being BEE, which means it has over 25% black shareholders - so if you need and want to encourage black share holders, do all out advertising, send your sales staff to the malls, set up stands, do what ever is neccessary - but don't make a policy that discrminates based on race and have a specific clause that says whites are not allowed - to ever own or buy, based on race.

No where does BEE stand for discrimination - Well done to Massmart and any other company that have managed to get 25% or more black investment and shareholders - this is not the same.

What about Asians by the way - the wording says blacks - and they define this as blacks, coloureds or indians? Lets continue, how about if you are from the middle east, and have olive toned skin,? and so on and so on.

Do NOT confuse BEE with racism - that is what Multichoice and Media24 have done. There is nothing wrong with the concept of BEE, the way they have gone about doing it is, so please, if this bothers you, do the minimum and call them, 0860116226 0112893576.

Read what Daryl Ilbury had to say in Saturday Star at www.darylilbury.com

 

[Darth Garth]

But my mother has shares in Naspers/Media24, those were original shares that my grandfather bought when they started up, to help them get off their feet. Now the same people cant even buy their shares when they started the company off in the first place..

Nasionale Pers certainly did not offer black people the chance way back then to own shares in it (it was for white Afrikaners only) and certainly your grandfather did not bat an eyelid or protest about it or it bothered him that much.

But you are all are just a bunch of ****ing whinging hypocrites when a missed opportunity is now given to other South Africans that missed out in the past due to their skin colour.

Talk about getting your cake and eating it as well ... unbelievable !!!!.

 

[kilo39]

Talk about getting your cake and eating it as well ... unbelievable !!!!.

LOL @ tibby

(whatever the ethical issues)

 

[Syndyre]

Nasionale Pers certainly did not offer black people the chance way back then to own shares in it (it was for white Afrikaners only) and certainly your grandfather did not bat an eyelid or protest about it or it bothered him that much.

But you are all are just a bunch of ****ing whinging hypocrites when a missed opportunity is now given to other South Africans that missed out in the past due to their skin colour.

Talk about getting your cake and eating it as well ... unbelievable !!!!.

How does a normal offering where its open to everyone not allow other South Africans an opportunity? And if it was indeed for white Afrikaners only why am I, being English, excluded from the offer this time around?

What about people such as the Chinese who weren't "white enough" under apartheid and now aren't "black enough" under the new government.

 

[RichardP]

<theory> It has nothing to do with "empowering" .... Multichoice have applied for new licenses to ICASA recently and having a "monopoly" status the shares scam is just a high-profile way of BUYING the government and ICASA... playing the 'we are there for the community' card is very powerfull <.theory>

 

[Syndyre]

Now let's wait for the response!

 

[Getafix]

Nasionale Pers certainly did not offer black people the chance way back then to own shares in it (it was for white Afrikaners only) and certainly your grandfather did not bat an eyelid or protest about it or it bothered him that much.

But you are all are just a bunch of ****ing whinging hypocrites when a missed opportunity is now given to other South Africans that missed out in the past due to their skin colour.

Talk about getting your cake and eating it as well ... unbelievable !!!!.

@tibby

Are you batting your eyelids now?

What is the difference between "no non whites" and "no whites"?

Are you condoning it?

May I quote you in 40 years time:

"But you are all are just a bunch of ****ing whinging hypocrites when a missed opportunity is now given to other South Africans that missed out in the past due to their skin colour."

 

[ShockG]

You'll are a depressing lot.
You would not have wanted shares in multichoice before and you probably couldn't have cared for them. Now all of a sudden because you're told you can't have them it's a problem.

Sigh...