Vodacom BEE deal signed
In April Vodacom announced that Royal Bafokeng Holdings and Thebe Investment Corporation had been selected as its preferred strategic partners to participate in Vodacom South Africa’s broad-based BEE transaction.
Vodacom today announced that transaction agreements were signed with both parties on 20 June 2008.
Royal Bafokeng Holdings is the primary investment vehicle of the Royal Bafokeng Nation, a 300 000 strong broad-based black community situated in the North West Province.
Thebe Investment Corporation is a diversified investment management company. Thebe’s main shareholder is the Batho Batho Trust, which is a community-based organisation, established to promote the social and economic development of black people and women.
“The signing of the transaction agreements is a further positive step forward for the broad-based BEE transaction,” Vodacom said.
Vodacom will be announcing the details of the broad-based BEE transaction in the third quarter of this calendar year.
This will comprise three participant groupings being Vodacom South African staff (25%), black South African public and Vodacom black business partners (30%) and broad-based strategic partners (45%).
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