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. <\/p>\n
Vodacom today announced that transaction agreements were signed with both parties on 20 June 2008.<\/p>\n
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. <\/p>\n
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.<\/p>\n
“The signing of the transaction agreements is a further positive step forward for the broad-based BEE transaction,” Vodacom said.<\/p>\n
Vodacom will be announcing the details of the broad-based BEE transaction in the third quarter of this calendar year. <\/p>\n
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%).<\/p>\n