subscribe: Daily Newsletter

 

More delays for Vodacom’s BEE deal

0 comments

A lack of broad-based BEE participants could cause further delays in Vodacom's BEE negotiations. 

According to Business Report, the consortium formed by Bulelani Ngcuka, Amandla Omoya, has come under fire for not being broad-based enough – although some sources believe it could be because of Ngcuka's political connections.
Amandla Omoya includes Mowana Five Mile, AKA Capital, PTA and Ngcuka's Vuwa Investments.
The deadline for Vodacom's BEE deal would probably slip from next month's target, having already taken more than two years to conclude.
Spokesman Dot Field told Business Report that the deadline would probably be missed as a result of new directives, as well as changes in the structures of some of the consortiums bidding for the BEE stake.
About 60 consortiums are bidding for the Vodacom deal.