Vodacom unveils BEE partners

28 Apr 2008

Vodacom South Africa has selected Royal Bafokeng Holdings and Thebe Investment Corporation as preferred strategic partners for a black economic empowerment (BEE) deal worth ZAR7.5 billion (USD976.7 million). Under Vodacom’s BEE pledge, its black employees will be offered 25% of the ZAR7.5 billion stake, 30% will be sold to the public and Vodacom business partners, and 45% will be offered to the strategic partners, both of which are part of black-owned community groups. More details of the public sale will be announced in June, Reuters reports. Vodacom is South Africa’s largest cellco in terms of subscribers, with 24.26 million customers and a 55% market share at the end of December, according to TeleGeography’s GlobalComms database.

South Africa, Vodacom Group