Vodacom unveils new R17.5BN empowerment deal
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Mobile giant, Vodacom is embarking on a R17.5 billion empowerment deal which will replace the current BEE deal which unwinds in October. This deal will give existing BEE partner, YeboYethu shareholders a more direct holding in Vodacom. The company says that the new transaction includes the newly formed employee share ownership scheme and will take its BEE shareholding to 20% of the group. Shameel Joosub, CEO of Vodacom joined us to discuss the rationale behind what they call the biggest ever empowerment deal in the country's ICT sector.