South African ISPs must have 30% ownership by black people – draft regulations

Quote: The draft regulations propose to set new BBBEE ownership requirements over and above the targets that apply under the ICT Sector Code. These include:

Licence applicants and licensees applying for approval to transfer, amend or renew an individual licence must be 30% owned by persons from historically disadvantaged groups (HDPs), which category includes but is not limited to Black people.

Licence applicants must then also maintain 30% ownership by Black people and achieve level 4 BBBEE status.

Livia Dyer, partner in Bowmans’ Technology, Media and Telecommunications sector group, said it appears that these requirements may apply to applicants for individual licences as well as registrants for class licences.

How do you separate true, equity based owners, from homeless people(who are black) who sign a form? This is commonly done all over the world and when the shit hits the fan, the real directors and officers all resign retroactively - as supported by retro board meets and resolves etc., etc,, leaving the court officers the task of serving summonses on street people, who usually fail to appear and get a default judgement against them - good luck collecting on those judgement... in the mean time, in a Swiss bank, the money proclaims it's innocence...