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September 4, 2008

Vodacom says no to poor whites

Vodacom has admitted its YeboYethu public shares offer - which forms part of its R7.5 billion BEE deal concluded earlier this year - is a means to achieving "acceptable BEE credentials", rather than for the upliftment of poor South Africans.

Responding to accusations by Solidarity trade union that the public offer is racially exclusive, Vodacom said the YeboYethu public offer uses the same requirements as its broad-based BEE deal, and would, therefore, exclude poor white South Africans from applying.

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Posted by StaffWriter at September 4, 2008 2:27 PM