💨 Abstract

The ICT Sector Code, which governs Black Economic Empowerment (BEE) in South Africa, is under review due to pressure from Elon Musk's SpaceX, aiming to launch Starlink. Musk has criticized BEE regulations, particularly the 30% local ownership requirement, labeling them "racist laws." The review includes updating Equity Equivalent Investment Programmes (EEIPs), which allow foreign investors to meet empowerment obligations through investments in skills, enterprise development, or infrastructure.

Courtesy: Megan van den Heever