On Friday 23 May the Minister of Communications and Digital Technologies gazetted a proposed policy direction to the Independent Communications Authority of South Africa (“ICASA”) on B-BBEE. Interested parties are invited to provide written comments on the proposed policy direction within 30 working days of the date of publication.
Click here for the notice
Section 9(2)(b) of the Electronic Communications Act, Act 36 of 2005, provides that individual licences must include the percentage of equity ownership to be held by persons from historically disadvantaged groups, which must not be less than 30%, or such other conditions or higher percentage as may be prescribed under section 4(3)(k) of the Independent Communications Authority of South Africa Act, 2000.
In terms of the gazetted notice, ICASA is directed to consider alignment of the Regulations in respect of the Limitations of Control and Equity Ownership by Historically Disadvantaged Groups with the Amended B-BBEE ICT Sector Codes, effectively allowing an alternative to the 30% equity requirement for foreign multinational companies with Equity Equivalents.
