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Vodacom prioritises BEE

Nicola Mawson
By Nicola Mawson, Contributor.
Johannesburg, 14 Nov 2006

SA-based cellular provider Vodacom has started moving down the road towards a black economic empowerment (BEE) transaction.

Presenting the group's interim results yesterday, CEO Alan Knott-Craig said the company aimed to complete a BEE transaction by the end of 2007.

He added the deal could be one of the largest BEE equity transactions in the country.

Vodacom is being guided in this endeavour by the Department of Trade and Industry's (DTI's) codes of good practice, as well as the draft ICT charter, he said.

The ICT industry's charter is ready to be gazetted, but has been held up by delays at the DTI.

Once the DTI publishes its codes, it is expected the industry will be able to tweak the charter and publish it. This is expected to happen in the next few months.

Knott-Craig would not reveal any further details of the transaction, except to say it would be a key focus area for the next 12 to 13 months.

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