Musk is not going to give away parts of his company so, perhaps, the empowerment vultures need to accept that.
It’s a good thing Communications Minister Solly Malatsi has explained that it was the regulations of the Independent Communications Authority of South Africa (Icasa) and not the government’s broad-based black economic empowerment rules which are keeping Elon Musk and his Starlink satellite communications company from doing business here.
Not that it makes it any more palatable, but Icasa’s rules for local ownership of telecommunications platforms mean that Musk cannot be offered an Equity Equivalent Investment Programme, which has allowed other multinationals to do business here without having to surrender their shares to locals.
That scheme makes a lot more sense for overseas investors who don’t want to give anyone else control over their assets.
And, as has been pointed out, there are more than 600 foreign companies doing business in South Africa without complaint at present.
However, wouldn’t it make sense to amend the Icasa rules – and Malatsi failed to do so last year – to allow Musk this way in?
It would remove his constant bleating about SA government anti-white racism.
Musk is not going to give away parts of his company so, perhaps, the empowerment vultures need to accept that. There is another, win-win, way for everyone.
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