The Ministry proposed to recognize alternative investment forms called “equivalents of participation in capital” in the information and communication technologies sector. Such a measure can open doors not only Starlink, but also to other foreign companies that have previously faced obstacles due to local legislation.
According to the current laws, foreign companies working in the field of communication are required to transfer 30% of the shares of South African branches to the representatives of the depressive population. This caused the criticism of Starlink and other foreign players because it made it seriously difficult to enter the market.
However, the minister stressed that the transformation of the economy and equality support remained priority and that deviations from this course are impossible. He made sure that the attempt to invest in investment equivalent did not aim to create the preferences of any separate company.
Source: Ferra
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