The Minister of Communications and Digital Technology, Solly Malatsi has proposed changes to the triple-BEE policies that could pave the way for an investment by Starlink in South Africa.
The government gazette released by the minister proposes amendments that relate to the 30 equity requirement for previously disadvantaged individuals for all new investment in the ICT sector.
In a statement released on Friday, the department says the changes are aimed to attract investment, specifically with regard to licensing for broadcasting, internet service, mobile network and fixed and mobile networks.
The draft policy proposes equity equivalent investment programme, which allows multi-national companies to meet empowerment requirements through other alternatives without complying with the ownership obligation.
Currently, the rules around who can acquire license in the ICT services require a minimum of 30 in the hands of historically disadvantaged individuals. Equity equivalent investment programmes provided under Broad Based BEE and ICT sector codes, allow qualifying multinationals to meet empowerment obligations such as investing in local suppliers, enterprise development and skills development and job creation, research and innovation. Therefore, this policy directive aims to ensure consistency, unlock investment and give practical effect to the ICT sector codes in line with national development goals including transformation, explains Malatsi.