South Africa can be tricky terrain if companies fail to find their way through its black empowerment policy
As Bharti gave up the ghost of merging with MTN, the tricky terrain of South Africa’s regulatory framework became clear. Most of the issues like dual listing got ample airtime. But there was one issue that didn’t: Broad-based Black Economic Empowerment (B-BBEE). This was the subtext of “MTN must remain a South African Company” refrain.
(This story appears in the 23 October, 2009 issue of Forbes India. To visit our Archives, click here.)