Department of Trade and Industry
7 May 2019
Broad-Based Black Economic Empowerment (BBBEE) Facilitator Status has been granted to Telkom.
The trade and industry department announced the designation in Government Gazette 42448.
The department called for comment on the intention to grant Telkom SA SOC Limited BBBEE Facilitator Status in February 2019.
According to the earlier notice, Telkom will use the Facilitator Status to speed up transformation in the ICT sector.
The Facilitator Status is granted to government as represented by the presidency for the full shares of 40.50% held in Telkom.
The amended BBBEE Codes of Good Practice empower the trade and industry minister to designate certain Organs of State or Public Entities as B-BBEE Facilitators.
This means that any entity doing business with Telkom must regard it as 100% Black owned.
The status is granted for ten years effective from the date of signature namely 5 April 2019.