Motsepe spells out difficulty of retaining mandatory BEE credentials in perpetuity

March 16, 2016

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The difficulties companies have in preventing their mandatory black economic empowerment (BEE) arrangements from unravelling when BEE shareholders sell out is highlighted by top South African business leader Patrice Motsepe’s personal experience of it within his diversified African Rainbow Minerals (ARM) mining company. In presenting ARM’s latest set of interim financial results, Motsepe spent time explaining how many of ARM’s broad-based BEE trust shareholders had opted to dispose of their ARM shares to meet their own personal financial commitments. (Also watch attached Creamer Media video).

Category: General