Elon Musk backlash over Starlink deal in South Africa
The post Elon Musk backlash over Starlink deal in South Africa appeared on BitcoinEthereumNews.com. The South African government has drawn heavy criticism for its proposal to loosen its Black Economic Empowerment (BEE) laws to accommodate Elon Musk’s Starlink. Elon Musk exited the White House and immediately got himself caught up in more political drama, this time in his home country of South Africa. The South African government is reportedly in the process of loosening its empowerment laws to accommodate Starlink, a feat that the South African telecom company, Vodacom failed to achieve. Backlash over Starlink deal The South African government has proposed to loosen its Black Economic Empowerment (BEE) laws to accommodate Elon Musk’s Starlink. This proposal has sparked public outrage and caused opposition parties to accuse the acting government of striking a “backdoor deal” to give the US tech giant preferential treatment. Under existing regulations, telecom companies are required to sell at least 30% of their local equity to historically disadvantaged South Africans to operate in the country. The government intends to loosen the laws just enough to allow telecom companies to bypass that strict 30% Black ownership requirement by investing in alternative empowerment initiatives. The government has been under pressure to improve internet access and modernize telecommunications, and argues that the law change is part of its economic reform strategy. Critics have warned that the government’s decision sets a dangerous precedent by prioritizing foreign capital over domestic equity. Opposition parties like Build One South Africa (BOSA) and the Economic Freedom Fighters (EFF) are leading the growing backlash against the government’s proposal. The BOSA deputy leader, Nobuntu Hlazo-Webster, said that the party has formally requested a public record of the decision from parliament to ensure transparency. “The message being sent is that if you are a powerful foreign billionaire, you can sidestep South Africa’s laws, while our local businesses are forced to jump…
The post Elon Musk backlash over Starlink deal in South Africa appeared on BitcoinEthereumNews.com.
The South African government has drawn heavy criticism for its proposal to loosen its Black Economic Empowerment (BEE) laws to accommodate Elon Musk’s Starlink. Elon Musk exited the White House and immediately got himself caught up in more political drama, this time in his home country of South Africa. The South African government is reportedly in the process of loosening its empowerment laws to accommodate Starlink, a feat that the South African telecom company, Vodacom failed to achieve. Backlash over Starlink deal The South African government has proposed to loosen its Black Economic Empowerment (BEE) laws to accommodate Elon Musk’s Starlink. This proposal has sparked public outrage and caused opposition parties to accuse the acting government of striking a “backdoor deal” to give the US tech giant preferential treatment. Under existing regulations, telecom companies are required to sell at least 30% of their local equity to historically disadvantaged South Africans to operate in the country. The government intends to loosen the laws just enough to allow telecom companies to bypass that strict 30% Black ownership requirement by investing in alternative empowerment initiatives. The government has been under pressure to improve internet access and modernize telecommunications, and argues that the law change is part of its economic reform strategy. Critics have warned that the government’s decision sets a dangerous precedent by prioritizing foreign capital over domestic equity. Opposition parties like Build One South Africa (BOSA) and the Economic Freedom Fighters (EFF) are leading the growing backlash against the government’s proposal. The BOSA deputy leader, Nobuntu Hlazo-Webster, said that the party has formally requested a public record of the decision from parliament to ensure transparency. “The message being sent is that if you are a powerful foreign billionaire, you can sidestep South Africa’s laws, while our local businesses are forced to jump…
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