’Black Empowerment’ law stalls Elon Musk’s $113 million investment in SA

Elon Musk’s company Starlink is eyeing major investment in South Africa as it tries to work around Black ownership law.

The satellite manufacturer is looking to spend 2 billion Rand ($113 million) to expand broadband access in the Southern African Development Community region, according to The Africa Report.

However, the business venture has been stalled by South Africa’s Broad-Based Black Economic Empowerment law (B-BBEE).

The…