Proposed BEE legislation!!
Are they joking, they want to put into legislation that 25% of a Namibian mining company's shares must have belong to black shareholders.
At the moment Namibia is seen as a fair and reasonable place to do business and billions of dollars of investment that will employ locals will keep Namibia wealthy for the next 100 years but this proposed legislation will nip it in the bud quickly.
There is no reason why Namibians cant be major shareholders in any company including BMN but lets make sure they do it at fair market value and lets keep colour out of it.
Its an obscene idea to bring race into it on a legislative level in this day and age unless we want to take a giant step backwards.
namibian sovereign risk, page-10
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