namibian sovereign risk, page-2

Skip,
forgive me being a cynic but this BEE thing seems to be developing into something far better than the brown envelope - I sincerely hope that those who are meant to benefit will - in practice of course history tells us they won't - Animal Farm and all that.
Although this BEE could be used to introduce some fairness in resource exploitation, although I doubt it ever was - The words now being used "Namibia's proposed law to force mining companies to yield 25 percent of their shareholding to black investors" appear all well and good provided that Shareholding is going to be purchased at fair market value and that cash redistributed to existing shareholders - but I read "yield" as the brown enveope with no money being paid for the 25% ie state sponsored theft - Zimbabwe's finished long live Zimbabwe - trouble is that although i'm sure mining cos would be amenable to a fairer royalty, taxation regime to benefit the country being exploited - however those in power in said country couldn't give a toss about their country or their fellow man. It now appears that the "well meaning" BEE initiative that they put in place is now be used for it's proper purpose - to ensure not only the survival of the brown envelope but even bigger ones - possibly the size of dustcarts - to be handed over under this "new guise of respectability"