Just a bit of South African context. In South Africa, in order to get a telcoms licence, you have to comply with BBBEE (Broad Based Black Economic Empowerment requirements. Basically, you have to sell 30% (soon to be 51%) of your company to a local black owner. This is in addition to DEI requirements.
For most businesses, these requirements are not mandatory to exist and operator, but gives you a bidding advantage for government contracts. For example, Microsoft, amazon and Temu can operate here, because they dont need any special licences.
It can be argued that such legislation was necessary to incentivise business to diversify their employment and ownership to those previously excluded.
BUT, the way it is implemented, there is a huge emphasis on black ownership for various sectors. What will basically happen is a business needs to acquire a license from a government department. These licenses would only be granted if you give ownership of your company to the “appropriate” investor. Invariably someone connected to the government. They determine the price and basically get gifted portions of companies.
So what has basically happened is that this legislation only effective portion these days, is to enrich the politically connected.
So basically Elon is not wanting to pay the bribes necessary to get the required license to operate.
I Hate the buffoon, but on this he is correct.
Godort@lemm.ee 2 days ago
No, you don’t understand. He’s rich and white, so he shouldn’t be subject to those pesky regulations.
That’s how it works in the US, so obviously that’s how it should work in South Africa too.
TheProtagonist@lemmy.world 2 days ago
Laws for thee, nor for me!
EisFrei@lemmy.world 2 days ago
The exploited - Law for the rich
www.youtube.com/watch?v=E9XKVighdz8