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DEALMAKERS [Page 54-55]

MTN'S SHINING EXAMPLE MTN's BEE Transaction, dubbed MTN Zakhele (a Xhosa word with the ironic meaning of 'build for yourself ), is about as broadbased as empowerment can ever hope to be. In October 2010, the cellular behemoth invited black South African investors to participate in the acquisition of up to 4% equity ownership in the listed holding company. intention to use a portion of MTN SA shares previously owned by Newshelf (Newshelf Unwind) to facilitate a new MTN SA BEE Transaction. within society and how this may impact on profitability looking ahead. Nhleko's comments echo this new approach that would undoubtedly have the late Milton Friedman, Nobel Prize-winner and leading monetarist, turning in his grave. Until December 2008, MTN South Africa (MTN SA) obtained the majority of its However, the implementation was delayed by a little over a year due to severe constraints in financial markets at the time of the Newshelf unwind.

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