Latest news with #EquityEquivalentInvestmentProgramme
SowetanLIVE
29-07-2025
- Business
- SowetanLIVE
Samsung opens its third call for black-owned tech SMM enterprises
Samsung and the department of trade, industry & competition have launched the third call of their R280m Equity Equivalent Investment Programme (EEIP), first introduced in 2019. Black-owned ICT and service centre SMMEs can now apply to join the 2024 Enterprise Development (ED) programme. The Samsung ED programme aims to empower black-owned ICT and service centre enterprises to boost the economy and create jobs through entrepreneurship and business support. This involves initiatives such as grant funding, specialist business development support and access to supply chain opportunities for black- and women-owned SMMEs. This programme's efforts are aligned with the country's transformation goals and aim to foster a more inclusive economy. Testimonials from the programme's beneficiaries To inspire potential future participants, coupled with Samsung's need to measure the impact and effectiveness of its CSR initiatives, the company spoke to two beneficiaries of the ED programme. Thoriso Rangata, a 32-year-old businessman and the owner of KTO Digital, says he gained the reassurance and confidence he needed from being part of the programme. KTO Digital focuses on business process automation, software development services, and background screening software as a service (SaaS) solutions. Based in Johannesburg, originally from Limpopo, Rangata responded to a public call for applications in 2020. At the time, his business needed support to meet the company's growth objectives. Ranagata is a true example of how the programme is empowering ICT entrepreneurship, stimulating job creation, and helping contribute to economic growth. Since being part of the EEIP programme, KTO Digital won the Nedbank Business of the Year Award in 2022, and in the same year, launched its own product and received accreditation as a credit bureau business. Since 2021, his business has created over 20 jobs, in line with the programme's objective of creating both direct and indirect jobs, with a particular emphasis on black-economic empowerment and developing the township economy.
The Citizen
22-07-2025
- Business
- The Citizen
Samsung EEIP calls for eligible ICT enterprises to apply for the ED Programme
Encouraging black-owned ICT enterprises to be part of the 2025 transformative SMME Development Programme South Africa – 17 July 2025 – Samsung in collaboration with the Department of Trade, Industry and Competition (DTIC) has opened its third call, inviting all suitable, black-owned ICT and Service Centre SMMEs to apply for participation in this year's Equity Equivalent Investment Programme (EEIP) for Enterprise Development (ED). Samsung's R280-million worth EEIP, which was launched in 2019, has managed to demonstrate considerable success since its inception. In its six years of sustained success, this year represents the 3rd edition of the programme and seeks to continue making a measurable difference to the socio-economic development of black South Africans. This year's call follows two successful cycles and forms part of Samsung's broader commitment to the ICT sector, SMME development and the government's Vision 2030. Importantly, this transformative SMME Development programme aims to empower black-owned ICT and Service Centre enterprises, while also ensuring that Samsung fulfils its contractual obligations to the DTIC. Local small businesses in the ICT and Service Centre space have an opportunity to take their businesses to new heights with the Samsung EEIP. Nicky Beukes, Samsung EEIP Project Manager said: 'This programme has in the last few years seen great success and has also had a positive impact in the lives of entrepreneurs in the ICT space. As part of our transformation objectives, our EEIP programme continues to contribute to the sustainable development goals of the National Development Plan (NDP).' Importantly, through Samsung's collaboration with the DTIC – these partners remain committed to making a positive contribution to broader economic growth and, to continue playing a significant role in both job creation as well as sustainable entrepreneurship opportunities within South Africa. Beukes added: 'And together with the DTIC, we have in the last few years re-affirmed our commitment to ICT development and economic transformation which are aligned to South Africa's Vision 2030. This third edition of EEIP and its success to date, is a clear indication that Samsung's significant investment in SMME development is yielding tangible results.' This third, consecutive call to all black-owned SMEs in the ICT and Service Centre space across South Africa is a great opportunity for the country's ICT SMMEs to grow and shape the future of their businesses through this Samsung ED Programme. For more information on how to respond to the call and apply, Visit our Main page: Samsung EEIP | Enterprise Development | Samsung South Africa Application form: Samsung EEIP Application for Enterprises | Samsung South Africa
IOL News
22-07-2025
- Business
- IOL News
Samsung opens third call for black-owned ICT and service centre businesses in South Africa
Samsung and DTIC open EEIP applications for black-owned ICT businesses, Image: Supplied Image: Supplied In a significant boost for South Africa's small business landscape, Samsung, in collaboration with the Department of Trade, Industry and Competition (DTIC), has opened the third call for eligible black-owned ICT and Service Centre small, medium and micro enterprises (SMMEs) to participate in this year's Equity Equivalent Investment Programme (EEIP) for Enterprise Development (ED). This initiative represents a continued investment of R280 million to empower local businesses and promote socio-economic development. Since its inception in 2019, the EEIP has witnessed notable achievements, cementing its role as a powerful catalyst for the advancement of black entrepreneurs within the ICT sector. As part of Samsung's enduring commitment to harnessing the potential of SMMEs, this year's third edition of the programme seeks to build upon the success of its predecessors while aligning with the government's Vision 2030. Nicky Beukes, Samsung EEIP Project Manager said, "This programme has in the last few years seen great success and has also had a positive impact in the lives of entrepreneurs in the ICT space. As part of our transformation objectives, our EEIP programme continues to contribute to the sustainable development goals of the National Development Plan (NDP)." Image: Supplied With a keen focus on economic transformation, Samsung's initiative stands as a testament to the potential of black-owned enterprises within the South African ICT landscape. By inviting local small businesses to join this programme, the EEIP offers a unique platform for entrepreneurs to elevate their operations and drive innovation. Beukes elaborated on the partnership with the DTIC, saying, 'Together with the DTIC, we have in the last few years re-affirmed our commitment to ICT development and economic transformation which are aligned to South Africa's Vision 2030. This third edition of EEIP and its success to date, is a clear indication that Samsung's significant investment in SMME development is yielding tangible results.' Image: Supplied The call for applications is open to all black-owned SMMEs in the ICT and Service Centre sectors across South Africa, reflecting Samsung's unwavering dedication to driving growth and fostering an inclusive entrepreneurial ecosystem. This initiative not only serves to uplift SMMEs but also plays a pivotal role in job creation and sustainable development across the region. For those interested in seizing this opportunity to propel their businesses into new horizons, additional information on how to apply can be found at
IOL News
02-07-2025
- Business
- IOL News
Elon Musk's Starlink will have to wait for years – or find a way around B-BBEE laws ahead of G20
President Cyril Ramaphosa denied harbouring ideas of relaxing economic transformation laws to benefit tech billionaire Elon Musk after his recent visit to the US. In his recent weekly letter to the nation, Ramaphosa reaffirmed South Africa's commitment to broad-based economic policies that are central to fostering inclusive and sustainable economic growth. Image: Presidency Pretoria-born tech tycoon Elon Musk will have to wait for about two years before his Starlink satellite internet company can legally enter the South African market – a vital area for the service to operate optimally in the region. Starlink – already available in a number of Southern African Development Community (SADC) and other countries on the continent – is reportedly aiming to launch its services in SA ahead of the G20 conference hosted by South Africa and opening in November. But the company still intends to bypass the Broad-Based Black Economic Empowerment (B-BBEE) law and its 30% previously disadvantaged individual ownership laws that Musk has labelled as 'racist', preferring instead to go the Equity Equivalent Investment Programme route, which on its own is not enough to be granted a licence. 'The wheels of government don't mill that fast,' said Paul Colmer, an executive committee member of the Wireless Access Providers' Association (WAPA), a non-profit wireless industry association established in 2006. Speaking to the Pretoria News on Wednesday about their 2025 WAPALOZA conference held in Muldersdrift near Johannesburg from June 23-25, Colmer estimated that it would take about two years for the Electronic Communications Act to be amended. He based this on a presentation by a legal practitioner who made a presentation at the conference. He said as things stood, to 'sidetrack' the B-BBEE requirements there would need to be a change in legislation, which is a 'long process'. There were other ways Starlink could speed up its entry into South Africa, including through partnering with local entities that already have the required B-BBEE status, but Musk and Starlink reportedly "really, really do not like the idea of middle-men". The company and its representatives have also been accused of using Musk's proximity to US President Donald Trump and members of his administration to expand across Africa and in other countries. Video Player is loading. Play Video Play Unmute Current Time 0:00 / Duration -:- Loaded : 0% Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Background Color Black White Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Transparent Window Color Black White Red Green Blue Yellow Magenta Cyan Transparency Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Dropshadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. Advertisement Next Stay Close ✕ Ad Loading Colmer said Starlink, which has been 'overhyped' when there were other similar service providers to choose from, was discussed at their conference but was not the main topic. The key points of discussion included spectrum sharing – a major source of opportunities for the smaller local wireless internet service provider (WISP) following Icasa's recent legislation amendment – and artificial intelligence (AI). However, Colmer said his personal highlight was the technical presentations or regulatory discussions – it was the inspirational human stories of innovation and perseverance, especially that of Songezo Mhambi from the underserved Eastern Cape who spoke on "How I Built a WISP". He said Mhambi started with network switches on his bed because the roof was leaking everywhere else, literally sleeping with his network equipment. He fought to get bank funding, overcame incredible hurdles, and now he's expanding and creating employment. Today, Songezo is, among other things, founder and CEO at Mdaswifi, founder at Vice-Tech, a renowned tech entrepreneur and a 'digital evangelist'. Colmer said he wished he could clone Mhambi because people like him are the solution to getting everyone in South Africa connected. A representative from the Independent Communications Authority of SA (Icasa) spoke about the connectivity ecosystem, emphasising how different forms of wireless technology can complement rather than simply compete with each other. Various connectivity solutions – from cellular to wi-fi to satellite – each have unique strengths and weaknesses that can together create a robust network ecosystem able to reliably and economically serve communities across South Africa's diverse landscape. Describing the conference as a success and welcoming the 'pragmatic optimism' displayed, Colmer reiterated his view that Starlink was 'overhyped' and dismissed concerns that Musk's constellation was going to kill the smaller wireless connectivity operators. In his conference summary he said: 'Yes, Starlink is coming, but OneWeb is already legally available in South Africa. Amazon's Project Kuiper is on the way. The Chinese are building their own constellation. 'But here's what I think got lost in all the hype: Starlink isn't the WISP killer some people fear it is. It has real limitations – downloading certain apps is problematic, WhatsApp calling isn't ideal. It's going to be complementary rather than primary. In countries that initially moved from WISPs to Starlink, many have actually moved back to WISPs.'
The Star
01-07-2025
- Business
- The Star
Ramaphosa reaffirms B-BBEE and EEIP as essential to economic redress and transformation
Hope Ntanzi | Published 4 hours ago President Cyril Ramaphosa has reaffirmed South Africa's commitment to broad-based economic transformation, emphasising that the country's empowerment laws are practical, effective, and central to fostering inclusive and sustainable growth. In his weekly letter to the nation, Ramaphosa highlighted that the Broad-Based Black Economic Empowerment (B-BBEE) framework and the Equity Equivalent Investment Programme (EEIP) are key to both economic redress and development. 'Amongst the most salient features of our country's empowerment laws are their practicality, feasibility and responsiveness to economic conditions without deviating from the objective of redressing the economic injustices of exclusion of the past,' said Ramaphosa. He explained that South Africa's transformation agenda is guided by two complementary goals: changing the racial ownership and control of the economy, and ensuring inclusive, long-term economic growth that brings black South Africans, women, and the youth into the mainstream. The EEIP, designed for multinational firms whose global structures may not allow equity ownership transfers, enables impactful investments in skills development, enterprise support, and innovation. Addressing misconceptions about the programme, Ramaphosa clarified: 'Some in the public space have recently sought to suggest that the EEIP represents a circumvention of B-BBEE laws -and that it is a response to the conditions of a particular company or sector. ''Neither is factually correct. Firstly, the EEIP is not new and has been in existence for a decade.'' He reaffirmed that EEIP is 'firmly embedded in our laws' and comes with stringent requirements and government oversight to ensure meaningful, broad-based impact. ''The Broad-Based Black Economic Empowerment legal framework applies to all companies wishing to invest in and do business in our economy, whether they are local or foreign.'' This comes as Elon Musk's satellite internet company, Starlink, has expressed interest in entering the South African market, despite Musk's previous criticism of the country's B-BBEE legislation. Companies like Microsoft, Amazon, IBM, Samsung, and global automakers including Toyota and BMW have successfully used EEIP to fund socio-economic development, support black-owned enterprises, and advance South Africa's digital and industrial transformation, he said. ''By way of example, last year IT giant Microsoft announced a R1,32 billion investment over ten years in skills and supplier and 4IR research and development - under the EEIP. ''These firms have leveraged the EEIP to direct investment into local development, to incubate black, youth and women-owned businesses, and to fund skills development. This has in turn assisted government in achieving a number of policy and also infrastructure goals''. 'Equity Equivalents have been proven to be a practical B-BBEE compliance tool for multinationals operating in South Africa, and we will continue to leverage them in pursuit of economic growth and job creation.' Ramaphosa further highlighted that B-BBEE compliance should not be seen as a burden, but as an investment in the country's future. ''Not only do we have to move away from the perception that we must make a choice between growth and transformation – we also have to shift the mindset that compliance with B-BBEE is punitive or burdensome. 'By supporting firms with compliance they are able to embrace empowerment as a meaningful investment in South African's long-term economic stability. This is a sound strategy that recognises that a transformed South African economy is one in which their investments are safe and guaranteed.' He also highlighted the need for South Africa to adapt to changing global economic dynamics. 'Just as our economy has evolved since our B-BBEE laws were first conceptualised, so has the playing field.' 'The emergence of new industries, whether it is digital technology, advanced manufacturing, AI or renewable energy, means South Africa must actively position itself to attract greater foreign and domestic investment in these sectors or risk being left behind.' As the country works to strengthen competitiveness in emerging sectors, Ramaphosa reiterated that transformation remains non-negotiable. 'Our empowerment laws remain central to our goal of economic transformation in South Africa and are here to stay.' Ramaphosa called on all sectors, business, labour, and civil society, to unite in building an inclusive economy: 'Our focus going forward must remain creating an enabling policy environment, driving key structural reforms, supporting innovation, and reducing regulatory barriers to harness the potential of emerging industries and support existing ones.' [email protected] Get your news on the go, click here to join the IOL News WhatsApp channel IOL Politics
