Musk's Starlink Could Sidestep South African Equity Rules Under Deal Aimed At Calming Relations Ahead Of Trump Meeting: Report

Benzinga

South Africa is exploring a regulatory workaround that would allow Elon Musk’s Starlink to operate in the country without complying with Black Economic Empowerment equity rules, Bloomberg reports. The plan aims to present Starlink’s services as rural infrastructure projects instead of direct ownership stakes and is modeled on strategies used by auto companies in 2019. The talks come ahead of President Cyril Ramaphosa’s meeting with Trump. Musk, who was born in Pretoria, has accused South Africa of enforcing “openly racist ownership laws” that he says prevent Starlink from operating there because he is not Black. Trump has supported these claims, granting refugee status to White South Africans and echoing genocide allegations that a South African court dismissed as "clearly imagined."

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00:00It's Benzinga bringing Wall Street to Main Street.

00:02South Africa has explored a regulatory workaround that will allow Elon Musk's Starlink to operate in the country

00:07without complying with black economic empowerment equity rules, Bloomberg reports.

00:12The plan aims to present Starlink services as rural infrastructure projects

00:15instead of direct ownership stakes and is modeled on strategies used by auto companies in 2019.

00:21Talks come ahead of President Sara Rapofosa's meeting with Trump.

00:24Moscow was born in Pretoria as accused South Africa of enforcing openly racist ownership laws.

00:29He says prevent Starlink from operating there because he is now black.

00:33Trump has supported these claims, granting refugee status to white South Africans,

00:37echoing genocide allegations that a South African court dismissed as clearly imagined.

00:42For all things money, visit Benzinga.com slash GSTV.

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