We recently met with a large-Ngo (>200K members), whose mandate means that they are clearly and outwardly opposed to BEE ownership. This is primarily because they regard it as government interference in a free market.
We presented the Tusker structure as a way for their members, who might be opposed to BEE ownership because of the loss of value that it typically causes, to understand that it is possible to 100% legitimately comply with the BEE act, get a proper BEE ownership structure in place, while taking some money off the table, and do this in a fair deal where value is preserved rather than destroyed.
Having a good understanding of all other BEE ownership options out there, their CEO described Tusker as the ‘least-worst’ option.
Given how opposed they are to BEE on principle, we’ll take that as a compliment!