The Mercury

BEE rating improves to level 2

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MTN’s broad-based black economic empowermen­t (BEE) rating had been inched up three levels by independen­t BEE rating agency Empowerdex, the cellular operator said on Friday. Its rating rose from level 5, awarded two years ago, to level 2. The improvemen­t is partly in recognitio­n of its MTN Zakhele share offer, which gave the black public about 4 percent ownership of MTN in South Africa. MTN chief financial officer Zunaid Bulbulia said any firm doing business with MTN South Africa could account for 125 percent of its spend with MTN as BEE spend. He said MTN would look to further improve this rating over the “next few months”. Its stock slid 1.3 percent to close at R141.80 on Friday. – Asha Speckman

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