South Africa

South African energy and mining giant Sasol has announced the final details of the Black Economic Empowerment (BEE) sale of a 10 percent stake in the business. Sasol said it would sell 63.1 million shares worth 25.9 billion rand (USD 3.19 billion) to black staff and investors, in the country’s largest BEE deal. First proposed in September of last year, the deal is expected to be passed at a shareholders meeting on May 16. The government-backed BEE scheme aims to increase black economic ownership. (BBC)