BEE council held back investments from IBM and Oracle in South Africa

• The B-BBEE ICT Sector Council held back investments from IBM and Oracle in South Africa due to mismanagement of Equity Equivalent Investment Programme (EEIP) applications.
• The council's mismanagement led to delays in processing applications, including IBM's attempt to top up its previous R700 million investment and Oracle's application, which was also delayed.
• The investigation's findings have led to the chairperson of the B-BBEE ICT Sector Council being 'relieved', and the Department of Communications has called for reforms to improve governance and monitoring mechanisms within the council.