The internet company will direct investments into infrastructure as part of its support for the 16-country Southern African Development Community. UNN reports with reference to Bloomberg.
Details
Billionaire Elon Musk's Starlink could invest about $112.7 million in South Africa, Business Day reports, citing unnamed sources. In total, these are investments that will be directed to infrastructure. This is intended to support the 16-country Southern African Development Community. Starlink will use local firms for construction, leasing, and maintenance.
Starlink aims to conclude a deal with South African authorities before the G20 summit in Johannesburg in November, with the decision on an operating license ultimately resting with the country's industry regulator.
Regarding the ambitions for project development in South Africa. Pretoria-born Musk previously stated that he wants Starlink internet services to be available in Africa's largest economy. The tech billionaire is not giving up any stake in the company, in the context of adhering to rules regarding black empowerment. The latter, according to Musk, are currently "blatantly racist."
Recall
Donald Trump, in an interview with Fox News, called billionaire Elon Musk "a great guy" and "upset" because he "didn't get what he wanted." This interview was recorded before Musk's latest critical posts regarding the tax bill.