Many economists have already stated, Africa's poverty is due to over regulation by the majority of it's economies. I am not arguing for or against capitalism, I am simply stating facts... when you tell a company they cannot do business in your country unless the politicians (not the people) benefit directly, it will stifle the economy.
Shell was also one of those many corporate internationals that promoted and invested in the ANC before and after 1994! The dog (ANC) that bites the hand (Shell) that feeds it!
Observe Shells referencs to keeping "stakeholder" details confidential. They are and have been party to the transition of the Sovereign Nation State of South Africa to South Africa Inc. and stakeholder capitalism. Shell were quick off the mark when it came to applying for the rights to FRAC the Karoo Basin. This would and could still decimate the artesian water veins and farming potential in these regions, known for their Ostrich, game and Sheep farms.
Yeah, it also brings me great joy to see these imbeciles get the finger from international companies😅 Sad part is these BEE opportunists can move on to another entity to milk while the economy gets worse for us average citizens. Hoping we are not governed by thieves after this election
All's fine and hunky dory while your BEE 'partner' who was given a stake in your business which pays an excessive salary for zero return in value. Things become tricky when the 'parasite' is no longer satisfied and decides to hit the ultimate JACKPOT and cash in his shares. No sympathy for Shell and ALL who accepted this arrangement without a whimper with the full knowledge that the entire BEE concept was endmically IMMORAL window dressing.
That is what SA got and gets for the ANC's Cut your Nose to Spite your Face Policies, Totally Useless, Lazy, Corrupt, Conniving, Under Educated, Untrained Clowns in a Tragic Comedy in a Corrupt Mismanaged CIRCUS. That is what Shell, Holand and all companies and governments fough for , from 1960 to 1994!!!! The inauguration of complete disaster, mayhem, Corruption, Murder, Rape, Theft, Vandalism, Overpopulation and what happened over the last 30 years, is happening now and what will happen in the next 30 years I already knew in 1957! By the way What happened to the pre-1994 'Liberals' and 'Afrikaner Verligtes'?
And this from a company that openly supported the ANCRIMINALS in the early days!!! Now, the chickens have seen the fox, and are leaving the nest for less costly, investment friendly, countries. Well done ANCRIMINALS....
Companies are there for profits. We can not have Starlink because the thieving ANC wants a big cut. South Africa has lost thousands of investors because of the ANC and BEE. Now you think it is Shell who are too blame?
Yip yip yip. China and Sweden could have fixed out loadshedding issues long ago. Swedens programmers come here to help how they can and China has said, get rid of Bee. We will fix your energy crisis, but no. Caders are more important
5:11 If it wasnt for this corrupt Anc goverments Bee we wouldn't have loadshedding and we have the skills in the country trained new workers in the system . If you keep a society dum and not educated they will vote for the Anc promise them anything and believe it for 30 years ...dum...dummmer.
@@simonmtshweni-gw6pn because they want it for free, they aren't willing to work for it, just another handout. Please also don't assume that shell is selling fuel created from our own resources, they are likely selling imported fuel, it's not like they are removing the oil from our soil and profiting from that, if it's oil produced in south Africa using our resources then it's a different story.
Kakristocracy...Is a system of government aka ANC. Which is a government run by the worst, least qualified and which is the most unscrupulous of people in the History South Africa... 😢😮😢..
South Africa doesn't have Elon's satellite internet for the same reason, BEE crushes companies to make a few (black) shareholders obscenely wealthy while rest of SA remains unemployed. I am surprised the big motor manufacturers are still here, the local and regional car market is pitiful and exports crippled by hopeless SA harbours.
Starlink will do nothing for South Africa other than take subscriptions. That is why they won't get a license... Not to mention the impact it will have on local ISP's who support many jobs. Starlink doesn't even want to engage local companies to resell it.... So I stand by the choice to deny their license.
I fear...many more will follow. The ANC Government has single handedly destroyed the economy of South Africa. But...SHELL also tried to mess around with our coastlines and couldn't get it right...het hulle nou hulle gatte in n krul getrek en daarom ontrek hulle???
The ANC cannot affect shell and its profits in anyway, they are leaving because its the United Nations agenda for them to leave, these corporations have all been given the rights by Royalty to do commerce worldwide since the VOC /east indie Dutch company in the 1600s, and now its a new order and a new world we are heading into, all industry and commerce will be brought to a minimum/stand still, this is the plan of the UN pushed in by the ones that have observatory status at the UN. (I'm forbidden say the names)
The benefiting individuals do not think BEE is back firing. They don't care about SA only their back pocket. Hence millions of people are sacrificed for.personal gain.
Excellent point - I and no doubt many others personally don't hold out much hope for any form of turnaround. 30 years of inaction and docile acceptance of the status quo has brought us here.
There is more going on with Shell than meets the eye. Shell has also announced a decision to withdraw from its home energy retail business in the UK, Germany and the Netherlands.
Just the beginning. More to come. SA is going backwards. Not democratic to force you how to run your company, who to hire and who to give millions in freebies to.
Over a century of operation in the country but not listed on our JSE!.. seeing a big company leaving is always sad to think of job loses etc but these multinational companies must list on our Stock Exchange as well..
Isn't shell the same company that got the Nigerian military to protect the oil operations even though there were harming the communities near the sites so if the get replaced by someone else and no economic harm is done why should we care because I think maybe Gazprom or Petro china might be interested they
Neither Shell nor Thebe have explained the crux of the disagreement : why does Shell regard Thebe's share as worthless ; and what value do Thebe claim to have added to the company ????? So far both parties have just issued PR blather.
Thanks, Shell, for leaving South africa 🇿🇦. Not that i want you to go. Just because off ANC Gried for a small group that just wants more and more Now we know more about how they do it . Good message for the ANC. You just for money and power to oppress your own people ,shame on you .
The owners of Anglo American, are the real owners of the ANC and South Africa, and don't believe for one second they don't approve and direct government policy. This has been the situation for well over a hundred years.
Yes, they have been divesting since 2008 already. Slowly closing down mine shafts and operations. They saw the writing on the wall. It's actually cheaper for them to mine under the great lakes in Canada than to mine in SA because of the "BEE fees" they are forced to pay as well as the fact that they are forced to employ labour which in other countries has been replaced by machinery.
Shell's exit from South Africa is because Shell is divesting its majority shareholding from a local South African downstream unit after a comprehensive review of its businesses across all regions. BEE has nothing whatsoever to do with exit. The media is reporting a fallout with its BEE partner, which is a lie. The exit is not driven by a dispute with its BEE partner over the value of its equity stake in the downstream business ahead of the divestment process. Shell is also exiting Malaysia - with its 950 fuel stations; China - exiting its power generation, trading and marketing businesses; some European countries - withdrawing from its home energy retail businesses; Pakistan - selling its shares and exiting the Pakistani market completely; Russia - withdraw from its involvement in all Russian hydrocarbons, including crude oil, petroleum products, gas and liquefied natural gas (LNG) in a phased manner; Nigeria - selling off its entire operations in the country's onshore oil and gas sector. Shell is choosing a strategy of focusing on profit making assets especially those further upstream following an extensive analysis of its operations worldwide.
Shell didn’t have a choice just as the mines. Bbeee partner sells but leaves the real working partner without a bbeee partner. So either you re-give away or call it a day. Shell made the correct decision.
Thank you for this interesting topic and the discussion of it is done very well. To think that we have the BEE clans in the same corners as the people protecting the environment, could Shell have done better to "exit" SA leaving us with this lesson on BEE?
I think that the BEE dispute is coincidental. Shell are leaving for the same reason that they have sold off or divested downstream operations in Burkina Faso, Côte d’Ivoire, Guinea and Kenya and, closer to home, Botswana and Namibia. They have also sold their Australian stations (in 2014, 900 of them) their Danish downstream assets (in 2016, 230 stations). I think last year alone Shell sold off its 'downstream' in Colombia, Uruguay and Paraguay (a few hundred service stations). It is all to do with 'western' investment moving to electric and green energy. BP are doing / will do the same. It is anticipated that Chinese and Saudi interests will replace them.
but we should not act like we don’t know the truth about Shell and the history of Shell I think local company can do better than Shell we don’t want what happened to Nigeria happen here
South Africa has still not reached the bottom of our economic freefall. It is still coming and most south africans are blissfully unaware of the comming crash. Brace yourselves people of south africa, Rob Hersov who was a gigantic political activist is burnt out, so will south africa burn out after the elections. The writing is on the wall. Out of 52 members in my direct family only my wife and i remain in south africa, all the others have emmigrated!
Well minorities have always known because we are a progressive few. Our culture isnt one of tribalism, which is what our politics has devolved to after we put backwards people at the helm of a modern economy. This was kinda obvious long before the ANC took power and people were warned. Infact we knew since the 1950s what the outcome wouldve been.
Other countries adopt BEE for their minority races. Here, 30 years on and the majority race still reap the benefits of BEE. Living in SA is like a living nightmare these days
It's been proven time and again that BBBEE investment companies benefit only their shareholders, not the actual workforce behind large corporations. The government have a tendency to bend rules to ensure only the shareholders and their enterage get funded for doing absolutely nothing. These large organisation's like Shell have realized this cannot go on, it's not sustainable and there is no value to be had from it, and in fact share values are going to diminish. See how many more large corporations leave SA.
Off the top of my head I don't think Shell is to blame for this. It's the govment who are always to blame, but typical entitled attitude to point fingers instead of take responsibility. But why would they have any responsibilities when BEE says they're entitled without having to contribute anything of value. This sounds the same as China, China has anti espionage laws which have caused massive exodus of companies from China, BEE is doing the same for big business in South Africa.
thats the biggest lie currently only a FOOL would believe there is something like zero carbon emissions, it's all about moving money and millions of tons of batteries and raw materials too and fro.
This is a 'sweet and sour' affair. Shell has a tainted reputation due to various unethical businesses in various countries. And they have been a donor to the ANC's election campaigns. Should we shed a tear, BEE or not? I don't think so.
Strange,just a while ago they were keen to drill our seafloor,now they leave,very dodgy,nevermind the BEE implications and costs...good riddance to rubbish
Shell is leaving because of their BEEEE partner that wants money (as usual) AND liberal environmentalists blocking exploration in SA......the same liberal greenies that form an integral part of the liberal Demoncratic Alliance. So Shell is leaving because of the ANC and the DA.......
If you fear to take risk you wont get anywhere ,bohlele botswa lebading time is now SA , they are rich you are poor land is yours minerals also , this is eye opener
I don't understand. Did shell give them shares free of charge? And now they want to sell them? If so why would shell ever give them these shares, knowing that cashing them in would result in them wanting to leave the country? How has the ANC benefited from these shares to date? Through paying out dividends?
The departure is long overdue it's time we take our fate in our hands government and private sector need to step up rather than depending on foreign investment
SA should have made the appreciation some 10 yrs ago - whether to stay with its major trade partners, the west, or to go for trade with its allies, Brics. Such major shifts takes time + asks for experienced, responsible + honest leaders with transparent, well thought through strategic plans
Shell is a private company that has no obligations to hand out money to failing governments. So it makes sense that they are going to protect their company and reinvest their money where it is safe.
It's got nothing to do with BEE. Some of the oil majors announced a decade ago that they would be exiting their downstream operations in Africa In order to concentrate downstream businesses where margins are better.
Out of respect for the owner of this channel I will be civil. Shell decided to strategically to divest from a number of its Downstream markets globally back in 2010. Shell South Africa was timetabled for round 2. This is round 2. Useless Empty vessels makes noise, just like a scorpion must sting. Kla kla kaka BEE. White (Private Sector) and Black (Public Sector) Elites with their reticience to follow the advice articulated by the Anglo American think tank is to blame for the state of this country, not Shell, they are reacting to a business model change decided upon more than a decade ago.
In terms of impact on SA, I think it will be a bit of damp squib. The competitors will simply step up and buy the Shell Service stations. In my humble opinion. It does however raises red flags for international investors. That may be the bigger risk - loss of future foreign direct investment.
@theobserver6493 What you are saying is true, but ... the loss of future foreign direct investment seldom makes it past the ANC vanguard to benefit the impoverished!
She’ll isn’t leaving due to BEE. European oil companies want to move to more electric and cleaner fuels. Shell is also disinvesting in Australia. They trying to be green and friendly to future European laws coming
SHELL weaponising Foreign Direct Investment to hold RSA to hostage. All good corporate governance codes must apply to enact good praxis and outcome on this matter. This cannot be subject to mere Western capital whims.
Bee is 100% still a need in South Africa, however the way it's being used and abused by the unethical people both black and white people makes this more about a lack of ethics, and foresight in the leadership all around. Bee partnerships is only one way to meet bee requirements. Shell chose this path, they paid the bribes and chose not to strategize for correction in the long run. They had choices, they could have built a pipeline of previously disadvantaged talented employees and Franchisees and alternative partners in the last 20 years at least, but they chose not to. They choose the shareholder's approach( not in any book, my term for this way of thinking) , put in as little as possible, get as much as you can from the market and then cut the losses. A very selfish way of thinking. It's nothing new, it's an ethical issue in Western society and African societies, look at some of the eastern and Asian countries like Japan, Korea, Singapore, China, And the UAE.. They have not only uplifted their people in the last 40-50 years, their business sectors have expanded as well.
True. Also read up on Thebe Investment Corporation and who started it and owns it, the Batho Batho Trust chaired by Nelson Mandela back in the day. In the end it was design to benefit only a select few. BEE is a front to enrich an elite group of individuals and is not design to help the man on the street.
@@RiaanRoux agreed, the true spirit of what a BEE POLICY is supposed to do is lost because of these unethical leaders in the government and private sectors.
Ja well, it doesn't really matter anymore, the main thing is that the ANC have achieved their mandate of destroying and corrupting everything down to catching a bus. I don't give a toss about Shell either, my thoughts with those who will lose their jobs.
Shell is leaving because of their BEEEE partner that wants money (as usual) AND liberal environmentalists blocking exploration in SA......the same liberal greenies that form an integral part of the liberal Demoncratic Alliance. So Shell is leaving because of the ANC and the DA.......
Could we see a Chinese company acquire the rights which Shell failed to obtain and be granted all necessary authorisations within weeks or days without any demur from "communities" or environmental activists?
It's not that surprising really!
This "government" does nothing to stimulate the economy.
Then why are whites still funding the ANC?
Lies, they stimulate our temperament daily😂😂😂😂
Well, they are expecting the taxpayers to stimulate the economy.
The anc has big fat stomachs to feed. Getting bigger by the day. That’s why we have massive sewerage problems in SA.
What did this BEE partner actually do for Shell? I suspect it was just a tick getting fat while doing nothing.
Yup, just like every cadre BEE initiative. These cadres are nothing but entitled parasites.
Many economists have already stated, Africa's poverty is due to over regulation by the majority of it's economies. I am not arguing for or against capitalism, I am simply stating facts... when you tell a company they cannot do business in your country unless the politicians (not the people) benefit directly, it will stifle the economy.
Providing protection 😂 mafia style
🎯
Fat black tick
Shell is basically giving the BEE ANC a big fat middle finger . I love it .
Shell was also one of those many corporate internationals that promoted and invested in the ANC before and after 1994!
The dog (ANC) that bites the hand (Shell) that feeds it!
Observe Shells referencs to keeping "stakeholder" details confidential. They are and have been party to the transition of the Sovereign Nation State of South Africa to South Africa Inc. and stakeholder capitalism. Shell were quick off the mark when it came to applying for the rights to FRAC the Karoo Basin. This would and could still decimate the artesian water veins and farming potential in these regions, known for their Ostrich, game and Sheep farms.
Yeah, it also brings me great joy to see these imbeciles get the finger from international companies😅 Sad part is these BEE opportunists can move on to another entity to milk while the economy gets worse for us average citizens. Hoping we are not governed by thieves after this election
The point is that even if shell paid the R4bn, they'd then be obliged to give another 25% to another bee partner- another anc stooge...
Exactly!
When can we stop race privileges? I mean racism will never stop with such policies.
What's your point. But you would be happy for the 25% to be given to a DA stooge
All's fine and hunky dory while your BEE 'partner' who was given a stake in your business which pays an excessive salary for zero return in value. Things become tricky when the 'parasite' is no longer satisfied and decides to hit the ultimate JACKPOT and cash in his shares. No sympathy for Shell and ALL who accepted this arrangement without a whimper with the full knowledge that the entire BEE concept was endmically IMMORAL window dressing.
That is what SA got and gets for the ANC's Cut your Nose to Spite your Face Policies, Totally Useless, Lazy, Corrupt, Conniving, Under Educated, Untrained Clowns in a Tragic Comedy in a Corrupt Mismanaged CIRCUS. That is what Shell, Holand and all companies and governments fough for , from 1960 to 1994!!!!
The inauguration of complete disaster, mayhem, Corruption, Murder, Rape, Theft, Vandalism, Overpopulation and what happened over the last 30 years, is happening now and what will happen in the next 30 years I already knew in 1957! By the way What happened to the pre-1994 'Liberals' and 'Afrikaner Verligtes'?
They must suffer their ill conceived trust in the BEE concept😆
And this from a company that openly supported the ANCRIMINALS in the early days!!! Now, the chickens have seen the fox, and are leaving the nest for less costly, investment friendly, countries.
Well done ANCRIMINALS....
well said indeed.
Companies are there for profits. We can not have Starlink because the thieving ANC wants a big cut. South Africa has lost thousands of investors because of the ANC and BEE. Now you think it is Shell who are too blame?
Yip yip yip. China and Sweden could have fixed out loadshedding issues long ago. Swedens programmers come here to help how they can and China has said, get rid of Bee. We will fix your energy crisis, but no. Caders are more important
5:11 If it wasnt for this corrupt Anc goverments Bee we wouldn't have loadshedding and we have the skills in the country trained new workers in the system . If you keep a society dum and not educated they will vote for the Anc promise them anything and believe it for 30 years ...dum...dummmer.
Why can't the BBE companies get the big cut on their country's resources?
@@simonmtshweni-gw6pn omg another 1..
@@simonmtshweni-gw6pn because they want it for free, they aren't willing to work for it, just another handout. Please also don't assume that shell is selling fuel created from our own resources, they are likely selling imported fuel, it's not like they are removing the oil from our soil and profiting from that, if it's oil produced in south Africa using our resources then it's a different story.
Kakristocracy...Is a system of government aka ANC. Which is a government run by the worst, least qualified and which is the most unscrupulous of people in the History South Africa... 😢😮😢..
The ANC is not at fault here, relook, study the evolution of events and review your comment.
@@stanleynkosikamthembu168 nonsense.
@@arlenespencer5850 Of course you would respond so, the equivalent of emptiness.
@@stanleynkosikamthembu168 So you also believe the Moon is made of cheese?
@stanleynkosikamthembu168 ANC not at fault?????? Are you serious????
South Africa doesn't have Elon's satellite internet for the same reason, BEE crushes companies to make a few (black) shareholders obscenely wealthy while rest of SA remains unemployed. I am surprised the big motor manufacturers are still here, the local and regional car market is pitiful and exports crippled by hopeless SA harbours.
Starlink will do nothing for South Africa other than take subscriptions. That is why they won't get a license... Not to mention the impact it will have on local ISP's who support many jobs. Starlink doesn't even want to engage local companies to resell it.... So I stand by the choice to deny their license.
You’ve made a strong point. Eskom, SAA, Transnet and even Telkom were strong viable entities in 1994. What are they now ? Battling to exist
Party first, country last. cANCer
Minus the country part and you’ll be spot on🫡
Did you even listen
In all honesty who in their right mind would want to part with a percentage of their hard earned work with a law that enables corruption?
Well definitely not Elon😂
We the people have been carrying certain people on our backs for a very very long time.
Feeding off our hard earned pennies.
@@arlenespencer5850 Who's we and who's the certain people 🤣
@@balsak007 Exactly why Elon abandoned starlink initiative right from the start. BEE (apartheid just packed differently)
@@grantvanrooyen2731ANC is bird with same feathers like that of ZANU PF
Another international company gone. Congratulations ANC .
I fear...many more will follow. The ANC Government has single handedly destroyed the economy of South Africa. But...SHELL also tried to mess around with our coastlines and couldn't get it right...het hulle nou hulle gatte in n krul getrek en daarom ontrek hulle???
The ANC cannot affect shell and its profits in anyway, they are leaving because its the United Nations agenda for them to leave, these corporations have all been given the rights by Royalty to do commerce worldwide since the VOC /east indie Dutch company in the 1600s, and now its a new order and a new world we are heading into, all industry and commerce will be brought to a minimum/stand still, this is the plan of the UN pushed in by the ones that have observatory status at the UN. (I'm forbidden say the names)
This country has lost so much because of ANC greed and policies. Especially when it comes to our Oil & Gas supply.
In business there are no such thing as "free lunches." The A.N.C must still learn this fact. But they will not.
They aren’t the type of captains that sink with the ship.
You go Shell. I guess other companies will follow suit.
Like Anglo American
We want all Americans European people to go
BEE backfiring.
The benefiting individuals do not think BEE is back firing. They don't care about SA only their back pocket. Hence millions of people are sacrificed for.personal gain.
That's why we need Malema.
@@listenup2882 Oh dear. I don't think you realise that Malema is a reed in the wind. He will chop and change to suit his own desires and riches.
Shell sees the writing on the wall
Do you want to tell me that She'll isn't going to wait for the results of the Election ? Do they know something, what whe are not knowing ? 😮
Excellent point - I and no doubt many others personally don't hold out much hope for any form of turnaround. 30 years of inaction and docile acceptance of the status quo has brought us here.
nationalisation
Welcome to the NWO
@@paulmalherbe7206 nationalization is best for SA
Wait for what? Another ANC victory. Nothing Will change
It's not rocket science!
BEE crap....well done, a catastrophe waiting to happen
There is more going on with Shell than meets the eye. Shell has also announced a decision to withdraw from its home energy retail business in the UK, Germany and the Netherlands.
There is zero analysis on South Africa youtube space that goes beyond surface level 'BEE' bad. Hard to engage constructively in these spaces.
Some sober analysis. Thank you.
@@TomiDeSiviglia Enlighten us please o wise one .
Just the beginning. More to come. SA is going backwards. Not democratic to force you how to run your company, who to hire and who to give millions in freebies to.
Over a century of operation in the country but not listed on our JSE!.. seeing a big company leaving is always sad to think of job loses etc but these multinational companies must list on our Stock Exchange as well..
pfft that will never happen ...what is our exchange worth
Why should they bother?
The money was worring them at some point the BEE had to group had to buckle and go for the money. Typical ANC cadre mindset.
Isn't shell the same company that got the Nigerian military to protect the oil operations even though there were harming the communities near the sites so if the get replaced by someone else and no economic harm is done why should we care because I think maybe Gazprom or Petro china might be interested they
Oh yes lets bring russia and china who are even more exploitative.
@@janrdoh what proof do you have about that? Just asking
@@janrdoh Yeah. What makes you say that?
No, they are not interested, we've had almost no benefit at all from BRICS... that won't change now.
Well, it's a Western company so it must be holy.
Neither Shell nor Thebe have explained the crux of the disagreement : why does Shell regard Thebe's share as worthless ; and what value do Thebe claim to have added to the company ????? So far both parties have just issued PR blather.
phineaaaaas wants to eat everything and someone else must foot the bill , useless is as useless does
Lol I love your comment!! True as hell!!!
Probably tired of Anc government "what do you have, We want it"
And still more than half the country is going to vote for them
Thank you Cyril!!!!
Well done to so called good government of the anc and bee
Thanks, Shell, for leaving South africa 🇿🇦. Not that i want you to go. Just because off ANC Gried for a small group that just wants more and more Now we know more about how they do it . Good message for the ANC. You just for money and power to oppress your own people ,shame on you .
It's time for God to step back to South African 🙏 Please pray for South Africa 🇿🇦 🙏 for a better South Africa for all❤ Amen
Isn't Anglo America doing the same?
The owners of Anglo American, are the real owners of the ANC and South Africa, and don't believe for one second they don't approve and direct government policy. This has been the situation for well over a hundred years.
Yes, they have been divesting since 2008 already. Slowly closing down mine shafts and operations. They saw the writing on the wall. It's actually cheaper for them to mine under the great lakes in Canada than to mine in SA because of the "BEE fees" they are forced to pay as well as the fact that they are forced to employ labour which in other countries has been replaced by machinery.
Shell's exit from South Africa is because Shell is divesting its majority shareholding from a local South African downstream unit after a comprehensive review of its businesses across all regions. BEE has nothing whatsoever to do with exit. The media is reporting a fallout with its BEE partner, which is a lie. The exit is not driven by a dispute with its BEE partner over the value of its equity stake in the downstream business ahead of the divestment process. Shell is also exiting Malaysia - with its 950 fuel stations; China - exiting its power generation, trading and marketing businesses; some European countries - withdrawing from its home energy retail businesses; Pakistan - selling its shares and exiting the Pakistani market completely; Russia - withdraw from its involvement in all Russian hydrocarbons, including crude oil, petroleum products, gas and liquefied natural gas (LNG) in a phased manner; Nigeria - selling off its entire operations in the country's onshore oil and gas sector. Shell is choosing a strategy of focusing on profit making assets especially those further upstream following an extensive analysis of its operations worldwide.
Good for Shell...😂😂
Shell didn’t have a choice just as the mines. Bbeee partner sells but leaves the real working partner without a bbeee partner. So either you re-give away or call it a day. Shell made the correct decision.
Thank you for this interesting topic and the discussion of it is done very well. To think that we have the BEE clans in the same corners as the people protecting the environment, could Shell have done better to "exit" SA leaving us with this lesson on BEE?
I think that the BEE dispute is coincidental. Shell are leaving for the same reason that they have sold off or divested downstream operations in Burkina Faso, Côte d’Ivoire, Guinea and Kenya and, closer to home, Botswana and Namibia. They have also sold their Australian stations (in 2014, 900 of them) their Danish downstream assets (in 2016, 230 stations). I think last year alone Shell sold off its 'downstream' in Colombia, Uruguay and Paraguay (a few hundred service stations). It is all to do with 'western' investment moving to electric and green energy. BP are doing / will do the same. It is anticipated that Chinese and Saudi interests will replace them.
NWO
but we should not act like we don’t know the truth about Shell and the history of Shell
I think local company can do better than Shell we don’t want what happened to Nigeria happen here
South Africa has still not reached the bottom of our economic freefall. It is still coming and most south africans are blissfully unaware of the comming crash. Brace yourselves people of south africa, Rob Hersov who was a gigantic political activist is burnt out, so will south africa burn out after the elections. The writing is on the wall. Out of 52 members in my direct family only my wife and i remain in south africa, all the others have emmigrated!
Wise family. The rest of us are well and truly TRAPPED.
ANC voters are in the dark. And they will be the first to cry foul
Well minorities have always known because we are a progressive few. Our culture isnt one of tribalism, which is what our politics has devolved to after we put backwards people at the helm of a modern economy. This was kinda obvious long before the ANC took power and people were warned. Infact we knew since the 1950s what the outcome wouldve been.
Other countries adopt BEE for their minority races. Here, 30 years on and the majority race still reap the benefits of BEE. Living in SA is like a living nightmare these days
Unfortunately the rest of the world does not understand this
You cannot pretend to add value forever.
What took Shell so long. Go well Go Shell.
It's been proven time and again that BBBEE investment companies benefit only their shareholders, not the actual workforce behind large corporations.
The government have a tendency to bend rules to ensure only the shareholders and their enterage get funded for doing absolutely nothing.
These large organisation's like Shell have realized this cannot go on, it's not sustainable and there is no value to be had from it, and in fact share values are going to diminish.
See how many more large corporations leave SA.
Without BEE we could enjoy Skylink.....in South Africa. VOETSEK BEE!!!
There certainly no tears 😭 in my eyes...as there reasons for everything as the truth has always an uncanny way of revealing itself...time will tell.
Off the top of my head I don't think Shell is to blame for this. It's the govment who are always to blame, but typical entitled attitude to point fingers instead of take responsibility. But why would they have any responsibilities when BEE says they're entitled without having to contribute anything of value. This sounds the same as China, China has anti espionage laws which have caused massive exodus of companies from China, BEE is doing the same for big business in South Africa.
Unbelievable, insane, these people are clueless to the damage they are doing. No other people in the world do what the ANC is doing
On a positive note, this will speed up South Africa's transition to zero carbon emissions.
thats the biggest lie currently only a FOOL would believe there is something like zero carbon emissions, it's all about moving money and millions of tons of batteries and raw materials too and fro.
Yes, because no one will be driving anymore. Hehe.
oh really ...Einstein !!!
@johannesmarais6347 Correct
so how many jobs will be lost!!!
We due to BEE mostly bee candidates will lose their jobs.
Going to be a sad day as the platter shall be removed.
Thousands easy. But let them fk on, they wanna vote ANC so kry vir jou.
Looks like South Africa is slowly going back to how it was founded!
How can you extract millions but you don't invest anything.....
South Africa hv to make shell pay compansation to SA,
If other petroleum companies left I guess the fuel price will probably be around R50 to a litre, because the comrades must eat.
Any opposition to BEE is a plus for this country.
How many workers of shell wil still vote A and c
*ANC must be voted out in May 2024 elections' every problen SA had since 1994 will then dissapear in a blink of an eye' BEE along with them*
Oh dear, will the ANC still keep calling their headquarters Shell House?
Proudly brought to us by the anc.
They don't even think about the consequences.
Jan van Riebeeck has spoken....😅
This is a 'sweet and sour' affair. Shell has a tainted reputation due to various unethical businesses in various countries. And they have been a donor to the ANC's election campaigns. Should we shed a tear, BEE or not? I don't think so.
With the ANC government who wants to invest in South Africa
Strange,just a while ago they were keen to drill our seafloor,now they leave,very dodgy,nevermind the BEE implications and costs...good riddance to rubbish
Shell is leaving because of their BEEEE partner that wants money (as usual) AND liberal environmentalists blocking exploration in SA......the same liberal greenies that form an integral part of the liberal Demoncratic Alliance.
So Shell is leaving because of the ANC and the DA.......
If you fear to take risk you wont get anywhere ,bohlele botswa lebading time is now SA , they are rich you are poor land is yours minerals also , this is eye opener
Well done anc you geniuses
Could it b that there is little oil left??? And that its just not worth the extra frustration.
Good ,i dont support any BEE companies,mc donalds,k,f,c,d,s,t,v,sasol
Oh so your car runs on water then😂
@@balsak007 runs on caltex fool
Did you know what is a BEE ,
@@phumelelaniradebe5364 I do! It's racism!
They are teaching south Africa a lesson for supporting Palestine they must take their companies and go
I don't understand. Did shell give them shares free of charge? And now they want to sell them?
If so why would shell ever give them these shares, knowing that cashing them in would result in them wanting to leave the country?
How has the ANC benefited from these shares to date?
Through paying out dividends?
The departure is long overdue it's time we take our fate in our hands government and private sector need to step up rather than depending on foreign investment
Shell leave the empty shell😂😂😂
SA should have made the appreciation some 10 yrs ago - whether to stay with its major trade partners, the west, or to go for trade with its allies, Brics.
Such major shifts takes time + asks for experienced, responsible + honest leaders with transparent, well thought through strategic plans
Well, then there was never any chance of that happening 😂
I rebuke Bbee, it’s a no brainer…. But let She’ll be gone, they’re not as clean as they portray and we will find out how they allegedly support Nwo.
No worries, another multinational will step in or the franchise will go private.
I was already asking myself who's going to buy the infrastructure they've built in the country cause they cant take any of that with them.
Russian company Will take over
@@aarongunnz9513 Definitely possible, BRICS gaining more momentum
as shell rob 120 years of oil in africa
ANC IS ONE BIG JOKE AND A DISGRACE TO ALL THE PEOPLE AF SA ..ALL THANKS ANC AND BBBEEEEE CHITT
Shell is a private company that has no obligations to hand out money to failing governments. So it makes sense that they are going to protect their company and reinvest their money where it is safe.
It's got nothing to do with BEE. Some of the oil majors announced a decade ago that they would be exiting their downstream operations in Africa In order to concentrate downstream businesses where margins are better.
@mossleoka9279 That's true. Let's not forget how (negatively) BEE affects margins, however.
Watch Morning Shots take on this matter and youll find out.
Haha lekker lekker, now people around the world know what's happening in SA. BEE bullcrap.
Out of respect for the owner of this channel I will be civil. Shell decided to strategically to divest from a number of its Downstream markets globally back in 2010. Shell South Africa was timetabled for round 2. This is round 2. Useless Empty vessels makes noise, just like a scorpion must sting. Kla kla kaka BEE. White (Private Sector) and Black (Public Sector) Elites with their reticience to follow the advice articulated by the Anglo American think tank is to blame for the state of this country, not Shell, they are reacting to a business model change decided upon more than a decade ago.
i agree
In terms of impact on SA, I think it will be a bit of damp squib. The competitors will simply step up and buy the Shell Service stations. In my humble opinion.
It does however raises red flags for international investors. That may be the bigger risk - loss of future foreign direct investment.
@theobserver6493
What you are saying is true, but ... the loss of future foreign direct investment seldom makes it past the ANC vanguard to benefit the impoverished!
@@JOATMOFA Very true!
Love your name!! 😂
@@theobserver6493 Thanks. It's an acronym ... want to guess?
@@JOATMOFA ; Jack of All Trades - Master of ... 😂 Giving away my age.🤪
@@theobserver6493 Well done! Yep - you are the *1st one ever* to figure it out!
She’ll isn’t leaving due to BEE. European oil companies want to move to more electric and cleaner fuels. Shell is also disinvesting in Australia. They trying to be green and friendly to future European laws coming
who cares
replace all the corrugated townships with decent attractive council housing
SHELL weaponising Foreign Direct Investment to hold RSA to hostage. All good corporate governance codes must apply to enact good praxis and outcome on this matter. This cannot be subject to mere Western capital whims.
It can, & it will. Anyway, who cares?
Bee is 100% still a need in South Africa, however the way it's being used and abused by the unethical people both black and white people makes this more about a lack of ethics, and foresight in the leadership all around.
Bee partnerships is only one way to meet bee requirements. Shell chose this path, they paid the bribes and chose not to strategize for correction in the long run. They had choices, they could have built a pipeline of previously disadvantaged talented employees and Franchisees and alternative partners in the last 20 years at least, but they chose not to. They choose the shareholder's approach( not in any book, my term for this way of thinking) , put in as little as possible, get as much as you can from the market and then cut the losses. A very selfish way of thinking. It's nothing new, it's an ethical issue in Western society and African societies, look at some of the eastern and Asian countries like Japan, Korea, Singapore, China, And the UAE.. They have not only uplifted their people in the last 40-50 years, their business sectors have expanded as well.
True. Also read up on Thebe Investment Corporation and who started it and owns it, the Batho Batho Trust chaired by Nelson Mandela back in the day. In the end it was design to benefit only a select few. BEE is a front to enrich an elite group of individuals and is not design to help the man on the street.
@@RiaanRoux agreed, the true spirit of what a BEE POLICY is supposed to do is lost because of these unethical leaders in the government and private sectors.
As south African I don't care shell must go
We are so screwed!
This will open up a market for other game players. No big deal here...the Middle East and Asian oil companies will easily fill the void.
Well dun cell for not bowing down to the criminal ANC government
Ja well, it doesn't really matter anymore, the main thing is that the ANC have achieved their mandate of destroying and corrupting everything down to catching a bus. I don't give a toss about Shell either, my thoughts with those who will lose their jobs.
anc is the cause of this.
Thanks for the content, I would however suggest removing music when you are talking as it is too distracting imho
Wonderful Shell ,come on BP follow suit
Instead of lining the pockets of the individual "Director" companies must contribute to public projects like roads,water and electricity.
No loss for Shell. South Africa is a failed state!
It is sad that the country is being destroyed by a government that does not really care about it
Ja deur anc verloor ons land goeie en groot kompenies kyk vir Shell nou weer hulle BEE veroorsaak dit 😢
Shell is leaving because of their BEEEE partner that wants money (as usual) AND liberal environmentalists blocking exploration in SA......the same liberal greenies that form an integral part of the liberal Demoncratic Alliance.
So Shell is leaving because of the ANC and the DA.......
Could we see a Chinese company acquire the rights which Shell failed to obtain and be granted all necessary authorisations within weeks or days without any demur from "communities" or environmental activists?
That is quite possible too
Natural attitudes to entitlement to majority shares in business coming to do business in corrupt SA will never succeed 😢😢😢😢😢
What a disaster this country has become, wake up folks. If Chinese start to get a foothold here we are doomed