South African people of Chinese descent were now also eligible to participate in petrochemicals giant Sasol's Inzalo broad-based black economic-empowerment (BBBEE) transaction, the company said at the weekend.

This followed the decision made by the High Court of South Africa's Transvaal Provincial division on June 18, that South Africans of Chinese descent qualified for the benefits of South Africa's BEE laws.

"The Sasol Inzalo transaction was always intended to reach as wide an audience of eligible South Africans as possible. The [High Court] decision, ensures we have been able to extend our invitation to even more eligible South Africans," commented Sasol executive director Nolitha Fakude.

Only two weeks remained to apply for the Sasol Inzalo BEE inivitation, which would close on July 5.

Sasol said thousands of eligible South Africans had already visited post offices across the country to get their copies of the Inzalo prospectus and an application form, as well as to open their Sasol Inzalo Postbank accounts.

The prospectuses were also available at Sasol and selected Exel service stations.

Sasol announced in March, that it would sell a 10% stake in a R25,9-billion BBBEE transaction, which would result in black ownership of 8,3% and an effective black ownership of 19,7% of its South African business.

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