The South African government is making a bid to bring back Formula 1 racing to the country for the first time since the 1980s. Minister of Sport Gayton McKenzie announced a team has been assembled to prepare a comprehensive bid document.
Controversial politician and Minister of Sport, Gayton McKenzie says the government has assembled a team to prepare a bid for Formula 1 to host an event in South Africa for the first time since the 1980s. He stated the team would be “the only recognized body to engage with F1 officials and stakeholders, to develop a comprehensive bid document to be endorsed by the South African Cabinet, before being submitted to the Formula One Group for consideration.
” Bringing this to fruition by 2027 is a challenging goal, particularly since the country's sole suitable race track requires extensive and costly upgrades. We also delve into the strategy employed by the Department of Communications and Digital Technologies, Solly Malatsi, to circumvent economic empowerment regulations governing foreign companies operating in South Africa, specifically regarding Starlink. This strategy, dubbed Equity Equivalence, may yield mutually beneficial outcomes for both the company and South Africa
FORMULA 1 SOUTH AFRICA ECONOMICS TECHNOLOGY INVESTMENT
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