Draft:Phuthuma Nathi
Phuthuma Nathi
[edit]Phuthuma Nathi is a Black Economic Empowerment (BEE) share scheme launched in 2006 to promote equity ownership for Black South Africans in MultiChoice South Africa, a prominent video entertainment provider. The scheme was established under South Africa's broad-based black economic empowerment (BBBEE) framework to address historical economic disparities.
Overview
[edit]Phuthuma Nathi owns a 25% stake in MultiChoice South Africa, with over 75,000 shareholders from diverse demographic groups. It is widely regarded as one of the country's most successful empowerment initiatives. Since its inception, the scheme has aimed to provide economic benefits to its shareholders through dividends and capital appreciation.
Dividend Distributions
[edit]Phuthuma Nathi has consistently distributed dividends to its shareholders. As of September 2023, the scheme had paid out a total of R17.8 billion in dividends. In August 2023, BEE shareholders collectively received R1.4 billion in dividend payments. Despite these achievements, a significant amount of dividends remains unclaimed. Approximately R240 million in unclaimed dividends has prompted efforts to locate 18,000 shareholders and ensure they receive their payouts.
Economic Impact
[edit]Phuthuma Nathi has contributed to the economic empowerment of its shareholders, enhancing financial inclusion and ownership among historically disadvantaged communities. Its success is often cited in discussions about equity ownership and the broader impact of BEE initiatives in South Africa.
Challenges
[edit]The scheme has faced challenges, particularly in tracing shareholders with unclaimed dividends. MultiChoice continues to collaborate with stakeholders to address this issue and streamline the process for rightful claims.
References
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- "Claim your share of R240m Phuthuma Nathi unclaimed dividends." IOL News. Retrieved from IOL News.
- "MultiChoice BEE shareholders to receive a combined R1.4 billion in dividends." BusinessTech Africa. Retrieved from BusinessTech Africa.
- "Phuthuma Nathi seeks 18,000 shareholders to claim over R240 million in unclaimed dividends." TechFinancials. Retrieved from TechFinancials.
- "Phuthuma Nathi – the MultiChoice empowerment scheme that keeps delivering." BusinessTech. Retrieved from BusinessTech.
- "Empowerment: The success of Phuthuma Nathi." Financial Mail. Retrieved from Financial Mail.