South African Rands. Image by South African Markets Insights
As the festive season approaches, many South Africans are short on cash, and some may not be aware that they are owed millions in unpaid dividends from broad-based black economic empowerment (BBBEE) schemes like Phuthuma Nathi and YeboYethu.
For those who believe they are entitled to these dividends, here’s a guide on how to make a claim.
Phuthuma Nathi
Phuthuma Nathi, MultiChoice’s BBBEE share scheme, is actively seeking around 18,000 shareholders who have not claimed their dividends, amounting to over R240 million. Since 2020, Phuthuma Nathi has run a nationwide media campaign to locate shareholders who are owed dividends from as far back as 2006.
If you are a Phuthuma Nathi shareholder who has not received dividends between 2006 and 2024, or you are a family member of a deceased shareholder, you can reach out to the Phuthuma Nathi call centre for assistance.
The centre is available Monday to Friday, 07:00 to 18:00, excluding public holidays. Call 086 011 6226, or email inquiries to [email protected].
To complete the claims process, shareholders must provide identification documents, proof of bank account details, and other supporting documents as part of the FICA verification. Once the claim is verified, unclaimed dividends are paid within 3 to 5 working days.
“The FICA verification process ensures that dividends are paid to the correct individuals. We work closely with our transfer secretary, Singular Systems, to verify each claim, and payments are only made after full confirmation of the shareholder identity and bank account details,” said Mandla Langa, chairman of Phuthuma Nathi.
Phuthuma Nathi
YeboYethu
YeboYethu, Vodacom’s BBBEE vehicle created in 2008, includes around 80,000 indirect shareholders who are ordinary black South Africans. This BBBEE transaction was originally facilitated with Royal Bafokeng Holdings, Thebe Investments, and an employee share ownership programme (ESOP), valued at R7.5 billion.
Currently, over 10,000 YeboYethu shareholders have unclaimed dividends, totaling R53 million. YeboYethu has simplified the process for shareholders to complete FICA verification and claim any unclaimed di
vidends. To check if you have unpaid dividends and to follow self-help steps for updating your account, please click here.
YeboYethu. Image source: African Business Communities
This process allows eligible shareholders in both Phuthuma Nathi and YeboYethu to claim their unpaid dividends smoothly and ensure that their investments yield returns they may have missed.
