SANLAM’S black economic empowerment (BEE) partner Ubuntu-Botho paid a special dividend of R830m to shareholders, underscoring the ongoing success of the 12-year partnership.Ubuntu-Botho is headed by businessman Patrice Motsepe and is 55%-owned by Sizanani-Thusanang-Helpmekaar Investments, a company owned by Mr Motsepe and his family.This means about R456m of the special dividend last year was due to Mr Motsepe’s Sizanani-Thusanang-Helpmekaar company, based on its 55% shareholding in Ubuntu-Botho."In 2015, Sanlam enabled UB (Ubuntu-Botho) to pay a special dividend of R830m to its shareholders," Sanlam’s latest sustainability report showed.Other Ubuntu-Botho shareholders include Abafazi Basadi Ubuntu-Botho-Investments, the Ubuntu-Botho Women’s Upliftment Trust and trade unions, such as the National Education Health and Allied Workers’ Union, and the South African Democratic Teachers’ Union.Ubuntu-Botho holds about 292.4-million shares (about 13.5% of the entire issued share capital) i...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.