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Sakhumnotho Group Holdings is 87% owned by previously disadvantaged individuals. As part of the Sakhumnotho Group's commitment to broad-based economic empowerment, it has placed 10% of its equity in a trust to benefit schools, children's homes and churches in previously disadvantaged communities.
The Vulindlela Development Trust has a 10% shareholding in the Group for which no capital payment was required. The Trust will also not have to inject capital in the company in the future for any of the Group's investments. Each of the entities that form part of the Trust is represented by the headmaster, pastor or elected leader of the entity. These individuals have now individual benefit from the trust. The Group's Chairman, Mr. Sipho Mseleku, is also represented on the board of trustees to ensure that the benefits are used for the intended purpose.
The benefits to the Trust are threefold:
• Capital growth
• Dividend payment which can be shared equally between the various entities after identifying and approving projects. These projects can include various community projects within the churches, bursaries or infrastructure development such as sport development or IT centers within the schools.
• Members of the entities also benefit from job creation opportunities that might arise from the Groups activities
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