Zenzele Kabili, SAB’s new broad-based black economic empowerment scheme, is all set for listing on the Johannesburg Stock Exchange on the 28th of May 2021. This follows approval by 95% of SAB Zenzele Scheme’s shareholders during a special virtual AGM meeting held last week.
On the imminent listing, SAB’s company secretary, Duncan Pass, commented that the listing will bring about price transparency in the scheme’s performance, in addition to liquidity for retail shareholders.
‘We are really excited at what the scheme will deliver when it unwinds at the end of the month,” he said.
SAB Zenzele Kabili is replacing SAB Zenzele Scheme, which is being phased out this month. SAB Zenzele generated R9.7 billion in wealth for over 40, 000 beneficiaries. It will hold as its key asset R5.4 billion of the world’s largest beer brewer, AB InBV. SAB’s retail shareholders and employees access to the AB InBV.
Zenzele was exclusively for SAB’s retail shareholders, employees and the community outreach project. However, after listing, the Zenzele Kabili will be open to ‘the qualifying public’.
