The Ubuntu-Botho transaction was structured in such a way that it would extend Sanlam shareholding to grassroots level, through the Ubuntu-Botho consortium. Patrice Motsepe personally put up the more than R60 million required to acquire and distribute Sanlam shares to shareholders.
This share distribution gives shareholders a direct share in Sanlam – and thus a vested interest in seeing a healthy share price sustained through helping us gain access and grow market share in areas previously closed to us.
The consortium has three anchor shareholders:
- Sizanani-Thusanang Helpmekaar under Patrice Motsepe (55%);
- Sanlam/Ubuntu-Botho Community Development Trust (20%); and
- the Broad-based Empowerment Groupings (25%).
The latter is made up of nine provincial companies, each with at least 70 shareholders, a nationwide company of women who own and run small and micro enterprises, as well as three trusts and two union investment companies, SIHOLD and NIC.
A provincial advisory board resides to enable cross selling between shareholder businesses, thus helping to grow shareholders from micro to medium-sized and bigger businesses.
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