When the South African Breweries (SAB) Zenzele BB-BEE scheme winds down in April 2020, the scheme will have generated almost R14-billion in value for South Africa.
Created with the intention of generating sustainable ownership and economic wealth opportunities for previously disadvantaged groups and redressing historical imbalances, the BB-BEE deal transferred 8,45% of ownership of SAB shares to more than 40 000 shareholders.
Since its inception in 2010, SAB Zenzele, has disbursed R 4-billion to shareholders, with an additional R 9,6-billion to be paid out when it winds up.
When SAB Zenzele winds down, the SAB Zenzele Kabili Scheme will be launched.
Shareholders of the SAB Zenzele scheme will have multiple options, one of which is to reinvest a portion of their unwind value in the new SAB Zenzele Kabili scheme.
Alternative options include to receive proceeds in the form of AB InBev shares or to receive their proceeds in cash.
“Looking back at SAB Zenzele’s 10-year track record, it is inspiring to see what has been achieved and the economic growth that it has contributed to the country,” says Richard Rivett-Carnac, director: M&A and treasury at SAB and AB InBev Africa.
“From the outset, SAB Zenzele sought to be genuinely broad-based and to deliver real economic benefits to the lives of thousands of South Africans. I am very proud of the degree to which SAB Zenzele delivers against this initial objective,” he adds.