MTN Zakhele queries answered: Watch out for swindlers

We have been inundated with questions about the MTN Zakhele scheme which has reached a critical stage this month. The three years lock in period expires on the 24th of November 2013. MTN Zakhele has prepared a restricted trading platform and has called for all who want to use this platform to register. The trading, buying and selling, is set to commence on the 25th of November 2013.

To the many questions we have received, we have responded in line with our first duty. mtnz.co.za is the best place to have your questions answered or use the call centre line: 083 123 6869. But the questions have kept coming.

Here we have taken the questions which best represent all the other questions we have received. We have used MTN Zakhele’s Frequently Asked Questions (FAQS) feature to help you dear reader. It is important to note that this is a voluntary act on our part. We are not an agent of MTN Zakhele. It is even more important to note that MTN Zakhele does not operate through some agencies outside the Link Market Services which is their transfer secretary. As such do not be lured into dealing with other people who claim to be representing MTN Zakhele. Do not submit sensitive information online, as some readers have done here, unless you are sure that you are dealing directly with MTN Zakhele or Link Market Services.

Here follows our adapted FAQS mixed with NO NO’s in this game.

I want to sell (or buy) MTN Zakhele shares how do I register?

If you are comfortable with the internet, go to mtnz.co.za and you will find information on how to register online. You can also be assisted via MTN Zakhele call centre which is at 083 123 6869.

Once you are registered, you will be able to trade your shares online or via the call centre.

I can’t make it to the registration area at the allocated date but I need to sell my shares. What do I do?

First see this piece: MTN Zakhele scheme opens up for new investors. It has dates and places where MTN Zakhele registration and education sessions are scheduled to take place across the country. If the schedule next to you has passed, call MTN Zakhele at 083 123 6869, they will assist you.

I registered and invested into MTN Zakhele in 2010. Do I also need to register?

Yes you do need to register if you want to trade in your shares. Even if you are not going to trade in the near future, once you are registered you will be in the position to buy or sell in the future. Remember the scheme has a six years life span.

Please register me for MTNZ share. Here are my details… (Some readers provided us with their ID numbers, addresses, phone numbers and bank account numbers).

Don’t do this here or in any other platform, other than the dedicated MTN Zakhele platform. This is dangerous and exposes you to criminal activity.

My details have changed; bank account, phone number, name, address, etc.

This extract from mtnz.co.za should help:

“If any of your existing personal details are incorrect or have changed, you will need to complete a Change of Details form, which can be downloaded from the website www.mtnz.co.za. You may also call 083 123 6869, where an agent will assist you.

The Change of Details form must be accompanied by the following supporting documents, for details which have changed:

  • Certified copy of South African ID Document
  • Bank statement not older than 3 months (not internet statements) stamped by your Bank; or signed and stamped letter from your bank confirming banking details

Once your updated information has been received and verified, you will receive an SMS inviting you to register on the MTN Zakhele Share Trading Platform through the website or Call Centre.

Additional documents are required if the shareholder is a minor or is represented by another person”.

I invested R3000 into MTN Zakhele in 2010. How much do I stand to get if I sell?

According to information on our disposal, this investment has performed very well (See this piece). But there is no telling now where the shares will trade on November 25 and onwards. The price at which you will be able to sell is a function of the limited over the counter market.  Like any other normal trade, this particular platform operates on a willing seller willing buyer basis. This means you will be able to sell your shares at a price that rules the limited market at a particular point in time. The trading will take form of a bidding process. You will have an opportunity to name a price at which you want to sell or buy, off course within the limits of this market. Your price must be matched by a buyer or seller. If you have a match, the sale goes through. MTN Zakhele will organise this match and handle the settlement. There is a fee applicable to the trading. “If your order is not matched by the end of the time you chose, your order will lapse and the shares will remain yours”.

Who qualifies to register?

MTN Zakhele is a BBBEE investment scheme. It was designed to benefit only black people. Here is a helpful extract from MTNZ FAQS:

“Only Black People and Black Groups are eligible to buy MTN Zakhele shares

  • Black People are: African, Coloured, Chinese or Indian persons who are natural persons and who are either:

(a) citizens of the Republic by birth or descent;
(b) citizens of the Republic by naturalisation before 27 April 1994; or
(c) citizens of the Republic on or after 27 April 1994 who, but for the Apartheid policy in place prior to that date, would have been entitled to acquire citizenship by naturalisation prior to that date.

  • Black Groups (“Black Groups” as more fully defined in the prospectus issued by MTN Zakhele in August 2010), which are made up of Black Companies and Other Black Entities:
    • Black company – a company incorporated in accordance with the laws of South Africa, in which black people own or control more than 50% of the ordinary shares or other equity interest of the company, on an effective flow-through basis (excludes measurement utilising the modified flow-through principle)
    • Other Black Entities – a vesting trust; a broad-based ownership scheme and an unincorporated entity or association, including a partnership, joint venture, syndicate or stokvel, which is owned or controlled by a majority of black people.”

Should I sell or hold on to my shares

This question is better handled by a qualified investment professional. This piece may help your decision. MTN Zakhele: Where there is a will there is a way

How will the trading platform work?

We are preparing a separate feature for this question.

  • how do i know that i am registered?
    if i do not sell or buy what will happen after the 6th year?
    how long is the trading going to happen? is it ongoing or something?

  • There’s a restriction that MTN Zakhele shares only be traded between allowed groups from the time trading starts (25 Novmber 2013) until 3 years later, November 2016. What will happen in 2016? Will Zakhele shares be converted into JSE-listed MTN shares? Or will Zakhele shares remain as is but be traded over-the-counter to anyone, not just black groups? Is there any supporting documentation in the prospectus or from MTN to support your answer?

    Thanks you kindly

    1. We will file a question to the relevant authorities and get back to you on this

    2. Mr Ndlovu
      After perusing the relevant documents we found no reference to conversion. We then posed your question very high up within the MTN Zakhele structure. The question of what becomes of the shares after November 2016 is not yet settled by the powers that be. We are told there are discussions taking place to address this gap. There is no indication of possible outcome of this discussion.

  • From some of the articles Ivé read on the internet is seems as if it will convert into a full mtn share. I hope it will then trade on the JSE but I’m very interested to hear the answer to your question aswell Peter.

  • i will not make it on saturday seminar but want to sell my shares.I tried to register online but system keep telling that my effort register is prohibited by Firefox .

  • Let us support mtn until 25nov 2016, big up mtn

  • Lindelwa Alfa Manevu

    How much will I get if I bought with R2500? I want to know before the date of buying and selling shares

  • Lindelwa Alfa Manevu

    How much may I buy the shares?

    1. Hi im interested in buying some of the shares to you guys so its my first time and i know nothing about buying the shares can you please explain to me how it works must i pay every month and how much is your minimum shares or i can it starts with how much thank you.

  • I bought my shares in 2010 and would like to know If I am allowed to sell or I must wait for lifespan of 6 years??

  • If I do not trade my shares this year and wait for 2016, will my shares increase every year. If not registered, what would happened to my shares.

  • All BBBEE empowerment schemes that I know of have restrictions on the number of shares an individual can purchase.When the current scheme was introduced to the public in 2010 individuals were resticted to a total cash payment of R27000.00 & an additional R4000.00 was allowed for those who were Rica compliant MTN members. Groups like Stokvels could buy for up to R100000-00. Well and good and hats off to MTN. To my understanding the purpose of restricting buyers to a specific figure is to allow for financial empowerment to reach as many aspirant investors as is possible.That is why most BBBEE schemes become oversubscribed because of the overwhelming support most schemes receive by those who are outside of the financial mainstream due in part to the past history of this country.

    The MTNZ scheme will commence an OTC trading phase like others ie Phuthumanthi1 & 2 on the 24th and this trading will continue until Nov. 2016 when the scheme will mature. The concern I have with this phase of the scheme is the dropping of restrictions on the number of shares individuals can purchase. I base this on the fact that “no restrictions” flies in the face of broad based empowerment. Qualifying Black financial heavyweights are at liberty to derail the “empowerment train” because they have the financial clout to purchase hundreds of thousands if not millions of these empowerment shares originally earmarked for those at the lower end of the financial hierarchy.

    What the above means is that the scheme ends up benefitting those wealthy already empowered individuals which is contrary to the original purpose of BBBEE. The only phase for a free for all share buying should be after the scheme has matured and shares are listed on the JSE. This is a humble contribution to the Directors of MTNZ which I hope will receive a fair consideration as well as a response..

  • My mom register her shares in trading platform. But when she tried to log in it doent’s aspect her . What she must do because she did every thing that needed to be done. Please assist her.

    1. I have changed my bank details and I followed your instructions to send the necessary documents.
      I faxed my certified copy of my ID.document and Bank account details showing the chanes, but I did not received a response cornfirmimg that you receive my documents. When I tried call centre I did not get through. May you please respond by email or SMS me becaus eIwanted to register for the platform trading?

      1. Nkosinathi
        You should direct this message to MTN Zakhele. Ujuh.co.za is an independent media platform and not at all an agent or associate of MTN Zakhele.

  • I am not a shareholder and I wish to buy shares in MTNZakhele. How can I get that opportunitity?

  • They say we can register at http://www.mtnz.co.za, but can’t see any place or form to complete.

  • hi what i would like to know is maybe will those who bought shares in 2010, will they receive any dividends apart from trading when thetrading date commences of the 25 of November 2013, thank you

    1. Note that ujuh.co.za is an independent media platform and not an agent of MTN Zakhele. Having said that; we are positioned to assist the public with useful information as far as our ability goes. But we are not qualified to offer financial/investment advice. Questions relating to contractual obligations between you and MTN Zakhele should be directed to MTN Zakhele which can be reached at mtnzakhele.co.za; mtnz.co.za, 083 123 686. Many questions can be answered by this piece.
      On you questions about dividend: MTN Zakhele has declared no dividend in the past three years. This is because the scheme applied the dividend it received from MTN Group to pay down its debt. This is helpful because it increases the scheme’s net asset value. Going forward, the information we have is that the MTN Zakhele directors will continue focusing on servicing debt obligations. Any other possibility will be entertained in relation to prevailing context and whatever decision taken will be communicated. We hope this is helpefull.

  • sphiwe lord mokoena

    my details are still the same. do i have to update

  • can we please get an answer for nhlanhla uyrgently please

  • I change my account and i did feel the form so i want 2 knw hw long should i wait 4 respond coz i want 2 register

  • I filled all the required information on the Registration Form and when I submit there appears a message which reads “500 ERROR”

  • how do i change ownership of the mtn zakhele shares which were bought in 2010

  • Hi ;This is Tsietsi Khumalo I am shareholder I would like to know if I do not want to sell or to trade do I have to cam to Education and registration or not. My Email is tsietsikhumalo@ymail.com

  • My name is Martha, I want to know where I can register because I cant see any form here

  • MTN Zakhele

    I m interested in buying the shares as I m unemployed,and I want to help my children with them in the future.

    My question is can I buy 2% of the shares and how much is it?

  • I faxed my documments ( Bank account and certified I D copy) at 12:32 /11/2013 in change of my bank account. I tried to call the centre to confirm but I did get through. Can you sms or email me at the above email adress to confirm that you received my documents so that I can know I am registered for mtn Zakhele platform for trading on the 25 Nov. 2013. Please inform me of anything I support do before that date.

  • Hi I am a shareholder of MTNZAKHELE shares i need clarity if i dont want to trade for now until after 2016 am i obliged to register now and to come for the education seminars. Will one recieve dividends on the shares once the trading starts on the 25th November 2013 .
    I will await your response
    Thanks

  • Maphalaphathwa L S

    I want to change my address and to register

    1. Maphalaphathwa L S

      I want to update my previous address

  • What is it that I need to know as a shareholder? If I have shares and I wanna sell them what is the procedure. I need info ….

  • They say we can register at http://www.mtnz.co.za, but can’t see any place or form to complete.

  • Hi
    I have been ringing 083 123 6869 to no avail.l need to register and sell my shares but l am struggling to get through even on your web
    Thank you

  • Hi
    Will investors get daily opening and closing price,deals,volumes,share price and from monday will any charts be presented to show the performance of mtn wether the share is at the floor,table or celling, because as an investor i cannot buy or sell my share without looking at the perfomance of my charts, so will we be able to get that info b4 trading
    tnx

  • I want to keep my shares but i’m struggling to get the form.

  • May you pls forward me with yr Email address for me to forward the required documents as I have the bank account

  • D.B.Radebe’s comment is absolutely correct and must be addressed by the scheme otherwise the scheme will be a sham

  • I bought sh

  • I bought shares in 2010. I want to know if i do not want to sell or trade my shares am i still required to register and attend the seminar.

  • lucas fredrick mahloana

    i sending all my details to change but idid not get respond bcaus i want to buy more shares,wen i going to get?my number is xxxxx

  • hi i,ve sent my new account details but still they have not changed id xxxxx new account number xxxxxx and when is the trading closing

  • This is a joke. I registered last week to be able to trade my shares today. Been trying since 9 am today to login, but cant & cant get through to call centre no. Absolute joke; I suppose as we bought BE shares, we’re being treated as such.

  • Hi

    Whatis going on with the mtnz website???under maintainenece and I have to sell my stock….when would it be fixed???

  • Could you please inform me about the closing date for the submission of the forms,as i have seen that it has commerced on the 25th November 2013?

    1. There is no closing date. Remember that the scheme is going to live for another three years. It matures in 2016. Registration and trading will continue until the directors deem it fit to cease trading in preparation for winding down.

  • STILL my inquiry not answered….how can both call center and website unavailable to trade shares.I already selected to have my shares sold and now I logged on and see that I have to select again shares to be sold!How are we suppose to get in contact with anyone regarding this.

  • I have changed my bank details and trying to get hold of your call centre but with no luck
    and also your forms where are they cause I cant find anything…please help

  • I got masage late that the shareholder need to register,i dont know where i wil find the forms.please help me what must i do

  • Totally a waste with MTN technical problems because somehow I think this is crap as the value of the shares has decreased and far less wprth than what it was bought!!!!What a huge waste clearly.

  • I now need to buy other shares with what I got since 2010 and I need to split my share to 2 of my children so that they remain the only shareholders.

  • where/how is money payable for registration

  • when the market will be open I want to sell&buy

  • I bought shares in 2010,and now i’m receiving sms that I must register again buy/sell I have struggled for almost a week,trying to call the call center for assistance,and fax but I didn’t get help as I didn’t attend at Nasrec,,I find the form on their website but I tried to type but it said 500 errors,

  • please anyone who managed to get through the registration form and succeded because advice me how to go through my email …..

  • don’t know much about shares need assistance since I bought shares in 2010 never got any dividend. I need to know when we will receive our dividend

  • Xolisa Canon Mmngxale

    I did register to sell on my shares but there is no yet response and do know much about shares i will appreciate your undivided attention to this matter urgently.My cell no is….
    Thanks

  • Xolisa Canon Mmngxale

    I did register to sell my shares but there is no yet response and don’t know much about shares i will appreciate your undivided attention to this matter urgently.My cell no is ….
    Thanks

  • I want to sell 200 of my shares bt I cant get access

  • Good day please will you assist my mom her account is locked because she tried her password three time after that is locked. Please assist. Your help will be highly appreciated. Her contact number 0795759912.

  • Victor Ofentse Mokonyane

    Shalom MTN cru…Respectively the admins, i wanted to know that we getting the interest of our Three years expiered periods invested money as ihav bought R 2000 shares, if not which means im out of the race till 2016 full investement. Because i’ve reap the less money of wich was not expected.

  • vusumuzi R Mthethwa

    Ive changed my bank ,and the change of details form has been filled,it was fax through the and the original doc were posted to Link Market Services last year Nov 2013,Since then no sms or confirmation that they had receive my documents,everytime i call the link market service they say i must wait for a an sms.Kindly get back to me i want to register for platform trading

  • 1. I want to know that if i buy shares and not selling them for 12 months, is there gonna be any change?

    2. How can i make more money by the shares i have?

  • COULD SOMEONE PLS TELL ME THE CURRENT PRICE PER MTN ZAKHELE SHARE

    1. MTN Zakhele share is currently trading around R125.00 per share

  • I bought shares in 2010 from MTN Zakhele scheme. my question is”wat will happen to my shares if I don’t sell them in 2016 ” are they automatically gona fall in MTN main account and be traded at the same terms and conditions of MTN ?

  • mphaya ntshengedzeni

    I have held the share from 2010 and I never had an update. I would like to know how much it earns per monthly. It’ll be pleasure if my comments are taken into consideration.

    1. Hi my name is Rose, I have 100 shares with mtnz shares since 2010, what is going to happen after the 25 th November 2016 will it be paid automatically on my bank account or what ?

  • pls want to know can I change my address and telephone

  • I want to buy shares what must I do

  • ngwaga heather Tlhalatsi

    hi I hv bought MTN shares 2010. like to know when to get dividends pls.

  • Phenias tshabalala

    Since ive bought shares i never received any letters and any information about to my shares.

  • Please forward bank details on this e-mail address as I still did not receive e-mail wiyh bank details as I want to deposit the money????

  • Hi…. I sold my shares in 2013 but still get correspondence addressing me as a shareholder, what does that mean. hasn’t the system automatically taken me out, or am I still a shareholder by any means? ….thank you

  • Hi…..I sold my shares in 2013 but still get correspondence addressing me as a shareholder, what does that mean? or am I still a shareholder by any means?

  • simom lephoto chabeli

    How do I see my shares

  • simom lephoto chabeli

    How do I sell my shares?

  • OTP149448 i have bought shares in 2010 and i like to know when i will get dividend

  • I want to change my cell number and bank details, what must I do, my old numbers were 0835293853 and my new numbers are 073 …

  • TSOTETSI MALETSATSI

    I bougth shares in 2010 and llke to know how to check my details .WHAT MUST i do

  • aćtuaĺ i woñder if this was for empower bĺaćk people or to táke our money i said that bcos during selling platform we receive an sms to seĺl shares.problem was those who selĺ your,surely not sell them inorder to win.i told that my shares were forfeit cos had ñot meet the buyer,how this possible,now im just crying for my money i used to bouģht them,i regret to put my hope on that shit mtñz

  • My children needed to fill out a form some time ago and were informed of an online service with a ton of fillable forms . If people are wanting it too , here’s http://goo.gl/svOUYS

  • Recell Gabisile Miya

    my name is Gabisile Miya i joined the mtn zakhele shares on 2010 but i want to sell all of these but im fairly to register in oder to sell them my self can some assist on that thank

  • Hi im John Mkhwebane i’ve bought shares in 2010 in previous years I download the change of banking details but till today I didn’t receive anything information about my shares & want. to know when my shares will mature.

  • good day, I have 500 shares from 2010 and now I am left with 100 shares, what I want to know is, do I need to register my remaining shares or not ? and what is going to happen with my remaining shares when it reached 2016 November ?

  • Write here…is mtn zakhele shares going to divide the dividend to all shareholders before we see our shares?

  • Its being three years now trying stop water wastage at springz and Heidelberg road. Even Johannesburg water agencies with marked cars just came to work and leave that valve leaking.

  • Motsekoua thateng

    Just sold shares and later I received a message saying my oder has been called and removed from the market what does that mean

  • Can I buy less than 100 shares in the zakhele shares? ?

  • Write here…hi I want yo know if the mtn zakhele shre a steel on I want to buy

  • Hi i did buy shares in 2010 and i never receive anythink to tell me about my shares. Can u plz tell me i want to sell my shares now. My phone it was …and change to …can uplz late me now for wat about my shares plz.

  • Hi All

    I need to trade my shares before 22 November 2016, I need your advice so that I can sell them.

    Regards
    Welcome

  • itumeleng mosedane

    Hi i did buy shares in 2010 and i never receive anythink to tell me about my shares. Can u plz tell me i want to trade my shares now. Can u help me

  • I did not recieve my money on the 19 of December as promised i changed my bank details a month ago when i call the call center they say they see my changed details and i must wait for the sms saying they received them really please help

  • Hi i hv mtn shares since 2010 i havent claim yet i bought shares for 2000 rand now i want to cashout mu son going to varsity i need to know how much will i get pls. Those shares i bought it for him

  • Hi I did cash out but never recieve any money yet when really is a pay out . I need to know pls.

  • So much airtime spent on trying to get threw to 083 123 6869 .I have sent emails..faxed all documentation asking to be paid out but no response.
    What do i do?

  • I am a shareholder of mtn zakhele since the start of this so call scheme. I have’nt receive my money yet, despite many attempts of calling its call centre, who by the way, provide vague responses to their shareholders. I suggest consulting Consumer Affairs Offices or the office of the commissioner.

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