MTN Zakhele trading platform still promise January relaunch

The suspended MTN Zakhele online trading platform is promising to be back up on Monday next week, the 27th of January 2014.

Following a disastrous launch of the over the counter (OTC) trading platform for MTN Zakhele shares, on the 25th of November 2013, the platform collapsed two days after the launch.

The collapse was followed by vague and unmet promises of bringing the platform back up. This has dampened excitement on what was promising to be an incisive story of mass based black economic empowerment (BEE). At last official communication, MTN Zakhele administrators promised to have the trading platform back up in January 2014.

A browse into mtnz.co.za, the address dedicated to host online trading of the MTN Zakhele shares yields the following message:

“This site is under scheduled maintenance and will be available from Monday 27 January 2014

Please note:

Following approval granted by the regulatory authorities, trading in MTN Zakhele ordinary shares will resume on Wednesday, 29 January 2014.”

MTN Zakhele shares became due for trading in November last year after three years of existence. The multibillion rands BBBEE scheme attracted 120000 investors at launch in 2010.

Investors paid R20 a piece to participate in the scheme and were subsidised via loan funding to gain indirect exposure to the JSE listed MTN Group. Since launch of the BBBEE scheme in November 2010, MTN Group shares have gained significantly and the company has provided good dividend which has benefited the MTN Zakhele shares.

When the MTN Zakhele trading platform was launched on the 25th of November 2013, the BBBEE shares opened at levels around R85 per share and many trades were struck at between R80 and R90 which makes for a good return for investors who came in at R20. The MTN Zakhele share was trading at R80 when the trading platform was shut on the 27th of November 2013. All eyes will be on what price the share will track when the trading platform is re-launched.

news@ujuh.co.za

  • It is a pity that MTN Zakhele failed to live up to the expectations of it`s investors & instead kept on with promises which did not become fulfilled. On more than one ocassion investors were informed that resumption of trading was suspended to a later date & when that date came about another later date was put forward The majority of it`s investors were first time investors and their experience only served to scare them off any future investment decisions given their unpleasant experience. It is an unfortunate development given the fact that South Africans are poor savers & anything responsible for investment turn off goes against efforts to promote a good culture of savings in SA.It will take a lot of effort to convince investment sceptics to reconsider involving themselves in future BBBEE financial empowerment schemes given their recent experience.

    Welkom Yizani also brought about a lot of unhappiness to it`s investors. 7 years of patiently waiting failed to bring to it`s investors any joy because the share price did not reflect any appreciation but instead at times dropped to below R10.00 which was the original investment amount at inception. This is an unfortunate development especially because the original intentions were noble but things took a turn for the worse sometime during implementation.I do not doubt the goodwill and honesty of the parent company MTN in it`s efforts to empower the previously disadvantaged ,it`s just that the preparations of Welkom Yizani appear to have been inadequate for such a mammoth task.

  • Please can any 1 tell me what is happening with Zakhele shares its the 29 January 2014 come on know or are Zakhele trading only on 2015 January we are getting tired to be messed around they free call line is switch off ………………….

  • what is the market price of mtn zakhele shares today

  • […] on the matter. But then you can’t blame the investor who was probably on the receiving end of the false start of the MTN Zakhele trading platform in December last year. The MTN Zakhele trading platform was launched on the 25th of November 2013. […]

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