MultiChoice believes in Broad Based Black Economic Empowerment. With this in mind, we created Phuthuma Nathi Investments, a wholly owned black South African company that now holds 20% of MultiChoice South Africa. When launched, Phuthuma Nathi was the largest empowerment transaction in the listed media sector.
INVEST IN THE FUTURE
Phuthuma Nathi gave qualifying black groups and black individuals, the opportunity to invest in an innovative industry in a truly South African company, whose products and services are world renowned. The two Phuthuma Nathi empowerment transactions launched in September 2006 and January 2007, have resulted in 120 000 black shareholders being added to our diverse shareholder base. The success of Phuthuma Nathi lies in its unique structure. By making Phuthuma Nathi broad-based and accessible to people across income levels, ordinary South Africans were able to purchase shares in MultiChoice South Africa.
POWER TO THE PEOPLE
Our empowerment strategy doesn’t begin and end with Phuthuma Nathi. It includes:
- Employment equity and staff development
- Preferential procurement (contractors)
- Community development and CSI initiatives
- Equity shareholding