SWAZI MOBILE TO REGISTER TRUST FOR SHAREHOLDERS

MBABANE – The uncertainty surrounding the Swazi Mobile shares has finally been put to rest.

This comes after an announcement was made by the mobile company to the effect that a trust would be registered and receive one million reward shares for the programme.

According to the company, last week it met with selected qualified shareholders who had formed groups with other qualified Swazi Mobile users to forge a way forward on how the company could ensure a seamless handover of the shares, which have been reserved for this exercise.

The meeting was meant to discuss the plan of the late Chairman, Victor Gamedze, of providing shares to those who qualified in the free reward share programme.

notion

Gamedze had stated that as a founder of Swazi Mobile, he had noted that EmaSwati had the notion that they had to be rich to purchase shares, an approach he argued was due to limited capacity.

When announcing the programme last year, the late chairman said the Free Shares Reward Programme was a manifestation of the promise made by the company to the nation that it (company) was for EmaSwati, by EmaSwati which meant that they would own the company that was started by LiSwati.

To qualify, subscribers had to spend E600 on airtime and receive at least 30 calls from 30 unique numbers over a period of three months.
The programme began in August last year and was initially meant to end on December 31, 2017, but the deadline was later shifted to January 31, 2018.

affluent

Gamedze noted that it would be virtually impossible for the ordinary man on the street to purchase shares, especially against an affluent person who would have the capacity to purchase all availed shares in one fell swoop.
The Free Reward Share programme allowed the man on the street a foot in the door.

pertinent

He noted that there was a missing culture and tradition of buying and selling shares in the lives of ordinary EmaSwati. Swazi Mobile has found it pertinent to share with the nation how far the process of transferring shares to the over 15 691 qualified customers has gone.

Confirming the latest development was Corporate Communications Manager, Nosipho Shongwe who stated that during the meeting, the importance of delivering on the promise this current month was highlighted and as such an action plan was adopted with the permission and knowledge of the shareholders that were present.

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