MTN Group: Zakhele shares to trade again in January

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Shareholders of MTN Zakhele will resume trading from the black economic empowerment scheme’s online platform and call centre next month, according to the MTN Zakhele board. Trading has been suspended for more than two weeks after the online platform crashed on November 25 due to an overwhelming interest from shareholders. Shares in the scheme became tradeable for the first time last month. MTN launched the R13.8 billion MTN Zakhele scheme three years ago. This vehicle has provided historically disadvantaged groups with a 4 percent stake in MTN Group. “MTN Zakhele is still required to engage with regulatory bodies to apprise them of the changes and sufficient time is needed to review these changes,” the scheme’s board said at the weekend. Thulani Gcabashe, MTN Zakhele’s chairman, said: “A robust system is now in place that will cope with the volumes of trade we expect and ensure a smooth trading process in January.” – Business Report

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