The Dividend of Deception: How MultiChoice’s Black Empowerment Scheme is a Scam
In a shocking revelation, it has come to light that MultiChoice’s black economic empowerment (BEE) scheme, Phuthuma Nathi, has been fleecing black South Africans for years. Since 2006, Phuthuma Nathi has received a staggering R19.1 billion in dividends from MultiChoice, with the majority of it going to a select few.
The scheme, which was touted as a way to empower black South Africans, has instead become a tool for the wealthy to get richer. The dividends, which are supposed to be distributed among the black shareholders, have been used to line the pockets of the few who are in the know.
The Numbers Don’t Add Up
According to MultiChoice’s financial reports, the company has been struggling financially, with overall active subscribers declining by 9%. However, despite this decline, Phuthuma Nathi has continued to receive massive dividends from the company. This raises questions about the true nature of the scheme and whether it is indeed a way to empower black South Africans or just a way to fleece them.
The Unclaimed Dividends
It has also come to light that a significant portion of the dividends paid out by Phuthuma Nathi remain unclaimed. According to the scheme’s chairperson, Mandla Langa, an additional R215 million in unclaimed dividends remains outstanding. This raises questions about the accountability and transparency of the scheme.
The French Connection
In a shocking twist, it has been revealed that French-based media giant Canal+ is looking to take over MultiChoice in a R30 billion deal. This raises questions about the true intentions of the deal and whether it is indeed in the best interests of black South Africans.
The Conclusion
In conclusion, Phuthuma Nathi is a scheme that has been used to fleece black South Africans and line the pockets of the wealthy. The dividends paid out by the scheme are a drop in the ocean compared to the massive profits made by MultiChoice. It is time for black South Africans to wake up and demand transparency and accountability from those who claim to be working in their best interests.
