Visit our COVID-19 site for latest information regarding how we can support you. For up to date information about the pandemic visit www.sacoronavirus.co.za.

bs-regular
bs-extra-light
bs-light
bs-light
bs-cond-light-webfont
bs-medium
bs-bold
bs-black

Community


Share knowledge. Ask questions. Find answers.

Online Share Trading

Engage and learn about markets and trading online

MTN

Reply
analyst
Frequent Contributor
Hi Does anyone know about The Asonge Share Scheme, an initiative meant to assist ordinary black South Africans acquire discounted shares from cellphone operator MTN? How do you apply?
0 Kudos
25 REPLIES 25
SimonPB
Valued Contributor
post office
0 Kudos
analyst
Frequent Contributor
thanks
0 Kudos
Robbie
Regular Contributor
Which colors qualify and which not ? Does white woman qualify ?
0 Kudos
Not applicable
0 Kudos
kwagga
Super Contributor
I guess this is a great time to empower our maid, and maybe take a little commission for the effort.
0 Kudos
Not applicable
I see the way to make money here is to wait for the lock in period to expire. you suddenly get R1bn worth of shares coming onto the market for sale sending the share price into a nose dive.. you buy on the dip due to the supply/demand imbalance and wait for the share to recover. Its about the only legal way me as a currently disadvantaged white person can take advantage of the deal...
0 Kudos
topgun
Super Contributor
I must have been asleep - but under the previous dispensation I NEVER got offered shares at a discount owing to my pigmentation? also no free house or water or electricity? these deals are really educating the masses about capitalism - no risk and plenty reward while it lasts!!
0 Kudos
Not applicable
Sorry, i try to understand, what are you actually implying?
0 Kudos
Not applicable
I think he is alluding to a personal loan to his domestic with a healthy interest rate being levied which in turn should result in a win win situation?
0 Kudos
CHATTYCHAT
Super Contributor
Nah - the architects of this offer knows MTN is overpriced (like most shares) and they also realised that none of the PDA's would buy at these high levels, thus the discount.
0 Kudos
Pleiades
Frequent Contributor
I know a black lesbian in a wheelchair. What discount does she get?
0 Kudos
smart_money
Occasional Contributor
TopGun, under the previous dispensation you had access to the best schools, the best neighbourhoods and the best jobs - simply by virtue of your pigmentation, or lack thereof. Affirmative Action worked brilliantly under the old regime but now that the beneficiaries are Black, AA has become a swearword. So in the past while you may not have been given shares at a discount you were given every other opportunity to participate in the economy which gave you the resources to buy your shares. While I'm also not in favour of all these ill-advised get-rich-quick schemes e.g. BEE BBBEE which allow an elite Black minority to get richer while the masses still are jobless, homeless, waterless, electricityless and jobless, I simply cannot allow your comments to go unchallenged. There are 2 sides to every story.
0 Kudos
Samir
Super Contributor
smartmoney, point noted....
0 Kudos
dreamer
Contributor
I think it is great that the NEF are doing something to widen particpation in the equities market. Hopefully, it provides the black middle class with some exposure to different assets. Broadening owenership of assets, and reducing household debt is critical to sustaining economic growth. But lets face only the middle and the upper class can afford to tie up a minimum of R 2000-00 for a year. Imagine, if the NEF decides that instead of race, some measure of class is used. Perhaps, giving free shares to unemployed young South Africans of every race. The shares could be converted to cash to pay for education or start a business. This is probaly too radical for this forum, but reducing inequality is another critical factor to keep economic growth going, in a way that involves poorer South Africans. The central point is that we must think about empowerement in terms of the wider linkages to growth and development. On a more practical note, once the shares are purchased at the Post Office, is there a way to transfer them to my standard bank share account?
0 Kudos
topgun
Super Contributor
Maybe I had access to a decent education and a job under the previous dispensation, but I still had to study and work hard. Nothing was EVER given to me for free. The point is that we are perpetuating discrimination on the basis of race, irrespective of the consequences. AA is benefitting the few and the expense of the majority, the increasingly dysfunctional state as evidenced in "capacity problems" and poor service delivery being a case in point. The preoccupation with transformation and the relegation of performance and successful outcomes will ultimately turn SA's freemarket economy on its head. As for the best neighbourhoods, at least they were crime free then....
0 Kudos
DG1
Contributor
Does any body have an answer? Would we be able to transfer the shares to our trading accounts ?
0 Kudos
SimonPB
Valued Contributor
DG1, you only get ownership in a year - then you can do anythign with them. But I think that if you keep for an extra year you get another free share for ever 10.
0 Kudos
DG1
Contributor
so can i transfer it to my share account after yr1 or yr2 ?
0 Kudos
SimonPB
Valued Contributor
yes, after 1 or 2 or any time there after.
0 Kudos