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A truly historic achievement

“I must point out that in crafting this investment savings offer – ASONGE, both the NEF and the dtic, have sought not only to contribute towards the national savings and investment imperative for our citizens but at the same time, to integrate the key elements of Broad-Based BEE through beneficial ownership as identified in the Codes of Good Practice”.

Minister of Trade And Industry, the Hon. Mr Mandisi Mpahlwa, on the occasion of the launch of the NEF ASONGE Share Scheme – Saturday, 23 June 2007, Constitution Hill, Johannesburg

“ASONGE has been a truly historic achievement. We are delighted that women, youth, people with disability and all provinces heeded the call to save and invest, resulting in a substantial 13% oversubscription of the offer. The NEF allocated an initial 10.64 million MTN ordinary shares currently worth R1,14 billion to Black individuals, savings and investment groups. The Board approved allocation of a further 1,4 million shares currently worth R147 million in order to provide for this oversubscription”.

Mr Ronnie Ntuli, Chairman of the NEF Board of Trustees, on the public announcement of the allocation results – 27 September 2007.

“The purpose of ASONGE was to bring more Black South Africans into the economic mainstream and to encourage a culture of saving and investment. The ASONGE product was specifically designed to address as many areas of investment and market-risk as possible. We are pleased that we have achieved this goal. The results have confirmed a considerable market demand by Black people for participation in higher asset classes of the economy, and ASONGE has set a historic landmark for future share offers”.

NEF CEO, Ms Philisiwe Buthelezi, on the public announcement of the allocation results – 27 September 2007.

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