Initially staff members were encouraged to buy units through Ukhamba Trust at R50 per unit and that money was invested in various business ventures. About 2 400 staff members actively invested in this scheme. Since inception to the end of 2007, staff members invested more than R30 million and have realised a growth in their investment of more than 1500% - from R50 to R812.00 per unit at the end of June 2008 when the scheme terminated.
The R15 million interest-free loan repayable after 25 years, which was given by Imperial to start Ukhamba, as well as the money invested by employees, have enabled Ukhamba Holdings to invest in numerous businesses
When Ukhamba Holdings acquired a 10,1% stake in Imperial Holdings in March 2004, a new scheme, called the "B" scheme, was created. Through this scheme over 15 000 previously disadvantaged staff members of the Imperial Group automatically became beneficiaries. The criterion utilised to distribute these units was based on the length of service of each qualifying Previously Disadvantaged Individual employee as at 5 March 2004.
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The allocation was as follow: |
| Less than 3 years, service: | 2 units |
| More than 3 years but less than 10 years service: | 3 units |
| More than 10 but less than 20 years service: | 4 units |
| More than 20 years service: | 6 units |
This number of units merely provide a formula to ensure that employees receive benefits in accordance with their length of service and not their seniority. As this is an earnings based share scheme, it is estimated that the benefits will be distributed in seven to 14 years.
There are no conditions associated with the "B" scheme. Employees who were allocated these shares will receive them no matter what - whether they leave the employ of the Imperial, or pass away before benefits are distributed, in which case their nominated beneficiaries will receive the benefits. The responsibility lies with each employee to ensure that they nominate beneficiaries. See the "Forms" section for relevant documentation.
UKHAMBA TRUST 
Membership