Phuthuma Nathi, a BBE scheme that owns 25% of MultiChoice South Africa, reports that over R200 million in dividends from 2006 to 2022 are still unclaimed. Despite efforts through a media campaign starting in 2020, which saw over R95 million claimed, substantial amounts remain unclaimed due to outdated shareholder details or an inability to contact relatives of deceased shareholders.
These challenges aren't unique to Phuthuma Nathi; in fact, many listed companies, pension funds, insurers, and other entities face similar difficulties with keeping beneficiary personal data up to date or lost over time.
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