Further to the merger conditions imposed by the South African Competition authorities, Heineken Beverages South Africa, recently announced an Employee Share Ownership Plan that will benefit its almost 5,000 South African employees.
Employees will participate through a Workers Trust which will hold a 6% stake in Heineken Beverages South Africa. The scheme is open to all current and future South African full-time employees as well as fixed-term contractors of Heineken Beverages’ South African operations.
The scheme, named, Bokamoso, a Sotho word meaning “future” emphasises the notion of a collective future that recognises employees as vital stakeholders in the company.
Reflecting on the name of the plan, Millicent Maroga, Heineken Beverages South Africa corporate affairs director, says: “Our people are at the heart of our business, and we consider our employees as partners on our growth journey, geared towards our future together. We are happy that our stakeholders were in full support of our name choice.”
The company says it had opted for a perpetual employee share ownership model that has no vesting period and provides equal participation to all employees.
“As a company, we recognise that our success, is dependent on having the very best talent, highly motivated employees who are all guided by a strong sense of purpose. Having a scheme with no defined end date or fixed term, allows benefits, in the form of dividends, to flow to both present and future employees indefinitely,” says Enid Lizamore, Heineken Beverages South Africa HR director.
Heineken Beverages South Africa envisage paying dividends twice a year, dependent on company performance.