The YWBN Own the Bank Share Scheme is an investment opportunity for the public to own 95 000 000 (95 million) shares, giving them 19% shareholding of the YWBN Mutual Bank. Investors have 30 days to purchase the shares from 1 to 30 June 2021. For the first time in the history of the country, HDIGs have an opportunity for direct stake in a bank of their own. YWBN Mutual Bank is certain to be a disruptive and force for change in the coming years with the Own the Bank scheme set to deliver value over time and generate a financial legacy for all who invest in it.
Ten (10) Quick Facts you need to know about Own the Bank Share Scheme
- The YWBN Own the Bank Share Scheme is open to all the members of public.
- To participate, first, you need to join YWBN to have access to the share scheme by paying once-off non-refundable membership fee of R100.
- Each share costs R10.
- A minimum of 100 (one hundred) shares at a nominal value of R10.00 (ten rand) each, or R1 000.00 (one thousand rand) is fully payable by anyone wanting to participate in the Own the Bank Share Scheme.
- Investors can purchase up to a maximum of 200 000 (two hundred thousand) shares at a nominal value of R10.00 (ten rand) each, for a total R2 000 000.00 (two million rand) worth of shares.
- The scheme allows all members of the public (individuals, stokvels, private groups, companies, trusts, etc.), especially Historically Disadvantaged Individuals and Groupings to have a direct stake in a bank of their own.
- The Bank will unpretentiously be a champion for bringing into focus the financial needs of Small Micro and Medium Enterprises, the unbanked, underbanked and underserved segment of society, the aim being to raise innovation and competition in the financial sector to help propel the industry to greater heights, albeit the inclusive way.
- Investment in the YWBN Own the Bank Share Scheme is set to deliver value over time and generate a financial legacy for all who invest in it.
- Investors have 30 days to purchase the shares from 1 to 30 June 2021.
- To participate in buying share allotment , SMS OwntheBank to 32695