UKWANDA ADMINISTRATION SERVICES (UKWANDA) is a South African, Level 1 BBBEE, Third Party Administrator of Employee Share Ownership Schemes (ESOPs). Ukwanda is part of the Ukwanda Group of Companies, which play in the BEE and Equity space. The Ukwanda Group began its existence more than 10 years ago focusing on Enterprise and Economic Empowerment in South Africa.
UKWANDA is 100% Black Owned and Managed with a significant women and youth ownership and management.
We provide full service ESOP administration so that our clients would spend minimal time on this important but mostly non-core activity. Our goal is to maximize the strategic value of ESOPs by optimizing the benefits of the schemes to both the employees and the company thus ensuring alignment of interest between the business and its people. The systems we employ are flexible and customisable to meet our clients’ unique ESOP needs.
WHY WORK WITH US
We are able to offer unique solutions to our clients because of the following:
- Our Focus on BEE Schemes
We have a particular focus on ESOPs that are designed to enhance black economic empowerment (BEE). UKWANDA is part of a group that has for more than 10 years supported Black Economic Empowerment through BEE equity transaction support and enterprise development.
As a 100% Black owned and managed company, the dynamics of BEE are not just theory to us, we live them.
- Our Attention to Training and Communication
We believe that for ESOPs to yield best long term returns, it is of utmost importance that employees understand well how their specific ESOP works, what to expect from the scheme and how to best manage their investment. Because ESOP structures can be fairly complex, UKWANDA ESOP administration solutions emphasize good participant education, clear communication and adequate access to information for employees.
- Comprehensive Online Services and Reporting
Through our portal, employees stay up to date on the value of their shareholding, their transactions and related information. These reports can be accessed directly from anywhere or employees can make use of our help desk.
Our reporting includes a shareholder register analysis report that shows the composition of the shareholder register, and calculates the effective BEE shareholding in a scheme.
- Tax and Compliance
We assist with the tax compliance aspect that comes with Employee Share Schemes. We issue tax certificates and request tax directives as applicable in the event of a sale or liquidation of a portfolio.
- Accentuating Total Employee Experience
We structure solutions that offer a good return and excellent experience for employees while limiting cost to the employer. We for an example aim to make it simple and convenient for employees to manage their investment and trades at a reasonable cost.
- Customisable Software Solutions
The computer systems we employ are customisable to ensure that we address the unique features of each ESOP we manage.
- Full Service Backup
We have formed a close partnership with our technology partners who provide a full service backup to our services.
Our ESOP Administration Services include the following:
Maintaining the Integrity of Participant Data
- Determining eligibility for participation in the plan and processing allocations.
- Tracking vesting schedules.
- Tracking of participant movements.
- Dealing with all third parties where required.
Processing and Payment of Plan Distributions
- Performing the allocations of contributions, forfeitures, earnings and dividends.
- Processing of participant trades (sales and purchases).
- Processing participant terminations and other movements.
- Processing movements of shares within the scheme.
Recordkeeping and Reporting
- Maintaining all account records.
- Preparing individual participant statements
- Providing comprehensive reports, including participant statements and share reconciliations.
- Reporting for the annual financial reporting and disclosures.
- Assisting in providing reports for management/trustee report pack, and attending the share scheme trustee meetings where applicable.
- Preparing accounting records and monthly management reports and financial statements.
Ensuring Scheme Compliance
- Accounting – IFRS 2 accounting for Valuation of share based payments and disclosure in the annual financial statements.
- Tax – Assuring compliance with tax regulations and application for tax directives on behalf of the employer.
- Training of scheme participants on the functioning of the scheme and how to transact.
- Develop training material and provide training to trustees and HR staff.
- Managing bulk and individual communication to and from scheme participants.
- Preparing company announcements such as SENS announcements for Company Secretary.
Access to Information
- Maintaining ease of access to information by scheme participants through a call centre and web portal.
- Assisting with all participant queries.
COMPUTER SYSTEM CAPABILITIES
The features of the computer systems we employ include the following:
- Comprehensive administration solution for both executive and broad-based share incentive schemes.
- Software capabilities that cater for basic scheme administration, integrated broker execution, call centre services, employee web portal, tax directive applications, IFRS2 (Share-based payment) computations and management accounting for the scheme.
- Sufficient level of accuracy, efficiency and confidentiality that is required in the administration of share incentive schemes.
- Ability to customise our software to meet clients’ unique needs.
Key Software Features include the following:
- Automated Tax Directive applications.
- Integrated Brokerservice offering interface.
- Bulk electronic communicationto participants.
- Advancedreporting features including for accounting purposes.
- A web portal offering employees information and transacting functionality.
- Sophisticated IFRS 2 functionality (compulsory International Accounting Standard for Share-based payments).
- Built in valuation models.
- Accommodates both cash settled and equity settled schemes.
- Caters for all employee transfers, forfeitures, scheme cancellations etc.
Our team consists of highly qualified individuals who are well experienced in Financial Services, IT Systems and BEE Advisory & Support.
Below are brief profiles of our management team.
Banda Mwelase is a seasoned executive with over 25 years in the corporate sector. He has worked in a number of industries, including energy, banking and financial services. Banda’s core skill set is in strategy, compliance and governance.
Banda is passionate about leadership and strategy.
Lindo Sibisi has been active in the financial services space for the past 20 years, working as an investment banker and as a BEE consultant. He has facilitated a number of employee share ownership schemes and BEE deals in the mining and agriculture sector.
Lindo is passionate about empowerment and skills transfer.
Palesa Diale is an entrepreneur, youth activists and a business woman. She started her business career when she together with other youth activists formed the Katlehong Youth Business Forum.
Palesa is passionate about empowerment and dedicates her time towards woman and youth empowerment, focusing on entrepreneurship, skills development and training.
Palesa is an active member of the Black Management Forum.
We would love to explore how we can be of value to your ESOP. Please contact us on the details below.
Cell: 083 303 4324
Cell: 083 556 0542