DEmpower / DEC exit as Sphere shareholders

When Sphere was established in 2003, its founding shareholders had the privilege of donating shares in Sphere to three charitable organizations, one of them being the Disability Empowerment Concerns Trust (the DEC Trust).

The DEC Trust endeavors to contribute to the sustainability of six South African,  Non-Governmental disability organisations (Disability Organisations). All of these Disability Organisations are beneficiaries of the DEC Trust and are focused on promoting the awareness of, and human rights with respect to, persons with disabilities in South Africa and, more importantly, the economic empowerment of these persons. The ultimate objectives of these Disability Organisations is to eliminate poverty, reduce unemployment and achieve inclusive economic growth and human development amongst South Africa’s disabled persons.
 
In 2020, DEmpower Limited (DEmpower) acquired the shares that the DEC Trust beneficially owned in Sphere. DEmpower has close on 50 shareholders with disabilities and accordingly has similar objectives to those of the DEC Trust with respect to disabled persons in South Africa.
 
The DEC Trust has distributed over R180 million to the Disability Organisations to date. Sphere is consequently proud to have played a role in this regard over the years by distributing over R40m to these two Disability Organisations.

Having been associated with the DEC Trust and then DEmpower for approximately 18 years, Sphere is now pleased to have facilitated the exit of DEmpower as a Sphere shareholder. Following Sphere’s long and mutually beneficial relationship with these two Disability Organisations, Sphere wishes both of them all the best in their future endeavours with respect to their objectives in South Africa.