More about Leolo Community Trust

ABOUT THE TRUST

  • The Leolo Community Trust is a not-for-profit organisation that was formally constituted in 2013.
  • Palabora Mining Copper (Pty) Ltd is the Founder member of the Trust.
  • The primary purpose of the Trust is to undertake activities for the benefit of members of the 5 Traditional Authorities of Majeje, Makhushane, Maseke, Mashishimale and Seiwana.
  • The Trust is a 10% shareholder in Palabora Mining Copper from which it receives annual dividends

CONTROL & MANAGEMENT OF THE TRUST

  • Similarly to all other trusts, the overall affairs of the Trust are governed by a Trust Deed and controlled by a Board of Trustees.
  • The Trust Deed provides that the number of Trustees “………… shall at all times be a minimum of 6….” and–there shall be “….no more than 10
    Trustees in office at any one time….”.
  • The 5 Beneficiary Communities are each represented by a single Trustee.
  • The Trust Deed further provides that 4 Independent Trustees must be appointed “…. 2 of whom must have suitable financial qualifications

  • …. and 2 of whom must have suitable legal qualifications”

  • The day-to-day management and administration of the affairs of the Trust is undertaken by an Administrator and an Assistant

DISTRIBUTABLE FUNDS & AUTHORISED EXPENSES

  • The Trust Deed describes the Distributable Funds as the amount of cash available after payment of the Authorised Expenses.
  • The Trust Deed has placed a ceiling for Authorised Expenses by stating that the cost of administering and running the affairs of the Fund shall not exceed 15% of the Trust Income in respect of any given Year”.
  • In addition to the payment of the Authorised Expenses, the Trust Deed calls upon the Trustees to “….set aside from the Distributable Funds an amount of R1 000 000 as an Emergency Fund which will be utili&ed to assist Beneficiaries in the event of emergencies, such as natural disasters”.
  • It goes further to point out that “……….. This amount is to be placed in a Trust Account and is to be topped up when necessary in accordance with
    the Consumer Price Index (Inflation)”

ALLOCATION OF THE DISTRIBUTABLE FUNDS

  • The Trust Deed describes that the Distributable Funds must be divided 3 ways as follows:

Royal Families 10%: By way of providing for the sustenance of the Royal families of the 5 Beneficiary Communities, the Trust Deed states that ” 10% of the Distributable Funds, subject in any event to a maximum of R300 000 per Royal Family per year. shall be allocated to the Royal Families”

Enterprise Development Fund 20%: The Trust Deed further provides that “The Trustees shall procure that an Enterprise Development Fund (EDF) is established through which no more than 20% of the Distributable Funds in any given year shall be ring-fenced for purposes of enterprise development”

Trust Benefit Activities 70%: Regarding the greater portion of the Distributable Funds, the Trust Deed states that the Trustees shall

“…..allocate at least 70% of the Distributable Fund to Beneficiaries for the purposes of undertaking…… Trust Benefit Activities (TBA)”

FUNDING PROGRAMMES OF THE TRUST

  • The Trust, through the Trust Deed, has established 2 funding programmes through which it aims to fund community based activities and enterprises within the Beneficiary Communities.

    The main programme is the Trust Benefit Activities whose main objective is to provide funding for community development and capacitation activities for the 5 Communities

    The second programme is the Enterprise Development Fund whose primary objective is to encourage entrepreneurship, create jobs and assist with transfer of business skills within the Communities

LEOLO STRUCTURE

REPRESENTATIVE TRUSTEES

1. Malatji Diboko Hendrick from Mashishimale Community{Chairman)

2. Mabobo Phillip Nikiwe from Majeje Community

3. Malatji Mokgadi Sarah from Maseke Community

4. Malatji Khashane Samuel from Selwane Community

5. Malatji Maile Leonard from Makhushane Community

 

INDEPENDENT TRUSTEES

1. Malatji Thabo Reuben (Legal)

2. Pilusa Tumelo Costa {Legal)

3. Seemela Lethabo lgnatia {Finance)

4. Shayi Vinolia Cathrine (Finance)

 

FOUNDER TRUSTEE

1. Madise Dennis from Palabora Copper (PMC)

 

PRINCIPALS

1. Kgoshi Malatji Mmaula Rossly from Maseke Community

2. Kgoshi Malatji Tebogo Phillip from Selwane Commununity

3. Kgoshi Malatji Matome Ananius from Makhushane Community

4. Kgoshi Shayi Mosibutjana Audrey from Mashishimale Community

5. Hosi Mlungisi Ntsanwisi from Majeje Community

 

THE OFFICE TEAM

1. Malatji Laban (Administrator)

2. Mokgalaka Aubrey (Assistant Administrator)

3. Ramalepe Lerato (Technical)

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