KleuterZone Can't Pay

March: Investors Still to Receive Dividends and Rent Still Unpaid

- Liesl Peyper

KleuterZone failed to pay dividends to investors by Monday as expected. According to eight investors who spoke to Moneyweb over the past two days, they have not received a cent of their promised dividends for March, as the company committed to do.

The investors usually receive payments on the seventh day of each month.

Following Moneyweb's reports on the sustainability concerns regarding KleuterZone's advertised high returns and business model, many complaints have been received from investors and school owners who have engaged in business with KleuterZone.

KleuterZone is a national nursery franchise that promised its investors annual returns of up to 62.4%.

The company was founded by Anthonie Bougas, a former singer and television presenter.

Investor updates

Investors received WhatsApp messages late on Monday from Kobus Schoeman, former KleuterZone CEO.

Schoeman tendered his resignation on 20 February after it emerged he was struck off the roll as an attorney in 2018.

He said in a voice note to Moneyweb that the incident that led to his removal involved trust money that was stolen, but maintained that he was innocent.

He is however still involved in KleuterZone's operations.

He sent a message to staff members last week, saying although he had resigned as CEO, he would still deal with the day-to-day operations.

Schoeman has now filled the void left by the absence of Bougas, who, according to Rapport newspaper, left South Africa and is in Bangkok, Thailand.

No dividends, no rent