KleuterZone CEO provisionally sequestrated
KleuterZone's Kobus Schoeman continued to disseminate misleading messages to investors, even after reports that the franchise defaulted on dividends. Picture: KleuterZone website
The personal estate of former KleuterZone CEO Kobus Schoeman was provisionally sequestrated on Wednesday (7 May).
He did not oppose the application.
Schoeman declined to comment on the matter, stating to Moneyweb that he may do so at a later stage after consulting his legal representatives.
He is the second high-profile individual in the KleuterZone franchise to be provisionally sequestrated, following the sequestration of founder Anthonie Bougas's estate on 8 April.
Bougas's parents, Rensche and Anton, are also facing provisional sequestration. They must give written notice of their intent to oppose the application by the end of Thursday (8 May).
ALSO READ: KleuterZone's collapse: Parents of founder also facing sequestration
Schoeman's sequestration application
Hannes Muller and Madelein Kuilder, joint provisional liquidators of KleuterZone Pty Ltd, argued in their 17 April affidavit to the Western Cape High Court that Schoeman's conduct as CEO raised concerns about fund misappropriation, investor money abuse, and ongoing unlawful activity post-liquidation.
They detail Schoeman's continued involvement in KleuterZone's affairs even after its provisional liquidation on 26 March 2025.
According to the affidavit, Schoeman misappropriated funds and improperly disposed of assets and has continued to dissipate funds through third parties, including his immediate family members.
A review of the financial records shows that in addition to receiving a declared salary of R60 000 per month as CEO of KleuterZone, Schoeman received total payments amounting to more than R2.6 million between April 2024 and February 2025.
ALSO READ: Another KleuterZone company in provisional liquidation
Payment for 'legal services'
The payments included sums invoiced for 'legal services' rendered to KleuterZone, although Schoeman was disbarred as an attorney in 2018.
'The absence of proper documentation substantiating the services rendered, combined with his ineligibility to practice … evidences the legitimacy of the misappropriation of investor funds.'
The liquidators further note that Schoeman used his children as financial conduits to 'conceal the flow of misappropriated funds'.
Between June 2024 and February 2025, over R490 000 was transferred to Schoeman's bank account from his son's account. Additionally, R301 000 was deposited into his account from his daughter's account.
Moreover, on 7 and 8 March this year, soon after the first reports about KleuterZone's financial viability were published, Schoeman transferred R400 000 and R600 000 to the bank account of his mother-in-law.
'No documentation has been offered as to the basis on which she would be entitled to such large amounts.'
ALSO READ: KleuterZone share certificates reference companies that do not exist
Misleading investors
According to the liquidators, Schoeman continued to disseminate misleading messages to investors, even after reports that KleuterZone had defaulted on dividend payments.
'[After] it became evident that the company was both factually and commercially insolvent and unable to meet its obligations … [he] continued to portray the company as solvent and on the verge of recovery.'
The liquidators note that on 1 March, Schoeman sent correspondence to two investors in which he promoted additional investment opportunities in KleuterZone schools.
ALSO READ: Bougas estate provisionally sequestrated
Provisional liquidations
So far, five of the KleuterZone management companies have been placed into provisional liquidation:
KleuterZone Pty Ltd; KleuterZone Operations; KZ Ventures; KleuterZone Empowerment; and KleuterZone Holdings.
The liquidation of ABS Productions, Bougas's company known for producing promotional films, music videos, and event videography, has been finalised.
This article was republished from Moneyweb. Read the original here.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Daily Maverick
3 hours ago
- Daily Maverick
Letter to Mahlamba Ndlopfu — standards of bribes have plummeted in South Africa
Ah, Chief Dwasaho! This week, the ANC's Integrity Commission (what integrity?) cleared King Paul Mashatile of the Alex Mafia nation of corruption allegations relating to his 'family homes'. No case existed to begin with. Is this the time to say: I told you so – or is it too early? Integrity Commission finds no fault… Shock! Horror! Gasp! According to eNCA, 'the ANC's integrity commission has cleared the party's Deputy President, Paul Mashatile, of any wrongdoing concerning his luxury homes'. What law was supposedly broken by spending a night – or perhaps several years – with the in-laws? One is tempted to ask: can the mere fact of maternal hospitality constitute prosecutable misconduct? Surely not. The law of evidence should not be twisted into a pretzel to suit weak gossip, nor should the ANC display such feeble moral imagination as to call this a scandal. You'd think there would be a law against unethical behaviour and a criminal offence for serious misunderstandings of our legal system. But sadly, no such legislation exists – so spare us the dramatics, the moral grandstanding, and the moral panics. His Deputyship is a man of high moral standing. He once told the 'now-disgraced' broadcaster, JJ Tabane, the unvarnished truth: 'I don't steal, I've never been involved in corruption.' I have no doubt he was right. I see no reason to believe that poorly educated journalists with sleeping problems, an affinity for adult beverages, and, some might say, poor judgement in choosing life partners, can hold a man – or men – to account. Who guards the guardians? Guardians, bribes and Dior bags Speaking of guardians, my esteemed colleague Pieter-Louis Myburgh swears he's delivered what could be the first exposé to catch a bribe recorded on video. The stars of this production? The recently suspended Independent Development Trust (IDT) CEO, Tebogo Malaka, and the entity's smooth-talking spokesperson, Phasha Makgolane. For the record, the IDT is a proud entity of the Department of Public Works and Infrastructure – yes, that very department which delivers on its promises with all the speed and efficiency of a one-legged tortoise on crutches. It appears Malaka has developed a sizeable property portfolio, including a R16-million mansion tucked neatly inside Gauteng's Waterfall Country Estate. And of course – courtesy of… well, you see, I have a weak heart, a single loving wife, type 2 diabetes, an unpaid bond, and 10 children who depend on me. In other words, I'm in no position to be sued. Death of corruption with class Still, the standards of bribes have plummeted in this country: R60,000, stuffed into a white Dior shopping bag and slipped into a white envelope – note, not the classic, respectable brown – handed over in broad daylight at a wine farm restaurant. That alone should have been the first red flag. The second? Conducting the handover at an outdoor table, in full view of fellow diners, as if corruption were now an Olympic spectator sport. Now, everyone knows bribes are meant to be exchanged in dull, smoke-filled, dimly lit rooms overrun with the gentle soundtrack of pole dancers, political crosstitutes, cross-dressers, prostitutes, drug dealers and well-built, tall Nigerian bouncers with menacing, bloodshot eyes. Men, in various stages of intoxication and ill-concealed lust, lean against sticky counters, while drug pushers glide from table to table, making furtive hand signs – two fingers to the nose – signalling that cocaine is on offer. In other words, Pieter-Louis was dealing with amateurs. And really, R60,000? What an insult. You attempt to bribe a youngish white male born after apartheid – no land, no farm, no guaranteed job – with R60,000, when a single bottle of Glenfiddich 50-year-old was going for R600,000 in Makro's festive-season catalogue in November 2023. Bribing in instalments: A 24-month, no-interest deal The amount of money exchanged is the kind of offer you make when trying to buy a second-hand 1912 Toyota Corolla with one missing hubcap. Worse, my leader, they promised Pieter-Louis regular R100,000 payments and easy access to IDT tenders… But here's the punchline: he'd have to do the work himself. Organise the contractors, submit the paperwork and launch a foundation to process the kickbacks before withdrawing the cash, leaving a paper trail thicker than the Zondo Commission's final report. What sort of bribery syllabus is this? 'How to Incriminate Yourself 101'? At this rate, the next bribe will be handed over at a Woolworths checkout counter, wedged between a rotisserie chicken and a packet of organic baby spinach. If IDT head honchos can't even organise a bribe with a bit of class, perhaps it's time they subcontracted the job to the real professionals – the ones who still believe in the brown envelope, a dingy club and the bouncer who knows when to look away. Public service announcement To all aspiring State Capturers, tenderpreneurs and amateur bribers – do not, under any circumstances, attempt to bribe anyone in instalments. It is bad form, unbecoming of the grand South African tradition, and frankly insulting to your intended target. Now, everyone understands there are rules. Bribes, like ANC branch annual general meetings and their elective conferences, require a ceremony of the disgraced. Instead, these two chose a Sunday afternoon in the Cape Winelands, perhaps thinking the chardonnay would pair well with their criminal intent. Bloody idiots. Comrades, at least have the decency to do it properly: one payment, no paper trail, and preferably somewhere without a wine list and cameras. Of bribes, low class and no manners On the subject of bribes, many moons ago, a journalist walked into my office at the legislature, where I was serving as a media liaison officer. He was a familiar face – the kind of reporter who was practically part of the furniture in the media gallery. Without ceremony, as he lowered himself into the chair opposite me, I calmly closed my laptop and flipped my documents facedown. In those days, this was a standard practice, part of what the then National Intelligence Agency said was 'protocol'. We exchanged the usual pleasantries and small political talk. Then he got to the point. He claimed to have a mobile broadcast truck that could revolutionise our media coverage in community radio. I nodded politely, letting him make his case. And then came the hook: if I gave his company the job (tender), we would 'share the spoils'. Imagine walking past tight security, through the body scanner, into my office, and proposing a bribe without even an imvula mlomo to sweeten the deal – not so much as a courtesy cold beer or even a token gesture like a Glenfiddich 12-year-old. Just the raw, unseasoned proposition, slapped onto my desk like a resignation letter. Covert operation or the dumbest criminals? I looked him squarely in the eye and delivered the classic ANC denial: 'I do not sit in tender committees.' He stood up and left, an egg on his face – clearly runny, dripping, and visible from across the corridor. I threw my hands in the air, defeated, displeased, disillusioned, disheartened, disgusted, and frankly disturbed. What on Earth gave him the idea that I was bribeable? Was this a loyalty test, or was I on some underground BlackBerry Messenger list of 'low-maintenance' targets? The audacity haunted me for years. In the old political underworld, such an approach would have been carefully choreographed: a discreet third-party intermediary, a plausible cover story, and a brown envelope slipped under a desk marked 'Confidential.' But here was a man pitching corruption like a Makro clearance sale – blunt, artless, shame-free. I could not decide which was worse: his insult to my principles or the craft of bribery itself. If you're going to try to buy my silence, at least have the professional courtesy to follow the rules of the game. This, Comrades, was corruption without class. My leader, askies. I read in the news that the pipe-smoking former president, Thabo Mbeki, has joined forces with the FW de Klerk Foundation, other foundations and the Freedom Front Plus to snub the National Convention – the supposed launchpad for the National Dialogue. What common cause does Mbeki have with the apartheid apologists? Is it now a bridge too far to bribe the foundations? Neither Woolworths nor Makro offered financial or material support for this article. No bribes were paid or accepted, no animals harmed, and no journalists killed, as in Gaza.
The Citizen
2 days ago
- The Citizen
Accused Heidelberg lawyer disputes age of girl in human trafficking trial
The Heidelberg lawyer accused of buying a 13-year-old girl from her mother, who allegedly sold the sexual services of her underage girls on websites, is now disputing the girl's age. Boksburg Advertiser reports that Carel Schoeman and his co-accused, the mother, made another court appearance in a High Court sitting at the Palm Ridge Magistrate's Court. Schoeman faces 26 charges, while the mother faces 72. Both accused pleaded not guilty to all charges during an earlier court sitting. The charges include rape, sexual abuse of a minor, child trafficking and pointing a firearm. The alleged crimes took place between mid-2022 and early 2023 in areas across Gauteng, the Free State and KZN, including Boksburg, Heidelberg, Brakpan, Springs, Villiers, Amanzimtoti and Ramsgate. In his plea explanation, Schoeman claimed he believed the girl was 19 years old at the time of the alleged offences. During the court proceedings, Schoeman's advocate, Sita Kolbe SC, cross-examined former investigating officer Captain Veronica Banks. Kolbe questioned whether the complainant's age was medically verified. Banks said it was not necessary, as a copy of the girl's birth certificate was sufficient, and the mother also confirmed her age. Kolbe further asked Banks why the police did not accept an ID stating the girl was 18. Banks said this identity document was fake. She testified that the minor girl referred to a relationship she had with another man and said that she had undergone an abortion. Kolbe questioned why the other man had not been arrested. Banks responded that having a relationship with someone does not necessarily mean that sexual intercourse took place. According to Banks, there is a list of names showing payments made to the mother. This would be investigated separately. The mother's aunt also testified. During cross-examination, the witness mentioned a phone call from the eldest daughter, in which the child asked if she could stay with her. The trial continues. Breaking news at your fingertips… Follow Caxton Network News on Facebook and join our WhatsApp channel. Nuus wat saakmaak. Volg Caxton Netwerk-nuus op Facebook en sluit aan by ons WhatsApp-kanaal. Read original story on
IOL News
3 days ago
- IOL News
Weaver Fintech's growth boosted by acquisition of 130 000 new women customers every month
Sean Wibberley, the CEO of Weaver Fintech. Weaver Fintech serves more than 3.7 million customers (a figure in itself 48% higher than the same period to June 30, 2024, 70% of which are tech-forward African women. The group is currently acquiring an average of 130 000 customers a month. Image: Supplied Weaver Fintech has declared a remarkable first half, a pre-tax profit surge of 48% to R370 million, attributed to a robust revenue growth of 29% that reached R2.6 billion. This was according to the company's half year results to June 30 that were released on Tuesday, and which followed the rebranding last month from the former name, Homechoice International. Weaver Fitnech's share price went up 79.34% to R44.80 on Tuesday afternoon, reflecting the goood results. CEO Sean Wibberley expressed his enthusiasm for the firm's performance, remarking on the company's evolving 40 year relationship with both customers and merchants. 'Our results show how deeply our ecosystem resonates with customers and merchants. We had a very good first half, off the back of a strong second half of last year. We are not just scaling – we're transforming how financial services are accessed and experienced across South Africa,' he said. Weaver Fintech has successfully captured the attention of 3.7 million customers, 70% of whom are tech-savvy women from Africa, marking a 48% annual increase. The company is acquiring an impressive average of 130 000 new customers monthly, with most new users drawn via word-of-mouth or through engagement on platforms while shopping. The firm's fintech division is driving this remarkable growth, constituting 98% of the group's pre-tax profit. The Retail division, meanwhile, also showed promising results, recording a 63% uptick in operating profit, underlining the overall robustness of Weaver's operations. Video Player is loading. Play Video Play Unmute Current Time 0:00 / Duration -:- Loaded : 0% Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Background Color Black White Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Transparent Window Color Black White Red Green Blue Yellow Magenta Cyan Transparency Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Dropshadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. Advertisement Next Stay Close ✕ In a testament to its resilience in challenging economic times, Weaver Fintech reported a 47% growth in fee income, contributing 28% towards total revenue. This came alongside a 47% increase in cash collections to R7.7bn, indicative of efficiency in its digital collections model. Wibberley shared insights into the company's proactive approach to customer challenges, explaining how they effectively responded to increasing retrenchments among clients. As aid from the US was withdrawn for certain organisations, Weaver Fintech offered practical solutions, allowing clients to reduce their monthly loan payments during such transitions. With a compound annual growth rate (CAGR) exceeding 30% since 2021 in both revenue and profits, the fintech sector has emerged as a cornerstone of Weaver's strategy. Revenue for this division alone surged 39% to R1.6bn, with fees rising 43% to R581m, showcasing the effectiveness of their scaling digital business model. The trading brands, Finchoice and PayJustNow, also made significant strides, acquiring more than 110 000 new customers monthly. The fintech ecosystem is fostering rapid product adoption in lending, payments, and insurance, with a notable 20% growth in customers utilising two or more products. Plans are underway to broaden the fintech ecosystem, aiming to introduce advanced Business-to-Business (B2B) merchant services to its diverse network of over 3 100 merchants. Wibberley mentioned the strong engagement witnessed, noting 496 million customer interactions and 20 million lead referrals occurring in just the first six months of the year. The Retail division's omni-channel homeware brand, Homechoice, reported an encouraging 12% sales growth to R677m and a substantial 63% profit rise to R31m. Furthermore, new customer acquisition was up by 38%, with 131 000 new clients in the first half of 2023, bolstered by the expansion of showrooms from 22 to 46 across seven provinces.
