Application for MTN's R8.1-billion Zakhele empowerment deal, which will see 4% of the group transferred to black members of the public, open tomorrow.

Under the terms of the deal, interested parties can buy Zakhele shares for R20 each. This investment will give them exposure to MTN shares and should translate to a full MTN share by the end of the deal's six-year term, group spokesman Nozipho January-Bardill said.

A minimum investment amount of R2000 is required. Should the deal be oversubscribed, smaller applications will enjoy preference.

Shareholders will not enjoy voting rights or dividends for the first six years, but will be allowed to sell Zakhele shares to other black investors after year three. After year six, shares can be sold on the open market.

The offer closes on October 14. Applications are available from MTN stores and Post Office branches.