Old Mutual Seeks To Help With Social Issues With Its CSI Projects. Old Mutual Limited is a pan-African investment, savings, insurance, and banking group. It is listed on the Johannesburg Stock Exchange, Zimbabwe, Namibia and Botswana Stock Exchanges. It was founded in South Africa by John Fairbairn in 1845 and was demutualised and listed on the London Stock Exchange and other stock exchanges in 1999. It introduced a new strategy, called ‘managed separation’ that entailed the separation of its four businesses – Old Mutual Emerging Markets, Nedbank, UK-based Old Mutual Wealth and Boston-based Old Mutual Asset Management (OMAM) – into standalone entities in 2018. This led to the demerger of Quilter plc (formerly Old Mutual Wealth) and the unbundling of its shareholding in NedBank. The business, which is now largely based in South Africa, provides sponsorship and supports bursaries at South African universities.
The company’s purpose is to help its customers thrive by enabling them to achieve their lifetime financial goals, while investing their funds in ways that will create a positive future for them, their families, their communities and broader society. In this way, it significantly contributes to improving the lives of its customers and their communities while ensuring a sustainable future for its business.
Old Mutual provides financial solutions to individuals, small and medium-sized businesses and corporates in South Africa, the rest of Africa and certain other emerging markets. It offers an array of life assurance-based solutions and short term insurance. The company grows its customers’ savings and wealth through active and direct asset management and selecting funds for customers to invest in through multi-managers. It provides loans and debt consolidation loans tailored to the individual needs of its customers. It also offers Money Account which is a low-cost transactional account and a unit trust savings account.
Old Mutual is committed to creating the kind of change that has a positive, sustainable impact across South Africa. Hence it created the Old Mutual Foundation; the aim of the foundation is to empower people and communities through skills development, education, socio-economic transformation and job creation.
This foundation seeks to alleviate the distress of the vulnerable and defenceless. It provides relief and care to those in its society who are in need of compassion, disenfranchised or have been rendered voiceless – the elderly, neglected and orphaned children, including people with disabilities. Its focus is mainly in rural and peri-urban communities as it strives for improving lives in areas that need it most. The foundation funds registered non-profit organisations with at least 75% black beneficiaries which address poverty alleviation, income generation, provision of skills and psychosocial support to the vulnerable. It also provides aid in cases of emergency disaster relief.
