Transformation

Old Mutual Multi-Managers is committed to transformation and black economic empowerment and is involved in several initiatives.

As a member of the Old Mutual group, Old Mutual Multi-Managers is committed to transformation and black economic empowerment.

Corporate Social Investment

Old Mutual's social vision is to invest in South Africa's economic success by contributing to jobs, education and skills creation to benefit the most vulnerable of our communities and their members.

By investing in the economic success of South Africa, we are investing in our customers' and potential customer's economic success. This commitment is underpinned by our fundamental belief that: "What is good for South Africa is good for Old Mutual".

Old Mutual has been involved in corporate social investment initiatives since 1965. The Old Mutual Foundation was established in 1999 as part of the company's demutualisation process.

Employment Equity

Old Mutual Multi-Managers is a division of the of the Old Mutual Life Assurance Company South Africa, which has 29.48% black ownership, based on the Broad-Based Black Economic Empowerment (BBBEE) Codes of Good Practice. The group has a Level Two BBBEE rating (Valid from Oct 2011 to Oct 2012), as verified by AQ Rate Verification Services. Even though we are a part of the broader Old Mutual Group we aim to deliver on the Financial Sector Charter Employment Equity targets in our own right. We ensure that we have the appropriate professional skills and experience in a diverse team of individuals.

BEE Ownership

In June 2005, the Old Mutual PLC board approved Old Mutuals R7.2bn broad-based BEE deal, benefiting staff, customers, stakeholders and our new partners:

  • WIPHOLD consortium including Sphere Holdings (1.7% ownership of Old Mutual South Africa)
  • Brimstone Holdings including Mtha (1.7% ownership of Old Mutual South Africa)
  • Staff and Senior Black Management (6.7% ownership of Old Mutual South Africa)
  • Customers and Intermediaries (3.4% ownership of Old Mutual South Africa)

The BEE deal resulted in 13.5% of Old Mutual South Africa being held by our black shareholders. It is also estimated that another 3.5% of Old Mutual South Africa is black-owned.

BEE Certificates

Preferential Procurement

As a member of the Old Mutual Group, Old Mutual Multi-Managers forms part of Old Mutual's procurement program. Old Mutual South Africa is committed to playing its role in the development of historically disadvantaged communities in South Africa and in contributing to the transformation process in the country. This commitment is evidenced by the current implementation of a Corporate Citizenship transformation programme throughout the country.

Old Mutual's group strategy in respect of procurement of goods and services from Small, Medium and Micro Enterprises (SMMEs), Black Empowerment Enterprises (BEE) and from Disabled Owned Enterprises (DOE) is one of the key components of the Old Mutual transformation programme.