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Old Mutual and BEE

Old Mutual has achieved level 2 status for the fifth consecutive year with a Broad-Based Black Economic Empowerment (B-BBEE) score of 89.17.

As a responsible business, Old Mutual's business strategy is closely aligned to the National Development Plan (NDP). Old Mutual is one of the key players in facilitating the economic inclusion of more South Africans and helping build a capable state very seriously.

The Old Mutual, WIPHOLD and Brimstone partnership is a joint venture about potential and possibilities. It’s a story about opening doors, of creating hope and delivering opportunity. It’s a story of choice, empowerment, inclusion and education.

It’s a story about empowering people to do what they want to do. It’s a story that lets people be creative. It lets people be productive. It lets people be free. It creates a future. It creates hope.

Quick facts:

  • Old Mutual is fully committed to transformation.
  • It is important to note that we are a level 2 BBBEE contributor using the new Financial Service Code and we have every intention to maintain and eventually improve on that status.
  • The Old Mutual plc board has recently been voted first in terms of the most improved on gender diversity among the FTSE-100 companies.
  • In South Africa we have senior black executives at the helm of many of our businesses; in fact, more than half of our pre-tax profits from Old Mutual SA(64%) and Old Mutual Emerging Markets(54%) are delivered by business segments led by South African black executives.
  • Embracing transformation is a vital factor in responsible corporate citizenship. Our group is serious about redressing past inequalities and embedding broad-based empowerment into the fabric of our organisation to secure long-term stability and growth for our company, our employees, our customers and our shareholders.
  • Old Mutual South Africa was the first financial services company in the Long-Term Insurance category to be awarded Level 2 Broad-Based Black Economic Empowerment (B-BBEE) status as measured by the new Financial Sector Code legislated in November 2012. Furthermore, we have maintained level 2 B-BBEE status for five consecutive years.
  • Old Mutual South Africa and Nedbank (within the Old Mutual plc stable) both continue to be the leaders in national transformation and empowerment.
  • During 2014 Old Mutual and Nedbank both achieved podium places in the annual Mail & Guardian Most Empowered Companies Index survey.
  • With the overall rankings for the Top 100 Most Empowered Companies, Old Mutual achieved second place (from fourth in 2013) and Nedbank came fifth.
  • We have built a solid track record of increasing our representation of South African black leaders at both middle and senior management levels. Over the past seven years we've made huge strides in increasing our South African black senior management representation from about 17% to 38%. We have increased our South African black middle management representation from 30% to 54%.
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