Article Details

  • Our Communities
Posted: 31 May 2016

Creating a brighter future through education

Education is arguably the single most effective vehicle for driving economic empowerment and transformation in South Africa. This is why, at Old Mutual, we strive not only to provide the means for communities to uplift themselves but also to help South Africans learn the skills required to drive economic growth.

  • The Schools and Education Investment Impact Fund South Africa has funded and operates 13 affordable independent schools operating across South Africa (SA), with approved plans for 14 more schools to come. The fund works in partnership with experts in the field of education and also provides training and equipment for educators. Ultimately, we aim to accommodate more than 40 000 learners.
  • Through the Old Mutual Foundation, we support initiatives that build excellence particularly in mathematics and science at secondary school level. By increasing the number of learners who pass these subjects and gain access to tertiary education opportunities, we aim ultimately to help grow South Africa’s skilled workforce. Our interventions at schools are intended also to assist in developing the leadership and management of the school and provide resources for the teaching and learning of mathematics and science.
  • At tertiary level, we partner with learning institutions to address inequality and promote transformation in the field of education, and to assist in developing leadership and sustainable entrepreneurship in talented students. In 2011, the Imfundo Trust was launched by Old Mutual Investment Group to address the shortage of black professionals in the asset management industry by providing investment related bursaries to disadvantaged black students. Its launch is a significant step towards ensuring that more talented black students, particularly women, are given the opportunity to build a career in the finance and investment industry. In keeping with the ethos of responsible business and citizenship, the Trust requires that students take part in community work.
  • In addition to these and other initiatives, Old Mutual is driving a popular financial education programme called “On the Money”. The programme provides an accessible way for the general public to learn the basics of money management. To make them easy to understand and remember, the guidelines are based on the behaviours of South Africa’s Big Five animals.

The workshops are delivered to various groups such as stokvels, unions, SMEs and communities interested in empowering themselves with financial management skills. Since its implementation nearly 10 years ago, “On the Money” has directly impacted almost 400 000 individuals through workshops, and a 15 million people through radio and digital programmes.

Related articles