Page 23 - MiNDSPACE Issue 1 2022 - Old Mutual Corporate

As Covid-19 lockdowns and economic downturns took their greatest toll on South Africa’s most vulnerable businesses, something changed in the way
changeSPACE SME support
corporate South Africa looks at small business. ‘One of the few positives that has come
Prabashini Moodley
is Managing Director of Old Mutual Corporate and has more than
18 years’ experience
in the financial services industry. This year, Africa.com included her in their Definitive List of Women CEOs, which celebrates the continent’s female corporate leaders.
out of the pandemic is that big business has rallied to partner with smaller and medium-
sized businesses,’ says Old Mutual Corporate Managing Director Prabashini Moodley. ‘Through initiatives like Business for South Africa, they now have a far deeper appreciation of the role that SMEs play in the ecosystem. Unless SMEs are thriving, society as a whole suffers.’
CREATING A WIN-WIN ECOSYSTEM
That understanding came during lockdown when it became clear that while all businesses may operate in the same markets, large and small enterprises are not necessarily rivals. Yes, global retailers and local corner shops compete for the same consumer spend, but each plays a vital role in the other’s survival.
‘We’re all in the same ecosystem,’ says Moodley. ‘Old Mutual, for example, is a B2B solutions provider. As such, the growth in our market comes from new businesses and from businesses that are doing well. As much as there is a competitor angle, there is also self-interest
at play, in that we are all in one ecosystem. At our core, Old Mutual Corporate is an employee- benefits business, and it’s in our interests to see more South Africans employed and for other businesses to do well.’
Nobesuthu Ndlovu
joined Old Mutual in 2021. She brings vast strategic, operational and fundraising experience in financial services to her role as the group’s Director: SMEs. In addition, she has first-hand experience of running an SME as the co- founder of Burgundy Fly, an online
fashion business.
ISSUE 1 2022 | 19
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