Projected Employment Progress at Old Mutual South Africa

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This company appeals to me because it assists the public by providing the necessary investments, insurance & banking. I can become the I.T Programmer/Manager for this company with my qualification.

Old Mutual (South Africa) is the largest and most well-established financial services provider in Southern Africa. Our prominent position in the industry is reflected in our strong operating performance across all our businesses, our good balance sheet position, strong financial flexibility with demonstrated access to international capital markets and diversity of business.

Our partnership with Nedbank and Mutual & Federal (two sister subsidiary companies under the Old Mutual plc banner in South Africa) enables us to offer a variety of financial products and services. These span investment, life assurance, asset management, banking, healthcare and general insurance. Our client base comprises of individuals, businesses, corporates and institutions. (Old Mutual, n. d)

Two Potential Competitors:



OMIGSA tackles shortage of investment professionals

3/3/2011 11:57:50 AM (

Old Mutual Investment Group (OMIGSA) has launched a nationwide scholarship initiative, Imfundo Trust, to address the shortage of black investment professionals and grow the pool of suitably qualified individuals in the asset management industry. "Imfundo" means "education" in isiZulu.

The Imfundo Trust, which will spend approximately R20 million over the next five years, will focus on assisting deserving black students - with a special focus on women - to acquire tertiary training at selected top South African universities: the University of South Africa, Stellenbosch University, University of Johannesburg, Fort Hare University and Nelson Mandela Metropolitan University.

About 50 students in total have already been selected by their universities for the 2011 academic year, with each of the five participating universities enrolling eight to 10 students.

Kuseni Dlamini, Chief Executive Officer of Old Mutual South Africa and Emerging Markets said, "This investment skills initiative is in line with our economic transformation strategy - with education and skills development as critical pillars.

"The focus is on scarce skills, which are desperately needed in our growing economy. To this end, selected students will focus on specialist subjects such as developmental economics, finance (with a special emphasis on accounting and statistics), law and agriculture."

He added: "Providing opportunities that our young people can seize and run with is central to Old Mutual's approach of helping South Africa to do great things. It's guided as much by a sense of responsibility as by the notion of what's good for business is good for South Africa. That's why our efforts in poverty alleviation, economic transformation, and skills and enterprise development all aim to provide catalysts for greatness among ordinary people."

As part of their training, the students will be required to do community work during holidays to fulfill one of the Trust's objectives of developing responsible citizens as well as investment professionals who are firmly grounded in the socio-economic challenges of South Africa.

As agreed between the Trust and the respective universities, the scholarship will cover studies at both the undergraduate and graduate levels, covering expenses such as: tuition costs; books and other study materials; limited travel costs for students not studying in their home towns; and a general allowance.

The Trust will be chaired by Rojie Kisten, an OMIGSA executive known for her passion for empowerment issues. Old Mutual's black empowerment partners Wiphold and Brimstone are represented by Debra Marsden and Iqbal Khan, respectively, on the Imfundo Trust board, while Henk Beets, a retired OMIGSA executive with a wealth of investment experience and expertise, is an independent trustee.

"The students will have no obligation to work for OMIGSA following the completion of their studies," added OMIGSA CEO Diane Radley. "Instead, we aim to increase the pool of qualified black investment professionals available to the entire asset management industry. And it's not just about investments - more generally, our economy needs far more people with these specialist qualifications - such as agriculture and developmental economics - to help improve efficiency and economic growth going forward."

Terence Berry, Principal of the Academy of the Association for Savings and Investment South Africa (ASISA), welcomed the OMIGSA scholarship initiative as a significant step towards ensuring that more talented black students are given the opportunity to build a career in the savings and investment industry.

The ASISA Academy supports ASISA member companies with, among others, skills development programmes aimed at helping new investment Professionals Bridge the gap between the theories learned at university and the realities of the investment environment.

"We are very excited about this initiative and look forward to working with the Imfundo Trust and the member companies who will be employing these young people once they complete the theoretical part of their training," said Berry.

Two new BEE Property Funds set for 2011

28 Feb 2011 (

Two new property funds run by black-owned management companies will get under way in 2011 with backing from Old Mutual Investment Group Property Investments (OMIGPI).

Firstly, Neo Africa Properties (Pty) Ltd is developing a fund of commercial properties leased to the government that will meet the Department of Public Works' broad-based black economic empowerment (BBBEE) policy for ownership.

Secondly, the Urban Growth Fund will comprise property investments that incorporate the core principles of responsible investment. Fund investments will include urban regeneration, township developments, investments in health and education facilities and green buildings. The fund's activities are primarily development led in order to maximize the growth of property assets in the responsible investment area.

OMIGPI, which is rated as a level 2 BBBEE contributor, will have a minority interest in both Greenfields management companies, says managing director Ben Kodisang.

"OMIGPI views this as the ideal way to transfer skills to the property industry in line with the requirements of the Property Charter, "said Mr. Kodisang. "By collaborating with these select partners to set up these initiatives, we are pioneers in promoting the expansion of asset management capability that will ultimately benefit the broader industry."

Neo Africa Properties is run by CEO Musa Ngcobo and executive director Nic Corbishley. Mr. Ngcobo is chairman of the SA Property Owners' Association transformation committee, a member of the Property Sector Charter Council and co-founder of NEO Africa Properties, a subsidiary of NEO Africa, a diversified BBBEE consulting and investment holding company. He is also a non-executive independent director of JSE-listed SA Corporate Real Estate Fund. Mr. Corbishley, who has decades of experience in the property industry at board level, is a director and shareholder of Neo Africa Properties.

Mr. Ngcobo said the Neo Africa Properties fund will source assets from property owners who do not comply with the requirements of the Department of Public Works strategy on BEE, job creation and poverty alleviation, from existing BEE players seeking an exit, from underutilized government stock, and by acquisition from major players such as the Triangle Real Estate Fund and SA Corporate Real Estate Fund.

"Our aim is for the management company to be cash flow-positive by the second quarter of 2011," he said.

The Urban Growth Fund is run by Vusi Nondo and Anil Dhanjee, formerly portfolio managers at OMIGPI. Mr. Nondo was responsible for managing the Old Mutual SRI Real Estate Fund, valued at R550 million. Mr. Dhanjee was responsible for setting up and managing the Triangle Real Estate India Fund, which is investing R500 million in retail-focused projects in Aurangabad, Nagpur and Coimbatore on the Indian sub-continent.

Mr. Dhanjee said: "We welcome this opportunity to be part of a pioneering initiative. Our experience at OMIGPI will be invaluable in establishing a fund with rigorous governance to meet the requirements of both institutional and large individual investors."

Mr. Kodisang said OMIGPI is providing start-up capital for the two management companies through interest-free loans repayable by 2012. "While OMIGPI will have joint control of the boards, executive responsibility will reside with the majority black shareholders. OMIGPI will also be providing administrative support and operating infrastructure and intends to exit its investments in the medium term, once the businesses are well-established."

Articles Summarize

By Louis Basenese, Advisory Panelist

Senior Analyst, the Oxford Club

Thursday, February 26, 2009: Issue #944

This graph shows the stock performance after Recession. It starts from after 1 month and goes up to 3 years later showing the trend that it is growing rapidly. The light green bars represent large Stocks and the dark green represents small stocks. In this industry you can see that a company of Old Mutual Status quickly bounces back after an economy recession. This proves why it is the largest and most well-established financial services provider in Southern Africa. That is why I would love to work in this company it is a force to be reckoned with.

Information Technology Programmer:

I can start out as a junior programmer, taking orders from the senior programmers and I.T Manager.

Then three years later I can be promoted to a senior programmer and would have to study further for a degree which would make me an important asset to the company, well recognized in the industry. Five to seven years of experience in the I.T field with a degree I would be wanted left and right by local and overseas companies. It would also depend if I do my work and im excellent at it.

What is your role at Old Mutual?

As an analyst programmer, my work originates from a request from the business, and generally varies from designing a new programme, fixing an existing solution or improving upon it. I use Delphi (a programming tool) and tend to spend a large amount of my time analysing the existing programming code to develop the solution.

Attention to detail is critical, with part of my role being to test the programme throughout the developmental phase. Finally, before the solution is handed over to the business, it is thoroughly tested once more to ensure that it meets the original business specifications and is free of any errors.

How do you help Old Mutual stay ahead?

For Old Mutual to become number one, we need to work smarter. In my role, this means creating programmes that are quick and easy to update and use.

What is great about working for Old Mutual?

I like the structure of a big corporate like Old Mutual, which enables staff to focus on their particular job, and yet at the same time, I value the versatility they offer in terms of allowing one to work flexible hours.(According to Stephen Oberauer analyst programmer of Old Mutual SA)