Overview - South Africa
Old Mutual South Africa (OMSA)
OMSA is committed to growing and investing in socially responsible business activities, employment equity and diversity, skills development and affirmative procurement, as well as sustainable social investment projects and the active involvement of employees in social and community affairs. Its Corporate Citizenship programme recognises the value of non-financial performance and social accountability.
The Old Mutual (South Africa) Foundation (the Foundation) is the primary source of funds for OMSA's social investment programme. At the year end, the assets of the Foundation were worth approximately R314 million, including approximately 14.5 million shares in Old Mutual plc.
The Foundation has three major flagship initiatives, the Rural Economic Development Initiative (REDI), the AIDS Orphans Programme and the Staff Volunteer Programme. These programmes have continued to offer help to local communities, to vulnerable children and to OMSA staff who wish to participate in voluntary activities. In 2006, the Foundation spent nearly R25 million on its corporate social investment programmes, out of which R9 million was allocated to these three flagship projects.
Alongside these flagship projects, R6 million was spent on general donations and R7 million provided to three newer initiatives, Product 2 Market, Out of the Box and the Small Farming Programme.
General donations were made to education and community programmes and ad hoc donations provided support for local schools and arts and culture programmes. Funding was also channelled to groups offering training and support for the improvement of teaching skills and the provision of resources. In all, R2.5 million was allocated to 43 education projects.
Nedbank Group
Nedbank Group (Nedbank) contributed over R42m to community projects during 2006. These were carried out mainly through the Nedbank Foundation, which spent R30.2 million to support over 200 projects in the areas of welfare, community development, economic development, heritage, arts and culture, and education, with the largest contribution going to the last of these. The Nedbank Foundation's contribution was double the level required by the FSC.
Nedbank aims to help meet the challenge of giving all South African children a good education. Through its focus on rural school development, the Nedbank Foundation has made significant investments to provide better learning facilities for some of the country's most needy communities. The organisation has been involved in early-childhood development initiatives, building and refurbishing crèches, and providing learning tools for pre-schools. In addition, the Foundation invests heavily to provide decent learning environments for children through its extensive school refurbishment and classroom donation programme, including through the upgrading of the buildings and construction of additional classrooms at existing schools in rural areas. It has also constructed new schools in collaboration with provincial education departments. To date the Foundation has invested over R7 million in such initiatives.
Nedbank is an important sponsor of Readathon, a reading and literacy inspiration project run by READ. Another project that has received support in this area is the Sparrow Educational Trust, which was founded in 1990 to provide accessible, specialised education to disadvantaged people with learning difficulties.
Mutual & Federal
During 2006, Mutual & Federal spent R1.7 million on Corporate Social Investment (CSI). Funds were donated to 27 different organisations, focusing on the areas of education, health and welfare, road traffic safety, crime prevention and conservation.
The main objective of the company's CSI programme is to contribute to the creation of a stable and prosperous society by making a difference to the lives of as many people as possible and supporting projects that contribute to a stable society. As a large corporate in a developing economy, Mutual & Federal also understands its responsibility towards the community it serves and aims to participate in the process of upliftment for the benefit of all South Africans.
Rest of Africa
Namibia:
The Old Mutual Namibia Foundation remains committed to being a good corporate citizen and to helping to create sustainable livelihoods in Namibia. The Foundation tries to ensure that, through mutual understanding and responsible behaviour, the role of business in building a better future is recognised and encouraged. Its agenda is tailored to meet the Company's social priorities by supporting education, health and welfare and accelerating the transition to a sustainable way of life in local communities.
BEE:
In September 2006, the Old Mutual Group announced BEE transactions in Namibia, which resulted in a broad range of black stakeholders acquiring ownership of N$308 million-worth of the Group's Namibian businesses. There were three separate, but interdependent, BEE transactions for Old Mutual Namibia, Nedbank Namibia and Mutual & Federal Namibia.
Zimbabwe:
During 2006, Old Mutual Zimbabwe continued to support projects under its structured social responsibility programme, including community projects, arts and culture programmes and business and education programmes.
Malawi:
Old Mutual Malawi continued during 2006 to support a number of projects in the education and health sectors. Total donations of MK3 million were made to various organisations and schools. Sponsorship support was provided to the National Women's Football Association to promote women's football in Malawi, to the Rotary Club of Lilongwe and to the Malawi Blood Transfusion Service for its Youth Wing to participate in the International Society for Blood Transfusion Congress in Cape Town.
Kenya:
Old Mutual Kenya staff supported numerous projects in 2006, including Kilimani Primary School for the visually impaired. Old Mutual also launched a mentorship programme, which features internship opportunities for the students and training for pupils and teachers in goal-setting and includes visits to Old Mutual's headquarters in Nairobi.