Review

These are exciting times, both for South Africa, and for Old Mutual (SA). As a nation we have left behind debates about “why” we should pursue black economic empowerment, and we are now discussing in an increasingly mature fashion “how” this important framework should be implemented in our businesses, and in our economy.

Just this changed tone means that empowerment is becoming free to make the contribution it should to national economic growth. The less we debate “why”, the more we discuss “how”, the more focus and impetus we can give to achieving results.

Old Mutual (SA) has been making things “happen” in respect of black economic empowerment for quite some time. The company has a rich and strong pedigree of performance. It would be tempting to single out the empowerment deal in which we, as WIPHOLD, took up an ownership stake in Old Mutual (SA), but that would be unfairly singling out just one aspect. It has performed well in skills development, employment equity and generally in human resource development, and through procurement from black business, the company is retaining its rightful place as a key driver of national economic growth.

We have committed to playing a significant role in these exciting times by actively contributing to the further transformation of the company, by delivering distinct value to its operations, and generally by being a positive and involved shareholder.

Gloria Serobe
Member of the Audit, Risk and Compliance Committee
Founding member: WIPHOLD, CEO: Wipcapital