Amicus June 2017

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18 TRANSFORMATION Old Mutual recently launched the Infinitum Initiative, a first-ofits kind incubation programme to boost transformation in the financial services sector. Top from left: Connett Nthupi, Vick Lallbahadur, Mpumi Mbilase, Sibonelo Ngema, Busi Lekuba, Zah Mthethwa, Dez Tswaile, Reece Morrison. T he Infinitum Initiative is a partnership with the Black Distributors' Trust, Masthead Financial Planning and Old Mutual Foundation, created to grow the number of black independent financial advisers (IFAs) and create new employment opportunities. Currently, 10 young, black financial advisors were selected and are being trained to launch their own future-fit independent brokerages within two years. The initiative includes a two year training programme incorporating product, compliance and other skills development, to assist the group in becoming successful broker principals with the necessary skills to start their own practices. ‘We believe that customers benefit immensely from financial planning that is provided by a robust, diverse intermediary force,’ said Karabo Morule, Managing Director of Personal Finance, ‘and independent advisers play a key role to make our industry continue to thrive. ‘With the Infinitum Initiative, we want to take these 10 entrepreneurial-minded and independent financial advisers and create 10 new independent brokerage businesses by the end of the programme. ‘They in turn can then create 10 to 20 employment opportunities – and the virtuous circle of growing entrepreneurship and delivering great customer service continues.’ The Black Distributors Trust is providing the funding for the two year programme, which includes theory learning, practical applications and one-on-one mentorship. The programme will help advisers integrate the principles of financial planning and equip them with skills needed to start a small business, by empowering them to respond effectively to regulatory challenges and a changing environment, while running a sustainable business. The 10 selected independent financial advisers are Reece Morrison, Busi Lekuba, Dez Tswaile, Vick Lallbahadur, Zah Mthethwa, Sibonelo Ngema, Connett Nthupi, Mpumi Mbilase, Siba Njoba and Wilson Neluheni. Amicus June 2017.indd 18 2017/05/30 12:14 PM
19 Old Mutual is committed to economic transformation and has a long history of supporting entrepreneurs. OPPORTUNITY ROADSHOW O ld Mutual is a gold sponsor of the third Small, Medium and Micro enterprises (SMME) Opportunity Roadshow. For the first time, various business units in Old Mutual are collaborating to present a united front and tell one Old Mutual story. The SMME sector is key to unlocking economic growth and development in South Africa and the roadshow is a platform for exchanging insights and ideas, debating solutions and exploring new and creative ways of working with the private and public sector to bring about positive change. Most importantly, it is an opportunity for entrepreneurs to access great advice from experienced business people and stakeholders. It connects experienced entrepreneurs and businesses with SMMEs to provide advice, support and opportunities. ‘Old Mutual, as a responsible business, recognises that the development of SMMEs contributes positively to the growth and sustainability of South Africa – and also our business,’ says Simpiwe Somdyala, General Manager: Corporate Affairs. ‘By increasing the number of successful entrepreneurs who start, grow and sustain their businesses and create jobs, we help to drive the kind of economic growth that will benefit a broad base of South Africans. And what’s good for South Africa is good for Old Mutual.’ HOW WE ARE SUPPORTING OUR SMMES •• R2 billion towards SMME financing in 2016. •• R40 million was committed to the CEO Initiative’s SA SME Fund. •• R142 million was invested in financial education and skills and community development. •• R400 million in loans disbursed since 2007, through the Masisizane Fund, which focuses on financing, developing and supporting SMMEs. •• R111 million in loans was approved in 2016 and R147 million disbursed against a target of R129 million. •• 862 jobs were created in 2016 against a target of 625. The roadshow kicked off in Johannesburg in April, visited Port Elizabeth in May, and will move on to Durban on 19 July and Cape Town on 6 September. Amicus June 2017.indd 19 2017/05/30 12:14 PM
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