OLD MUTUAL FOUNDATION CASE STUDIES Contributing to skills development is a key aspect of reducing youth unemployment and enabling marginalised people to move into the mainstream economy. Through funding received from Old Mutual Foundation, the Grootbos Green Futures Horticulture and Life Skills College near Gansbaai in the Overberg was able to provide educational training to 12 unemployed young adults, giving them the skills and confidence necessary to market themselves and become employable, while at the same time contributing to the conservation and promotion of the Western Cape’s unique biodiversity.
The client managed to buy the business from her father in 2011 for R250k. She managed to turn the business The MASISIZANE FUND focuses on enterprise development and job creation to help alleviate poverty and improve food security in South Africa. This is achieved through encouraging entrepreneurship and capacity development and financing of micro, small and medium enterprises (SMMEs). Preference is given to SMMEs with 51% plus ownership by women, youth or people with disabilities. Masisizane Fund disbursed R147m worth of funds in 2016 through soft loans in the three high-impact sectors and facilitated the creation of 862 jobs against a target of 625 jobs. In the Western Cape, Masisizane disbursed funds of R6 862 268 to one client which created 50 new jobs.
MASISIZANE CASE STUDIES IN THE WESTERN CAPE
into a profitable operation by diversifying the product range and increasing the revenue streams from R2.3m (2011) to R8.4m in 2015. Case Study Fast Facts Masisizane Fund Loan
R3.67m
Number of Jobs
50 Jobs Facilitated
Geographic Location
Peri-Urban
Sector
Supply Chain
WANT TO HELP BUILD THE PLATFORM FOR FINANCIAL INCLUSION? Financial education is the gateway to financial inclusion. The Old Mutual Financial Wellbeing programme promotes financial literacy and awareness across market segments in line with the Financial Sector Charter. We offer highly effective financial education and support programmes to help South Africans take control of their finances. Between 2007 and end of 2016 more than 589 808 people were reached through face-to-face workshops held for communities as well as employees in the public and private sector. In 2016 more than 88 000 individuals participated in our On the Money workshops nationally, with 24 674 participating in our Fin360 programmes.
Lasco Crete (Pty) Ltd Lasco Crete (Pty) Ltd is a 100% female-owned manufacturing company that produces concrete products focusing on walling solutions for various markets. The business operations are based in Philippi Township within the Cape Flats area of Cape Town.
In the Western Cape 13 638 individuals were trained in our Old Mutual On the Money financial education programme and 6 090 were trained in our Fin360 financial education programme. For more information, contact Savarion Arendse at WesternCapePMB@oldmutual.com