Old Mutual maintains Level 1 B-BBEE status for second consecutive year

Old Mutual Insure has for a second year in a row been awarded Level 1 Broad-Based Black Economic Empowerment (B-BBEE) status (the highest possible score), the company announced this week.

“I am proud of this phenomenal achievement, as it is further testament of our efforts to broaden economic inclusion and transformation, both within our business as well as the communities in which we operate,” said Garth Napier, Managing Director at Old Mutual Insure.

The Level 1 rating was given for the 2021 financial year, in line with the revised B-BBEE Codes of Good Practice. It is even more significant considering that prior to 2020, when the firm was first awarded Level 1 status, it had consistently achieved level 4 status for ten consecutive years (2009 – 2018).

A commitment to transformation

The company’s transformation efforts this year focused on developing its people and creating a more inclusive and diverse workforce in line with its strategic business objectives. Externally, it focused on effective engagements with suppliers, maintaining a diverse supply chain, education, accessibility for customers, and continuously having a positive impact on communities.

“We are committed to proactive transformation that goes beyond the scorecard. This can be seen in our approach of focussing on impact, our role in society, and our efforts to conduct business in a way that creates opportunities to address the socio-economic conditions of our communities.

“However, we will not stop here. As a responsible business, we will continue to work hard to build on our successes to ensure our economic benefits and opportunities are spread equitably across South African society,” concluded Napier.