EU and US could reach trade deal this weekend - Reuters
JOHANNESBURG - Old Mutual (LON:OMU) Limited, a leading African financial services group, has maintained its Level 1 status on the Broad-Based Black Economic Empowerment (B-BBEE) scale for the sixth consecutive year, according to their latest compliance report. The B-BBEE certificate, a crucial indicator of the company’s commitment to empowerment and transformation in South Africa, was made available on the company’s website.
The B-BBEE Act in South Africa aims to distribute wealth across as broad a spectrum of the South African population as possible. Achieving a Level 1 status, the highest possible rating on the B-BBEE scale, reflects a company’s strong performance in areas such as ownership, management, skills development, and socio-economic development.
The report detailing Old Mutual’s compliance was released in terms of section 13G(2) of the B-BBEE Amendment Act, No 46 of 2013. This annual disclosure is an important tool for investors and other stakeholders to assess the company’s social and economic contributions, as well as its alignment with national transformation objectives.
Old Mutual operates primarily in Africa, with key market segments across 12 countries, and has a niche presence in Asia. With over 180 years of heritage in sub-Saharan Africa, the company plays a significant role in the financial well-being of the communities it serves.
The company’s continued achievement of a Level 1 B-BBEE status is indicative of its ongoing efforts to contribute positively to the economic landscape of South Africa and to ensure inclusive growth and empowerment.
The information regarding Old Mutual’s B-BBEE status is based on a press release statement, which serves as an official communication for investors and the public. The company’s sponsors include Tamela Holdings (Proprietary) Limited and Nedbank Corporate and Investment Banking in South Africa, PSG Wealth Management (Namibia) (Proprietary) Limited in Namibia, Imara Capital Zimbabwe plc in Zimbabwe, and Stockbrokers Malawi Limited in Malawi.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.