By: Old Mutual Insure
Insurer leaps three places in one year
Breaking with the incremental improvements of the past, Old Mutual Insure achieved Level 1 Broad-Based Black Economic Empowerment (B-BBEE) status. Old Mutual Insure achieved this monumental leap in just one year from level 4, by improving on all pillars that underpin the B-BBEE scorecard, but great shifts were made particularly in skills development, procurement, socio-economic development and consumer education, as well as creating access to financial services.
The B-BBEE Codes of Good Practice enable economic empowerment by driving transformation across a broad spectrum of previously disadvantaged South Africans with the aim of broadening economic inclusion and reducing inequality.
“Achieving a Level 1 B-BBEE status is unprecedented and a historic milestone on our transformation journey, especially at a time where Covid-19 is highlighting many of South Africa’s inequality challenges,” said Thabile Nyaba, Old Mutual Insure’s Chief Risk Officer and Chairperson of the insurer’s Transformation Committee.
“Despite the challenges we’re seeing around COVID-19, Old Mutual Insure remains committed to supporting a more equitable society, securing a future for all,” concluded Thabile.