The Old Mutual Kenya Foundation recently welcomed the Old Mutual Blantyre Foundation for an impactful two-day knowledge-sharing initiative designed to enhance the capabilities of both Foundations. This event marked a significant step in building partnerships that prioritize financial inclusion and humanitarian efforts across Africa.
Engagement with Key Organizations
During their visit, trustees from both Foundations engaged in insightful discussions with leadership from Mastercard Foundation, Stanbic Foundation, and Doctors Without Borders (MSF). These interactions provided invaluable perspectives on effective local and regional funding strategies aligned with Old Mutual Limited CSI agenda. A key theme emerged: the critical importance of financial inclusion for youth. Both foundations recognized this as a vital focus area for corporate foundations.
The Stanbic Foundation showcased its successes in supporting Micro, Small, and Medium Enterprises (MSMEs) through partnerships with the United States African Development Foundation (USADF), County Governments and GIZ. These collaborations have enabled grant financing and local support for MSMEs, helping them address internal system gaps to meet investment requirements from commercial investors fully.
Case studies
A standout success story is Soko Kijiji Groceries, a grant recipient that empowers women-run businesses to access markets and enhance resilience. By connecting Mama Mbogas operating in open-air markets with customers via online platforms, Soko Kijiji has enabled these women to increase their revenue by 30%, as demonstrated during the pilot phase, expand market access across Nairobi City, and create additional employment opportunities. Soko Kijiji is available in Kenya via Glovo App.
The discussions also highlighted the urgent need to enhance climate and health resilience within communities. Doctors Without Borders (MSF) showcased their work through the MSF Academy for Healthcare. This initiative focuses on strengthening the skills and competencies of healthcare workers, ensuring they are well-equipped to respond effectively to medical challenges in their regions. The MSF Academy for Healthcare is dedicated to professionalizing the training of healthcare workers, particularly in areas severely impacted by conflict and humanitarian crises. By developing tailored, competency-based curricula, the Academy provides essential training that combines theoretical knowledge with practical, on-the-job learning. This approach not only improves the quality of care in the short term but also fosters long-term improvements in healthcare delivery.
Strategic Insights and Growth Opportunities
This visit was not just about knowledge sharing; it also provided both boards an opportunity to evaluate their current strategies and explore growth avenues. Over the past three years, the Old Mutual Kenya Foundation has made remarkable strides, investing Kshs 40 million in Corporate Social Investment (CSI) initiatives that have positively impacted approximately 22,000 young individuals, forming 25 partnerships with universities and engaging 120 teachers across 36 schools. Additionally, we have planted 45,000 tree seedlings in the last 3 years.
The Old Mutual Blantyre Foundation is driven by programs aligned with Malawi's Development Agenda. Key initiatives include the Secondary School Bursary Program and Education Infrastructure Development Support, both aimed at creating job opportunities and contributing to Malawi's Vision 2063 mission of building an inclusive and self-reliant nation through youth empowerment.
Expert Guidance on Governance and Engagement
Throughout the knowledge-sharing sessions, trustees from the Old Mutual Kenya Foundation and management team engaged in meaningful reflections on their missions alongside insights from development expert Mwihaki Muraguri. The significance of staff involvement in CSI initiatives emerged as a vital strategy for driving impactful outcomes. Trustees also had the opportunity to connect with various business unit representatives as primary funders for the foundation.
Looking to the Future
As the Old Mutual Kenya and Blantyre Foundations align their strategies with broader regional objectives and the OML CSI strategy, they are committed to leveraging their collective strengths to effectively engage youth. By positioning Old Mutual as a trusted partner for young people navigating life's challenges, the foundations will secure not only the future of both nations but also the prosperity of Africa and Old Mutual’s future customers. This collaborative effort is poised to create lasting impact, empowering the next generation to thrive.