Old Mutual has been recognised with the Best Financial Education Program award at the recent Abojani Economic Empowerment Conference, held on November 23, 2024, at the Radisson Blu Upper Hill. This accolade recognizes Old Mutual's comprehensive and multifaceted approach to enhancing financial literacy across various demographics in Africa.
The annual Abojani Economic Empowerment Conference aims to equip African households and businesses with essential knowledge, tools, and strategies to build resilience in navigating the complexities of the African market. This year’s theme, "Building Staying Power as African Households and Businesses," emphasized the importance of financial security and sustainable growth amidst evolving economic landscapes, particularly for small and medium-sized enterprise (SMEs).
During the conference, Julius Ouma, CEO Faulu Microfinance Bank, underscored the critical need for SME owners to carefully evaluate their partnerships. He urged business leaders to select financial institutions that genuinely understand their unique needs. "Choose customer-centric partners who offer tailored solutions that enable you to unlock the true potential of your business," Julius stated. Both Old Mutual and Faulu Microfinance Bank are committed to empowering SMEs with a range of financial solutions designed for growth and protection.
In his presentation, Steven Maleche, Head of Research at Old Mutual Investment Group, provided insights into both global and local investment landscapes. He discussed how technological advancements, economic shifts, and geopolitical dynamics are transforming investment strategies. His analysis highlighted the necessity for businesses to adapt to these changes to thrive in today's competitive environment.
The conference attracted a diverse audience, including industry leaders, and professionals who shared their knowledge and expertise on sustainable business practices. The event served as a platform for networking and sharing actionable insights that can help attendees navigate their financial futures.
Old Mutual's recognition at the Abojani Economic Empowerment Conference not only reflects its dedication to financial education but also reinforces its role as a leader in fostering economic empowerment across Africa. We have implemented a series of strategic initiatives to enhance financial education, including:
- Educating the next generation: Collaborating with the Kenya Institute of Curriculum Development (KICD), financial regulators, and Safaricom’s m-pesa go, Old Mutual has effectively incorporated financial literacy into the national school curriculum, targeting foundational learning.
- University engagement: through the Old Mutual Foundation, we have reached over 22,000 university students across 25 universities in 13 counties, delivering practical financial education workshops designed to promote engagement and applicability among young adults preparing for financial independence and the working life.
- Community and customer engagement: We have implemented a variety of financial education programs, such as the "On the Money", SME roundtables, and pension workshops, to enhance financial literacy within communities and among customers, addressing critical financial topics relevant to local contexts.
- Technological integration: Old Mutual has leveraged digital platforms, including its Thrive platform, website, and social media, achieving a reach of over 1m in 2024.
Looking forward, Old Mutual plans to expand its financial education capabilities by integrating digital solutions through its Thrive platform, further enhancing accessibility and engagement in financial literacy programs.