This is according to Old Mutual’s Northern Cape Provincial Management Board chairperson, Vicus Kammies. He explains this as an initiative for black empowerment, aligned with the Broad-Based Black Economic Empowerment (BBBEE) regulations. He says the shares scheme enables people to invest a once-off amount and earn dividends. Kammies adds that it is like putting money in a savings account to earn interest, but only for the long term.

“The Bula Tsela scheme gives ordinary South Africans the opportunity to become an indirect owner of Old Mutual. This scheme is the first of its kind in the country because it’s open to black South Africans, specifically empowering low-income earners”.

Kammies says there are various investment opportunities under this retail scheme, to ensure that all eligible people may be afforded an opportunity to invest in their future as per their needs.

OFM News/Mpho Mohapi