Old Mutual paves the way to financial freedom with 'Bula Tsela'

Saving today, only to reach your dreams in the distant future, can be difficult. Old Mutual understands this and is on a mission to provide the building blocks for more South Africans to achieve financial freedom for themselves, families and loved ones. 

To do this, the company is going back to its roots as an African business by providing an easy and reliable way for qualifying South Africans to immediately start saving for their lifetime goals. This financial solution is called Bula Tsela, which is “pave the way” in Sesotho, and it’s the company’s new transformative empowerment scheme.

Bula Tsela is a major milestone: it makes Old Mutual the first financial services provider in its sector in SA to facilitate an offer of shares directly to the black SA public, including lower-income earners. This is something the company is proud to share with qualifying members of the public.  

Bula Tsela reflects Old Mutual’s commitment to real and tangible transformation, because the company believes empowerment of this nature is good for business and society. 

The Old Mutual public offer — which is open and closes on October 24 2022 — enables qualifying black South Africans to invest a one-off amount and earn dividends. These dividends are based on annual profits and enable shareholders to benefit from the growth in the retail scheme share price.

Each ordinary share costs R10 and there are two subscription options to choose from, depending on your personal circumstances and affordability, and subject to investment limits.

Option 1: 

A minimum investment of R2,000, to be paid upfront, not over 12 months. You can invest more than R2,000 if you can afford it.

Once the public offer has closed on October 24 2022, the allocation process will begin. Any applicants who do not receive the shares they applied for will be refunded their deposited funds after the allocation process, with no interest payable. These refunds will be subject to Financial Intelligence Centre Act (Fica rules.

The great thing about this scheme is that you can also play a key role in giving those dearest to you a head start in life. For example, you can apply for shares for your minor grandchildren as their authorised representative until they turn 18. Just complete a proof of guardianship affidavit so you can act on their behalf. You can even invest for close friends or loyal workers you want to support on their path towards achieving a better future. 

All qualifying black individuals, companies, close corporations, trusts and stokvels can apply. This is also an opportunity to give someone you care about — a domestic worker or gardener — a share in this scheme, which provides them with the opportunity to share in Old Mutual’s growth well into the future.

Through the retail scheme, investors will own a part of a company that holds Old Mutual shares — and as an investor you get access to annual dividends and the capital growth in the retail scheme shares.  

This deal underpins the company’s belief that real transformation is necessary to sustain business growth and serve the best interests of all South Africans.

Even if you do not have hundreds of thousands of rand to save for your loved ones, the Bula Tsela share scheme can help you start this journey for a relatively small investment. 

Option 2: 

You only need to pay at least R100 upfront and the same amount every month for a year for a total R1,000 in investment. Old Mutual is setting aside 10% of the retail part of the scheme for applicants who cannot afford to pay R2,000 upfront.

It’s easy to sign up for yourself or someone you hold dear: 

• For online web application, visit www.singularfs.co.za
• Email your completed forms to bulatsela@singular.co.za
• For telephonic applications call 087-015-0395

Alternatively, you can visit any of these Old Mutual branches:

• Gauteng
  • Singular Systems at 25 Scott Street, Waverley, Johannesburg, 2090
• Western Cape 
  • Singular Systems at Unit F01E, Brookside Office Park, 11 Imam Haron Road, Claremont, Cape Town, 7708
  • Old Mutual at Client Service Centre, Mutualpark, Jan Smuts Drive, Pinelands, Cape Town, 7450
• Free State
  • Old Mutual at Shop B19a, Middestad Mall Corner West Burger & Charles Street, Bloemfontein, 9300
• KwaZulu-Natal
  • Old Mutual at 385 Smith Street, Durban, 4001
• Limpopo
  • Old Mutual at Shop 2, Quadlux Building 68c, Landdros Mare Street, Polokwane, 700
• Eastern Cape
  • Old Mutual at shop 23, Umthatha City Shopping Centre, Sutherland Street, Umthatha, 5100

This article was paid for by Old Mutual.