UAP Old Mutual Advocates Responsible Approach to Doing Business at 2019 Africa Shared Value Summit

UAP Old Mutual has underscored its commitment to Responsible Business at the 2019 Africa Shared Value Summit by calling for the widespread strategic implementation of the Shared Value business model, or profit with a purpose, across the African continent.

By UAP Old Mutual Foundation

UAP Old Mutual, which aspires to be the leading integrated financial service provider in the region is already driving positive change through healthcare infrastructure, financial wellbeing and climate action programmes for its clients.

Over the last three years, the business has invested KES 40 million to upgrade three strategic hospitals in the region – Kenyatta National Hospital, Al Saabah Children’s Hospital and Uasin Gishu County Hospital – improving access for millions of people in the process. Additionally, it has served over 2.5 million customers since 1992, offering them financial solutions that are designed to help them achieve financial freedom, addressing the issues of poverty and inequality head on. On the climate action front, the business has planted 250,000 trees to offset the impact of its operations, empowering a community through job creation along the way. 

As a signatory to the United Nations-backed Global Compact, UAP Old Mutual’s Responsible Business framework specifically advocates for responsible investing, responsible environmental management and responsible behaviour towards customers, employees and communities. The 2019 Africa Shared Value Summit, which takes place from 23-24 May in Nairobi, Kenya, will focus on the importance of Shared Value ecosystems in driving Africa’s business growth.

“UAP Old Mutual’s commitment to creating Shared Value is embodied in our Responsible Business approach which seeks to align our operational business goals with the broader challenge of finding solutions to society’s challenges,” said Peter Mwangi, CEO at UAP Old Mutual. “It is simply not sustainable for businesses to focus solely on commercial success and profitability. Sustainable business requires the seamless integration of social and environmental objectives into one’s business strategies to ensure long-term sustainability and value creation.”

Shared Value invites businesses to rethink their relationship with society by integrating the concepts of inclusive growth, equality, impactful investing, social justice, care for the environment and sustainable capitalism into the profit-driven model in order to ensure its long-term survival and sustainability. The Shared Value philosophy was first introduced in a 2011 Harvard Business Review article, co-authored by Mark Kramer [speaker at the 2019 African Shared Value Summit], which highlighted the interdependence between social progress and business growth. The concept has since grown into a worldwide movement that seeks to propel the socioeconomic role of business to the centre of its strategic thinking.

“Business can no longer be a passive observer to the multitude of socio-economic and environmental challenges that beset the world,” said Mwangi. “Its long-term sustainability and growth depend upon its ability to embrace the concept of profit with a purpose by becoming an active participant in bringing about positive social change.”

Old Mutual Group Commitment

During its 174-year history the Old Mutual Group has built a strong reputation for operating as a diligent Responsible Business with bold and mutually beneficial, value-adding strategies. The company’s decision to move its primary listing from London to the Johannesburg Stock Exchange (JSE) in 2018 not only signalled a return to its African roots but was also a major step towards facilitating more inclusive economic growth and sustainability in Africa. 

As a responsible custodian client savings and an advocate for more socially inclusive, low-carbon and resource-efficient economic growth, Old Mutual has the ability to materially impact the African economy through its day-to-day business activities. As part of this drive for more inclusive, sustainable economic growth, the Old Mutual  Group has already directed more than $8 billion (R120 Billion)  towards driving shared value on the African continent. This includes:

“Our role as a responsible custodian of our clients’ savings also enables us to deploy funds into strategic investments that not only deliver returns for our investors but also help fuel the economy by delivering critical infrastructure such as schools, housing and more,” said Mwangi. “Of course that comes with a great responsibility to ensure that our investment decisions also incorporate environmental, social and governance (ESG) considerations. Not only is this the right thing to do, but it also makes good investment sense, which is precisely what Shared Value is all about.”

 

Fund Prices
Old Mutual Money Market Fund Daily Yield : 4.83%  Annual Rate: 4.94%
Old Mutual Equity Fund Buying Price: 343.19  Selling Price: 343.19
Old Mutual Balanced Fund/Toboa Buying Price: 146.15  Selling Price: 146.15
Old Mutual Bond Fund Buying Price: 102.16  Selling Price: 102.16
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Fund Prices

Fund Prices at 28th November 2020

Fund Name Currency Daily Yield Effective Annual Rate
Old Mutual Money Market Fund Kenya Shillings 4.83% 4.94%
Fund Name Currency Buying Price Selling Price
Old Mutual Equity Fund Kenya Shilling 343.19 343.19
Old Mutual Balanced Fund/Toboa Kenya Shillings 146.15 146.15
Old Mutual Bond Fund Kenya Shillings 102.16 102.16
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