Sector: Financials
The company is available at Interactive Brokers
Old Mutual Limited (JSE:OMU) is a premium African financial services group that offers a broad spectrum of financial solutions to retail and corporate customers across key markets in 14 countries.
From financial planning to managing financial portfolios, Old Mutual provides a broad range of customers with the advice and solutions they need to strengthen their financial wellbeing:
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A consortium has signed a deal to acquire Western Cape fibre network operator Octotel from Actis.
2024-03-25 12:10 +02:00
TechCentral has a look at the 10 biggest utility-scale wind farms in South Africa and how much electricity they produce.
2024-03-10 18:39 +02:00
November has been good to South Africa’s rand for the past five years. This time is different.
2023-12-01 06:20 +02:00
Old Mutual Wealth and Inves Capital have announced they will be pumping liquidity into rand stablecoin ZARP.
2023-11-01 10:26 +02:00
The Reserve Bank will keep interest rates steady at its 21 September meeting, economists say, with cuts to start next year.
2023-09-14 07:20 +02:00
A tiny island off the UK coast is seeking skilled professionals in finance, insurance, technology and gaming.
2023-08-11 07:32 +02:00
Solar has become a popular choice for South Africans wanting to overcome load shedding. But is it a fire risk?
2023-07-18 15:24 +02:00
Financial services giant Old Mutual has moved its entire IT infrastructure to the cloud.
2023-06-21 09:50 +02:00
Alviva Holdings has received a binding offer from a consortium to buy out the business, which, if approved, will see its JSE listing terminated.
2022-12-14 18:10 +02:00
Old Mutual wealth has been appointed to handle the cash reserves that back ZARP, the cryptocurrency stablecoin pegged to the value of the rand.
2022-09-13 14:23 +02:00
British International Investment, the UK government’s development finance arm, plans to invest $6-billion over the next five years.
2022-07-27 09:08 +02:00
MetroFibre Networx is continuing its aggressive fundraising drive: the company has now secured a R5-billion debt financing package from Standard Bank Group.
2022-07-26 11:20 +02:00
Futuregrowth Asset Management, a South African fixed-income money manager with R193-billion of assets, is raising a fund to invest in start-ups.
2022-06-30 15:56 +02:00
South Africa’s plan to create a separate power transmission company has been hobbled by restrictive debt arrangements with parent Eskom.
2022-06-21 14:05 +02:00
African Rainbow Capital Investments plans to offload its remaining stake in fibre network operator MetroFibre Networks.
2022-03-17 16:30 +02:00
Creative new investment solutions are required to fund ICT infrastructure that can accelerate the roll-out of fast, unlimited Internet to poorer households.
2022-01-18 09:23 +02:00
A class-action suit has been filed in the high court against Telkom and its insurance provider over claims that Telkom clients were routinely overcharged for insurance.
2021-10-05 08:18 +02:00
Dozens of companies have appealed to UK Prime Minister Boris Johnson to ease restrictions on travel from Southern Africa that are hampering trade.
2021-09-13 16:57 +02:00
JSE-listed technology group Altron has made several changes to its board, including appointing a new chairman and a new executive director who will also serve as chief financial officer.
2021-07-29 15:12 +02:00
South African insurance-technology start-up Pineapple has raised R80-million in a series-A funding round from investors including Vunani Capital and Old Mutual.
2021-07-26 08:25 +02:00
Less than a year after joining Telkom’s board, former Openserve CEO Alphonzo Samuels has resigned as a non-executive director. The company has also appointed two new directors.
2021-07-02 12:22 +02:00JSE:FSR JSE:OMU JSE:TCP JSE:TBS JSE:BAW JSE:TKG JSE:MSM JSE:DTC JSE:SBP JSE:ISA
President Cyril Ramaphosa is finally making good on a longstanding pledge to enact policy reforms, signalling the tide may be turning for the coronavirus-battered economy.
2021-06-14 07:50 +02:00
One of just two local manufacturers of electrical transformers says it faces liquidation after a procurement team at Eskom handed two contracts worth R341-million to the more expensive bidder.
2021-05-27 07:09 +02:00
Christo Davel, the co-founder of the 22seven personal financial management platform acquired by Old Mutual in 2013, is joining Direct Transact as chief commercial officer.
2021-05-04 10:47 +02:00
Rob Shuter, who resigned as CEO of MTN Group last year and who has since taken a senior role at the UK’s BT Group, was paid R73.8-million in his final eight months at the JSE-listed telecommunications firm.
2021-04-23 15:07 +02:00
A key funder of South Africa’s renewable energy drive is backing natural gas as the fuel needed to help the country bridge the transition from coal power generation to the use of wind and solar.
2021-04-06 10:43 +02:00
South African fibre telecommunications infrastructure company MetroFibre Networx has raised R2.5-billion in new debt financing, led by Investec, adding to the R1.5-billion recently raised from shareholders.
2021-03-23 15:30 +02:00
Old Mutual’s private equity unit has acquired a stake in a second data centre in sub-Saharan Africa as it expands to take advantage of a shortfall in cloud storage capacity on the continent.
2021-03-04 15:13 +02:00
South Africa’s largest cinema chain, Ster-Kinekor, has been placed into voluntary business rescue after it fell victim to the Covid-19 lockdown measures, which forced it into a loss-making position.
2021-01-29 16:47 +02:00
South African fibre broadband provider MetroFibre Networx has raised R1.5-billion in a new funding round led by infrastructure-focused private equity fund manager African Infrastructure Investment Managers.
2020-11-17 08:17 +02:00
South Africa’s weak economy and poor growth prospects have hidden the “phenomenal” potential for the shares in some locally focused companies to deliver returns for investors, according to Old Mutual Investment Group.
2020-11-04 13:00 +02:00JSE:MTN JSE:VOD JSE:SHP JSE:APN JSE:OMU JSE:ITE JSE:MSM JSE:RBX JSE:ISA JSE:SSK
Bank Zero has announced its account pricing as it edges closer to launch. The digital-only bank says “basic banking should be free and extras should be paid for – not the other way round”.
2020-10-28 06:55 +02:00JSE:SBK JSE:ABG JSE:NED JSE:CLS JSE:OMU JSE:AVI JSE:ARH JSE:ISA
Finance minister Tito Mboweni will have to find money to help the economy recover from its longest recession in three decades and bail out state companies in a budget that’s projected to record the biggest shortfall since 1914.
2020-10-26 06:13 +02:00
A R32-billion infrastructure fund owned by Old Mutual said South Africa should start with power as it embarks on a R2.3-trillion drive to lure private investment into infrastructure over the next decade.
2020-08-27 06:45 +02:00
Ralph Mupita, MTN Group’s chief financial officer, will replace Rob Shuter as the CEO of the telecommunications provider on 1 September.
2020-08-19 14:10 +02:00
Zimbabwe on Friday suspended trade on the stock exchange and mobile phone-based payments to address what President Emmerson Mnangagwa’s government called “criminality and economic sabotage”.
2020-06-28 13:40 +02:00
Business leaders are ratcheting up pressure on President Cyril Ramaphosa to re-open the economy more swiftly, warning that the devastation wreaked by a lockdown could exceed damage caused by the pandemic.
2020-05-11 10:27 +02:00
MTN Group CEO Rob Shuter was paid R58.2-million in the 2019 financial year, a 35.7% increase on his total remuneration for 2018, but even these generous rewards were not enough to keep him.
2020-03-31 09:36 +02:00
Finance minister Tito Mboweni’s budget this week is unlikely to convince Moody’s Investors Service that he has a credible plan to rein in government debt.
2020-02-24 06:58 +02:00
South African shares may have become too cheap for investors to ignore and Old Mutual Investment Group is among money managers seeing an increasing number of attractively valued shares.
2020-02-06 09:51 +02:00
After shedding 8% of their workforce last year, Zimbabwean banks may cut more jobs in 2020 as the economy shrivels and the sector increasingly shifts away from cash and toward digital services.
2020-01-07 12:50 +02:00
President Cyril Ramaphosa cut short a trip abroad to deal with an escalating crisis at the state power company, as week-long blackouts threaten to tip the economy into recession.
2019-12-11 06:10 +02:00
Amazon Web Services said on Wednesday that Old Mutual has struck a wide-ranging deal with the South African financial services group to shift a large portion of its IT workload to the cloud.
2019-10-16 14:00 +02:00
A meltdown at some of South Africa’s biggest state companies is intensifying, placing the nation’s finances at risk and frustrating President Cyril Ramaphosa’s efforts to attract new investment and resuscitate a moribund economy.
2019-06-25 16:04 +02:00
Two Gugulethu entrepreneurs applied on Tuesday to the court of the Commissioner of Patents in Pretoria for an interdict to stop Nedbank from using a card-blocking system they say was stolen from them.
2019-06-19 15:00 +02:00
Old Mutual warned on Monday that it will no longer insure computer equipment used for mining cryptocurrencies.
2019-06-10 15:00 +02:00
An exodus of CEOs during the economic downturn is becoming alarming, particularly as there are apparently so few ready replacements.
2019-06-06 06:00 +02:00
Standard Bank has announced the full list of branches that have been or will be closed, as part of the realignment of “its retail and business banking delivery model”.
2019-06-04 12:15 +02:00
South African climate protesters on Friday disrupted Sasol`s annual shareholders` gathering, forcing the petrochemicals company to cancel the meeting.
2023-11-17South Africa`s Reserve Bank will keep interest rates steady at 8.25% at its Sept. 21 meeting to curb the impact of fuel price inflation, according to nearly all economists polled by Reuters, but will start cutting borrowing costs early next year.
2023-09-14
Power crisis, rates, global uncertainty mean tough road ahead
2023-06-06
The South African rand recovered from a record low hit earlier on Thursday, following a hammering in May on the back of souring investor sentiment.
2023-06-01
The South African rand and government bond prices fell sharply on Thursday as investors digested news that President Cyril Ramaphosa may be impeached following a panel of experts` findings against him.
2022-12-02
The South African rand and government bonds plunged on Thursday afternoon, as investors digested the news that President Cyril Ramaphosa may be impeached following a panel of experts` findings against him.
2022-12-01
(Refiling to add dropped words `utility-scale` before wind farm, paragraph 5)
2022-02-18
South African miner Exxaro and Chinese state fund CNIC are among potential buyers admitted to the final round of bidding for African renewable energy firm Lekela Power - a company worth around $2 billion, a number of sources familiar with the deal told Reuters.
2022-02-18
South African Breweries (SAB), part of Anheuser-Busch InBev, said on Tuesday it was looking at making COVID-19 vaccinations mandatory for staff across its operations, the latest company in South Africa to consider such a move.
2022-01-04
* Underestimates COVID-19 death claims again, depletes provisions
2021-11-23A consortium led by South African investment company Brait Plc has revived plans to exit glass bottle maker Consol Glass, two sources said, possibly via an initial public offering (IPO) three years after a previous failed attempt.
2021-09-17
South Africa`s rand was flat on Thursday, with investors weighing conflicting signals from the U.S. Federal Reserve that pushed the dollar away from two-month highs.
2021-06-24South African insurer Old Mutual said on Wednesday it would distribute $734 million in shares in lender Nedbank among its shareholders, reducing its stake in the bank to 7.2% from 19.4%.
2021-06-23South Africa`s Old Mutual said on Wednesday it was too early to determine whether additional provisions related to COVID-19 will be required at the end of its first half-year that runs to June 30.
2021-06-23
South African insurer Old Mutual paid out 2.7 billion rand ($193 million) worth of COVID-19 related death claims in the first quarter, it said on Friday, leaving about 1.3 billion rand in reserves set aside to help it manage the pandemic.
2021-05-21South Africa`s Old Mutual restored its annual dividend on Tuesday even after higher coronavirus-related provisions and reserves led the country`s second-largest insurer to post a basic loss for the year.
2021-03-23
South African insurer Old Mutual Ltd warned on Monday of a full-year loss, saying it had been forced to increase provisions and reserves related to the COVID-19 pandemic, sending its shares down more than 3%.
2021-03-08
* Shares rise 4% but slip back (Recasts, adds details, comment)
2021-02-25
* Swings to basic loss per share, warns of full-year profit hit
2020-09-01
South Africa`s financial watchdog is consulting with lawyers and the insurance industry on a potential test case to clarify whether insurers should pay rejected claims from firms hit by the impact of the coronavirus, it told Reuters on Thursday.
2020-08-06
South African small businesses fighting rejected coronavirus-related claims said insurers` offers of relief are too little too late for many and could leave some already struggling to survive with nothing at all.
2020-07-30
* Many companies still without help (Recasts with Old Mutual, adds details)
2020-07-29
Virus-related claims from just over 500 small South African firms battling insurers who have rejected them are worth up to 4 billion rand ($232 million), the firm representing the businesses has calculated.
2020-07-01
* Insurer to cut costs, business remains resilient (Adds detail, background)
2020-05-28
South Africa`s largest insurer Sanlam announced new faces to its top three jobs on Tuesday, naming non-executive director Paul Hanratty as new CEO from July to succeed Ian Kirk who said earlier this month he would step down.
2020-03-31
South Africa`s rand slumped to a one month-low on Tuesday, as data pointed to continued weakness in the economy, while a surge in Woolworths Holdings and Old Mutual led stocks higher.
2020-01-14
* Dispute has tarnished the insurer`s reputation (Adds analyst, investor comment, updates shares)
2020-01-14
Anglo-South African financial services group Investec expects to raise about 189 million pounds ($242 million) from the sale of around 10% of its asset management business, which will be renamed Ninety One when it is spun off in March.
2019-11-29
Anglo-South African financial services group Investec will sell about 10% of its asset management business, to be renamed Ninety One, when it is spun off as part of a demerger expected in March.
2019-11-29
South Africa`s rand was little changed on Tuesday, as a rally sparked by Moody`s decision to keep the country`s credit rating at investment grade faded.
2019-11-05
The chairman of South African insurer Old Mutual, Trevor Manuel, on Tuesday apologized for comments he made last week in reference to the judge presiding over its court battle with fired chief executive Peter Moyo.
2019-09-17
South Africa`s rand firmed against the dollar on Friday, as signs of a thaw in U.S.-China trade tensions and monetary easing in the euro zone and Turkey buoyed developing world currencies.
2019-09-13
* Newly acquired Moroccan unit bolsters growth (Recasts with CEO interview)
2019-09-05
* Old Mutual to do another share buyback, CFO says more possible
2019-09-02
South African insurer Old Mutual sacked its former chief executive for a second time on Thursday and said it would continue to fight his attempts to get reinstated, despite a court ruling overturning his original dismissal.
2019-08-22
South African insurer Old Mutual`s fired boss Peter Moyo turned up for work on Wednesday after a court ruled in favour of his reinstatement, and was allowed into the company`s Johannesburg offices but not permitted to resume his duties.
2019-07-31Old Mutual`s former chief executive Peter Moyo plans to take the South African insurer to court after he was fired on Tuesday following a row over an alleged conflict of interest.
2019-06-18Standard Bank shareholders on Thursday voted down a resolution that would have required the South African lender to report climate risk in its activities, although they passed another forcing it to disclose its coal financing policies.
2019-05-30
Old Mutual`s chief executive left on Friday after what South Africa`s second-biggest insurer described as a "breakdown in trust" with Peter Moyo, who cited a disagreement over how it should engage with an investment firm he founded.
2019-05-24
South Africa`s rand weakened on Monday, shedding election- inspired gains, as an escalation in the U.S.-China trade war dented emerging market currencies, while stocks also retreated.
2019-05-13
South Africa`s rand firmed on Monday, helped by increasing demand for emerging market currencies amid a slew of disappointing economic data in developed markets and growth warnings from central banks.
2019-03-11
South Africa`s rand firmed in early trade on Monday, helped by increasing demand for emerging market currencies as returns on offer in developed market assets faltered following poor data last week.
2019-03-11
South Africa`s Nedbank Group Ltd said on Monday it will buy back its stock from shareholders who hold less than 100 Nedbank shares as a result of a spin-off by its biggest shareholder Old Mutual .
2018-10-15
South African investors including Allan Gray, Investec`s asset management arm and Old Mutual are backing litigation against crisis-hit Steinhoff in the Netherlands, they said on Friday.
2018-09-28
