Old Mutual approves new black empowerment share scheme (Moneyweb)
Qualifying Black South Africans – including lower-income earners and Old Mutual employees – will now be able to buy the insurance giant’s shares at relatively low prices through its newest black empowerment-focused ownership scheme, Bula Tsela (‘pave the way’ in Sesotho). Old Mutual shareholders approved the broad-based black economic empowerment (B-BBEE) ownership scheme on Friday, 12 August. It claims to be the first insurer in the country “to facilitate an offer of shares directly to the Black South African public, including lower income earners”. Click here to read full article
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