Old Mutual Bula Tsela Community Trust
The Old Mutual Bula Tsela Community Trust is a pioneering initiative aimed at paving the way for economic empowerment and sustainable development within South African communities. With a focus on Small and Medium Enterprises (SMEs) and digital skills enhancement amongst others, the Trust endeavours to uplift historically disadvantaged groups by fostering a culture of growth, innovation, and opportunity.
Through the provision of funding and comprehensive programmes like SMEgo and "It Takes a Village," Bula Tsela is committed to transforming lives and businesses, one story at a time, ensuring that every participant is equipped with the skills, confidence, and support needed to thrive in today's dynamic world.
2023 Programmes funded by the Old Mutual Bula Tsela Community Trust
SMEgo (SME support)
The SME support program funded by the Bula Tsela Community Trust in collaboration with SMEgo, aims to provide financial assistance and empowerment to small and medium-sized enterprises (SMEs) that face challenges in securing funding through traditional financial avenues. This initiative is designed to support the growth and sustainability of SMEs, particularly those owned by historically disadvantaged individuals, by offering them grants that can help them expand operations, retain, or create jobs, and enhance their contribution to the local economy.
SMEgo provides access to funders and a range of business management solutions. These solutions help SMEs get paid on time, manage cash flow and run their operations efficiently.
Through the Bula Tsela funding allocated in 2023, the SME support programme was able to help fund 21 diverse SME businesses selected from a broad pool of applicants. Highlighting a commitment to diversity, the grants have supported female and youth entrepreneurs, emerging startups, and even a non-profit organisation, driving job creation and economic stability in their communities.
"It Takes A Village" (Digitals Skills development Programme)
"It Takes A Village" is an Old Mutual digital and future skills program aimed at upskilling unemployed youth, especially from black communities. It focuses on providing training in high-demand fields such as Machine Learning, Data Science, and Cloud Computing, alongside soft skills and work readiness. The program targets matriculants who are not yet graduates, with a particular emphasis on supporting young black females in STEM areas. Its goal is to significantly improve the socio-economic status of its participants, preparing them for the digital economy.
By enrolling 60 academically promising students in 2023 in a comprehensive 12-month program, it offers mentorship and training in technical skills, financial literacy, and work readiness. The program's ambitious goal is to achieve an 80% placement rate of learners in jobs within Old Mutual and through its partners, thereby driving digital innovation and creating a pipeline of future digital leaders ready to contribute.
Want to know more about Bula Tsela Community Trust?
The Bula Tsela Community Trust, established as a Public Benefit Organisation, is an integral part of Old Mutual's commitment to social and economic empowerment in South Africa. It is dedicated to fostering inclusive growth and providing opportunities to historically marginalised communities through strategic investments in education, small and medium enterprise development, and digital skills training. By promoting financial literacy and sustainable business practices, the Trust aims to enhance the economic well-being of individuals and communities, ensuring they have access to tools and resources that enable their participation in a thriving economy.
As a Public Benefit Organisation, the Bula Tsela Community Trust retains the flexibility to focus on a diverse array of programs aligned with the trust objects to foster social and economic empowerment. Currently, the Trust is actively involved in two primary initiatives: supporting small and medium enterprise development and enhancing digital skills training. However, the scope of our programs may evolve in the future to adapt to changing community needs and opportunities, ensuring our efforts continue to make the most impactful contributions to society, provided it falls within the trust objects.
SMEgo facilitate grant funding from Bula Tsela Community trust, to SMEs facing financial access challenges, aiding in business growth and sustainability.
A digital skills development program targeting unemployed youth, offering training in AI, Data Science, Data Engineering, Entrepreneurship and more to prepare them for the tech industry.
SME Testimonials
- Azania African Group: “The Old Mutual Bula Tsela has assisted greatly with the funding, have bought new equipment to service more customers, sustained jobs and also took employees on a permanent basis. This has resulted in more revenue for the business.”
- James & Hendricks Funeral Service: “The Old Mutual Bula Tsela Trust has helped our business in so many ways. It has helped our business grow tremendously. It really put a positive impact in our business. We are so thankful.
- Kaizen Automotive Engineering: “Old Mutual Bula Tsela has given our business a second chance, selling our machine is no longer an option. With these moulds, we’ll be able to demonstrate our capability to big customers and we are confident this will result in bigger contracts which then translates to more people being employed”.
- Mohlahisi Holdings: “Old Mutual Bula Tsela grant funding assisted my company to get full accreditation as required by SETA, ETTA and QCTO, all accreditation fees paid by Old Mutual Bula Tsela.
- Nonstop Agri: “ We managed to re-build our windmill for water supply and re-built our shade-net damage after it was hit by snowfall in July 2023 in our operation area in Morgenzon.
