KEEP UP TO DATE WITH ALL THE IMPORTANT COVID-19 INFORMATIONCOVID-19 RESOURCE PORTAL

FANews
FANews
RELATED CATEGORIES
Category SMMEs
SUB CATEGORIES General | 

Old Mutual Insure announces SME Competition winners

16 September 2021 Old Mutual Insure

Old Mutual Insure has today announced the 10 winners of their Small and Medium-sized Enterprise (SME) Competition. The winners have each won R100 000 in cash to use as they please to protect and progress their businesses.

Soul Abraham, Old Mutual Insure’s chief Executive for Retail, explained the rationale for the Competition saying; “Old Mutual Insure recognises the vital role a thriving SME sector plays in growing our economy and we’re proud progress and protect this sector through the awarding of R100 000 in cash to 10 lucky SMEs. We know just how rough the past few months have been for SMEs, that is why we focused on giving this R1 million cash prize to small businesses that desperately need the financial injection. I am incredibly excited for our winners and proud of our company for playing such an important role in the rebuilding of our country and its economy.”

And the 10 winners are:

1. Retail Shopfit Pty Ltd
2. Underwraps Caterers Cc
3. LCD Technologies
4. Osmers AJ H/A Augusta Farm
5. Ilianga Mining Services
6. Qaram CC 5 000 000,00
7. Andiccio24 Lynnwood
8. Fochville CV's And Propshafts
9. Danmar Precision Engineering Cc
10. Zebros King Williamstown.

Abraham said, “Our SME Competition offered ten businesses a chance to each win R100 000 each towards progressing their business. We know `just how rough the past few months have been for SMEs, that is why we focused on giving this R1 million cash prize to businesses that desperately need this financial injection.”

Each business that entered also stood a chance to win a free webstore, invaluable in the digital age, as well as a Yoco point-of-sale device to quickly and effortlessly transact. The company will be announcing the 50 winners of the webstore and Yoco devices shortly.

Ongoing support for SMEs – The Business Growth Box

While the SME competition is over, Old Mutual Insure’s support for SMEs is steadfast and the continues. The company is committed to protecting and progressing South Africa’s SME with its tailored business insurance and the Business Growth Box, an online toolbox with business tools to help SMEs thrive in the digital and hyper-competitive market - accessible at https://businessgrowthbox.co.za/.

Abraham concluded, “Old Mutual Insure is one of SA’s oldest businesses, and we have grown from being small business with a few clients to one of the largest non-life insurers on the African continent employing thousands of people. We know that each SME also has this potential and that is why we’re proud to play a role in ensuring the sustainability of SA’s SME sector. We hope by awarding 10 SMEs an amount of R100 000 each, this will go a long way in ensuring the sustainability during these tough times and we urge other large businesses to play a role in protecting and progressing the engine of SA;s economy, our small businesses .”

Quick Polls

QUESTION

South Africa’s Financial Sector Conduct Authority (FSCA) has the power to raise revenues by issuing administrative penalties and fines against non-compliant financial services providers, with this money flowing back to the Treasury… Does this, in your view, create a regulatory / government conflict of interest?

ANSWER

Absolutely, as conflicted as it gets
Maybe, I’m on the fence on this
No, the FSCA can do no wrong
The guilty must pay
fanews magazine
FAnews August 2021 Get the latest issue of FAnews

This month's headlines

Why it’s an amazing time to be an adviser and broker...
Power of the pack… In the company of women
POPIA pandemic - Tick tock goes the POPIA clock!
The unimaginable imaginable risk
How global cities could benefit from green dividends
Are life insurance products too complex?
Subscribe now