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Wednesday, August 1, 2007
Graduation success

Over 155 unemployed matriculants from disadvantaged backgrounds in the Western Cape, KwaZulu-Natal and Gauteng recently graduated with qualifications in the financial services industry. This is part of Old Mutual’s third phase of a learnership programme launched by its own Mutual Business School.

ICG Learning Solutions, the division of Educor working with INTEC School of Insurance to upgrade national skills, was the training provider that partnered with Old Mutual for the second time to introduce the third learnership in all three regions.
“We are thrilled to announce that this third learnership is not only a success because the learners have developed skills and experience to help them get employed, but also because over 80% of the learners have been employed by Old Mutual in the Western Cape alone,” says Maxwell Kubheka, Old Mutual Learnership Manager.
“This is due to the exceptional quality of learners who have the capabilities and were committed to their own growth and development. The high employment rate can also be attributed to Old Mutual managers and mentors who were passionate about developing young, black talent as well as a well-structured and good training material from INTEC.”
Old Mutual aims to employ as many of the learners as possible. However, for those that aren’t employed an open day is funded by Old Mutual where personnel agencies coach the learners on writing up their CVs and assist them with applying for jobs.
Learners employed at Old Mutual will fulfill administrative positions in the client service, employee benefits, healthcare, group schemes, marketing and HR departments. Students spent 11 months in training – 30% of that time in the classroom and 70% rolling up their sleeves to get practical experience in the business.
“The practical component together with the qualification provides an excellent opportunity for the students to become employed as most companies require both when looking at hiring an individual,” says Nikki Wouterse, ICG Learning Solutions CEO.
The learners graduated by successfully completing Financial Services Administration NQF3 and Wealth Management NQF4. Subjects covered included communication, mathematics, financial literacy, computer literacy, managing risk, understanding the financial services industry and the impact of legislation.
The learnership programme was launched by Old Mutual Business School in 2005 as part of its transformation in line with the Financial Sector Charter.
The learnership programme aims to educate 685 students by 2008. The selection criteria are based on the Financial Sector Charter guidelines and are restricted to unemployed matriculants from disadvantaged backgrounds. Old Mutual also requested learners to have passed maths or accounting.
The fourth intake of learners launched nationally in July.
“Education is the key to South Africa’s future economic and social success, and it is toward this end that ICG Learning Solutions has aligned its strategic vision for 2010, which is to impact enough people through education to have a visible impact on the country as a whole,” points out Wouterse.
“Therefore, it has been a privilege to work together with Old Mutual to achieve this for the financial services industry and we hope to continue working with their learnership programme.”

Copyright © Insurance Times and Investments® Vol:20.7 1st August, 2007
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