The Old Mutual Legends Programme is a national ‘virtual incubator’ that drives accelerated growth in small black-owned businesses. Designed and implemented by Fetola and supported by the Old Mutual Foundation, the programme, which started in 2007, has grown in size from assisting 10 organizations in 2009 to 34 organizations in 2010 and 67 in 2011!
Currently, there are over 1600 individuals involved in the programme, of whom 93% are Black and 73% are female. Places in the programme are limited and all applicants are assessed according to their suitability, with preference given to Black-owned and BEE-compliant organizations and those with a track record of at least 2 – 3 years in operation.
Through Legends, beneficiaries from all over South Africa receive needs-based assistance which can include practical business skills training, business systems development, market access linkages, mentor support and access to shared resources. Activities are seamlessly integrated and rolled out according to a structured and holistic programme of interventions.
Successes include a 300% increase in sales across programme beneficiary groups since Legends began in 2007, over R1 500 000 in media value for stakeholders in 2010 alone as well as significant increases in jobs created and retained – all of which are in areas of high poverty and unemployment.
The 2011 programme has seen an expansion of the project countrywide, as well as new strategic partnerships with other stakeholders such as Shared Interest UK, local LED officers and other public-sector business development agencies.
Legends has also developed linkages between Old Mutual and the Dept of Arts & Culture, as well as creating opportunities for the roll out of the Old Mutual On The Money financial training.
To be considered for the 2012 Legends intake, send us your contact information (phone & email) and a brief overview of your business or project here.
