Duma explained that Old Mutual entering the telecoms space is part of their \u201cwell-crafted\u201d financial services strategy. <\/p>\n\n\n\n
\u201cIt’s exciting times for Old Mutual.\u201d<\/p>\n\n\n\n
\u201cFor us, it’s about strengthening our relationship with our customers by building an ecosystem of value-added services.\u201d<\/p>\n\n\n\n
He said that for Old Mutual, this is only the beginning, and Old Mutual Connect is only one part of what they are building.<\/p>\n\n\n\n
\u201cWe are not resting there. We are working on a new proposal, new features, and growth in terms of distribution networks and accessibility. So the customers can expect more as the future unfolds.\u201d<\/p>\n\n\n\n
\u201cReally, it’s about giving our customers an opportunity to have access to affordable data and reliable connectivity through our partners.\u201d<\/p>\n\n\n\n
\u201cWe want to give value to our customers in every way.\u201d<\/p>\n\n\n\n
\u201cWe are a brand that lives in the communities, interacts with our customers every day, and we identified a need for our customers to actually have access to affordable data solutions.\u201d<\/p>\n\n\n\n
\u201cIt’s not just a stand-alone solution because it supports all our other propositions.\u201d<\/p>\n\n\n\n
These \u201cpropositions\u201d include Old Mutual\u2019s new digital bank, as well as their insurance and loan offerings.<\/p>\n\n\n\n
\u201cBut we cannot do that and ask customers to connect with us on digital if they can’t afford or they can’t access the data.\u201d<\/p>\n\n\n\n
He explained that, as a result, providing their customers with affordable data enables them to interact with them through their digital channels.<\/p>\n\n\n\n
\u201cIt also helps us to connect directly with our customers,\u201d he said.<\/p>\n\n\n\n
\u201cIf we’ve got our customers on our network, we’ve got direct communication with them, we understand what they are doing and they understand what we are up to, and we can actually communicate better and build better relationships with them.\u201d<\/p>\n\n\n\n Duma explained that Old Mutual\u2019s customers trust the company to deliver good, quality products and services.<\/p>\n\n\n\n \u201cOur customers trust us. We are a strong brand that has been in existence for over 179 years.\u201d<\/p>\n\n\n\n \u201cThis is no difference in the mobile network space.\u201d<\/p>\n\n\n\n He said that although everyone can use this service, catering to lower-income people in South Africa remains a priority for them.<\/p>\n\n\n\n \u201cThe proposition is open to everyone. Anybody can walk into our branches and walk out with a SIM card. As simple as that.\u201d<\/p>\n\n\n\n However, he explained that the mass market remains Old Mutual\u2019s \u201canchor segment\u201d, where they operate a lot in the insurance, funeral, and now, the data space.<\/p>\n\n\n\n \u201cOur proposition is actually built around understanding the needs of our mass market customers.\u201d<\/p>\n\n\n\n He explained that there are two of key pillars which are important to Old Mutual Connect.<\/p>\n\n\n\n \u201cFirstly, the SIM card itself is very cheap. It’s R5.\u201d There are many Old Mutual locations located in the communities themselves, which makes it very easy for anyone to buy one. <\/p>\n\n\n\n Secondly, he said that there are a number of deals which give value to customers once they have signed up for the service. <\/p>\n\n\n\n For example, customers get a sign-up bundle of 1GB free, simply for choosing Old Mutual\u2019s SIM card.<\/p>\n\n\n\n \u201cAnd we don’t stop there. If you buy any data from us, we’ve got a proposal called double up bundle.\u201d<\/p>\n\n\n\n As part of this bundle, Old Mutual gives the customer the same amount of data they buy for free. \u201cThat’s doubling up whatever you spend with us.\u201d<\/p>\n\n\n\n Duma explained that there are also other bundles available to customers who buy over R50 ofdata or interact with the company.<\/p>\n\n\n\n A major draw of their offering is also the limitless nature of when customers can use the data they buy. <\/p>\n\n\n\n \u201cThe data that you buy from us doesn’t expire. So, there’s no limitation; you can buy as much as you want, and it doesn’t expire,\u201d he said.\u00a0<\/p>\n\n\n\n \u201cThat’s how we want to give value to our customers.\u201d <\/p>\n\n\n\n Many South Africans have become disillusioned with their mobile operators which seem overpriced and unreliable. <\/p>\n\n\n\n High unemployment rates, the country\u2019s cost of living crisis and low wages have prompted many people to carefully consider how much they spend<\/a> on internet connectivity.<\/p>\n\n\n\n For some, mobile data prices are too high to even consider in the first place. <\/p>\n\n\n\n \u201cThere’s two core motivating factors for us,\u201d Duma said. \u201cOne is to enable our customers to participate meaningfully in the economy.\u201d<\/p>\n\n\n\n In order to do that, \u201cthey need data, and they need connectivity\u201d.<\/p>\n\n\n\n \u201cSo we are giving them that.\u201d<\/p>\n\n\n\n \u201cThe second one, of course, is interacting with us.\u201d<\/p>\n\n\n\n However, he said that their service is not only limited to that, and customers will be able to use their data to communicate with whoever they want. \u201cThat’s your data, you can use it for that.\u201d<\/p>\n\n\n\n![\"\"](\"https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2023\/09\/old-mutual-1-1024x683.jpg\")
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