Old Mutual
Johannesburg, Gauteng – Old Mutual has rolled out its new Business Asset Programme, offering up to R20,000 per business in support for essential tools, technology, or equipment to help small and medium-sized enterprises (SMEs) grow. Announced ahead of Global Entrepreneurship Week from 17 to 23 November 2025, the initiative targets Black-owned businesses nationwide, with applications closing on 28 November 2025. This forms part of Old Mutual’s broader SMEgo efforts, which this year included a R4.2-million Pitchathon and a R600,000 accelerator programme. The fund aims to cut red tape, fast-track growth, and strengthen local entrepreneurship through practical, accessible funding, with payments made directly to service providers to ensure transparency and efficiency.
With a total fund value of R1.2 million, the programme is designed to provide tangible assistance to qualifying SMEs, helping them overcome barriers to expansion in a challenging economic environment. Old Mutual emphasises that this support is tailored to reduce administrative hurdles and promote sustainable business development.
Programme Objectives and Focus Areas
The Business Asset Programme seeks to empower Black-owned SMEs by providing financial aid for key assets that can boost productivity and competitiveness. Eligible businesses can use the funds for items like computers, software, machinery, or other equipment essential to their operations. By paying suppliers directly, Old Mutual ensures the money is used as intended, minimising risks and maximising impact.
This initiative aligns with Old Mutual’s commitment to fostering inclusive economic growth, particularly for historically disadvantaged entrepreneurs. It builds on the success of previous SMEgo projects, such as the Pitchathon, which awarded R4.2 million to innovative startups, and the accelerator that distributed R600,000 to help businesses scale up. These efforts have already supported hundreds of SMEs, creating jobs and stimulating local economies.
Old Mutual representatives have highlighted the programme’s role in addressing South Africa’s high unemployment and inequality. By targeting Black-owned businesses, it promotes transformation and opportunities in sectors like retail, manufacturing, and services.
Eligibility Criteria for Applicants
To qualify for the Business Asset Programme, businesses must meet specific requirements:
- Be majority-owned (at least 51%) and controlled by Black South Africans or naturalised South Africans.
- Be South African citizens and residents.
- Be new customers subscribing to Old Mutual’s Premium Plus (R299) or Business Bundle Plan.
- Provide necessary documents, including a CIPC Registration Certificate, proof of banking details, and a detailed motivation for the requested assets.
The programme is open to SMEs across all provinces, encouraging applications from diverse industries. This focus on Black ownership aims to redress past imbalances and support emerging entrepreneurs in building sustainable ventures.
Application Process and Deadline
Interested businesses can apply online through Old Mutual’s SMEgo platform. The process involves submitting an application form along with required documents, such as proof of ownership, business registration, and a clear outline of how the assets will be used. Applications are straightforward to reduce barriers, with support available for those needing guidance.
The deadline is 28 November 2025, giving applicants a short window to prepare submissions. Successful candidates will be selected based on criteria like business viability, potential impact, and alignment with transformation goals. Funds will be disbursed directly to approved service providers, ensuring quick and secure transactions.
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