Old Mutual links rewards to unit trusts

Rewards
Old Mutual Namibia rewards redemptions exceed N$5 million as investment option launches
Staff Reporter
  • 1 Hour Ago

Old Mutual Namibia has introduced a feature allowing members of its Rewards programme to convert their points into investments in its unit trust funds.


The company said the move was aimed at making it easier for clients to turn rewards earned through everyday financial and lifestyle choices into long-term savings and investments.


Members of the Old Mutual Rewards programme can transfer their points into one of Old Mutual Namibia’s unit trust funds. The company said the option could be used by people saving for emergencies, a child’s education or longer-term financial goals.


The announcement comes as redemptions through the Old Mutual Rewards programme have exceeded N$5 million in value, according to the company. Old Mutual Namibia said the milestone reflected the programme’s growing role in encouraging positive financial and lifestyle choices among its members.


“We are constantly looking for ways to connect financial wellness with our customers’ real lives,” said Logan Fransman, Old Mutual Namibia’s group chief operating officer.


“With this enhancement, we’re showing that every point earned through our Rewards programme can now play a role in building a stronger financial future. It’s one more step towards making investing more inclusive and accessible.”


Clients without an active unit trust account can visit the Old Mutual Namibia website for information on opening one. Once the account has been activated, they can begin converting Rewards points into unit trust investments.


The conversion facility is currently available only on the Old Mutual Namibia Rewards web platform and cannot yet be accessed through the mobile app. Members can log in through the website to convert points into investments.


Old Mutual Rewards gives members points for activities such as using budgeting tools, engaging with financial education resources and making what the company describes as responsible product choices.


Old Mutual Namibia said members would now be able to choose whether to redeem those points in other ways or convert them into investments that could generate returns over time.


The company said linking Rewards points to unit trust investments formed part of its effort to provide financial products and services that support customers at different stages of their financial lives.