As a long-term investor and responsible steward of the assets it manages on behalf of its customers, Old Mutual Africa is on course to becoming the leading responsible investor on the continent, where it has offices in Kenya, Malawi, Zimbabwe and Namibia. Old Mutual Africa’s Responsible Investment Committee spearheads this initiative, ensuring that we continue to incorporate environmental, social and governance (ESG) considerations in the assets in which we invest. Marjorie Mayida shares some of the learnings along her ESG journey into the African investment landscape.
Millennials are often portrayed in the media as lazy, narcissistic and entitled, but these harsh generalisations could not be further from the truth. According to the Rise of the Millennials survey conducted in October 2015 by Standard Life Investments, which seeks to find what motivates millennials, it was found that 61% of the millennials interviewed were worried about the state of the world and felt that they were personally responsible for making a difference.
The exclusion of the poor from participating in, and getting access to, opportunities and activities is a major dimension of poverty that needs to be recognised and addressed. As allocators of capital, we believe that social inclusion considerations must be an integral component of our investment and ownership decisions.
Stanley joined Generation Kenya in 2015. After graduation he got a job as a sales associate with Old Mutual.
Poverty blocked my path
Stanley is one of eight children who was raised by a single mother in Nairobi. His family often struggled to find money for necessities like food and shelter. “All of us were raised in the slums – we have lived this life for a long time,” he says. Despite performing very well in school, Stanley was unable to afford university.
Scientists tell us that earth is overshooting its planetary boundaries at a rate far quicker than the average person would believe. This situation becomes rapidly compounded by the significant challenges of population growth, urbanization, unemployment and rising socioeconomic inequality. To complicate things further, the most rapid change is occurring in those parts of the world with the least resources and capacity to manage these effects.
While the debate over the use of nuclear power continues, the renewable energy sector is quietly forging ahead and independent power producers are adding much-needed capacity to the grid. Since the Department of Energy (DoE) embarked on its alternative energy drive in 2012, capital investments in renewables have totalled almost R200 billion.
While there may be sufficient physical sources of water, behavioural patterns often lead to water scarcity. That which may be abundant effectively becomes scarce through waste, poor pricing, inefficient allocation or the inability of human systems to keep up with the latest technologies. However, institutions can foster decisions that take us on a path from scarcity back to abundance.