Old Mutual Education Trust

About the Old Mutual Education Trust

The Old Mutual Education Trust, known as OMET, started in 2005. It was created as part of a Broad-Based Black Economic Empowerment transaction between Old Mutual and ten trade unions that the company works with. OMET is an independently registered trust, so it is not a normal corporate bursary. Old Mutual and its partner unions govern it together, and it is funded from dividends on Old Mutual shares.

The trust exists to help union members and their families. It reaches groups that it describes as financially disadvantaged. Since its founding, it has invested well over R100 million and supported hundreds of graduates.

How OMET supports students

OMET gives partial bursaries for first undergraduate qualifications at public universities in South Africa. In recent calls the award was R77,000 per academic year. However, the amount can change, so check the current figure before you plan your budget.

Money is only part of the offer. The trust also runs a student support programme. Students have had access to tutoring and counselling, and they have received a laptop when they join. A World of Work programme then helps them prepare for jobs after graduation. For many first-generation students, these extras matter as much as the funding.

The structure of the trust is unusual, so it helps to understand it. Because partner unions help govern OMET, the trust answers to worker organisations as well as to Old Mutual. Its goal is to widen access to higher education for working families, who often cannot afford university fees without help. Partial funding means you may still need other sources for the balance, such as NSFAS or a second bursary.

What to know before applying

Eligibility depends on union connection, not only on marks. You qualify if you are a paid-up member of one of the partner unions. A spouse of a paid-up member can also apply. The same goes for a child dependant under 25 who relies on a member, including an adopted child, stepchild or grandchild in some cases. Permanent staff of the unions, and their spouses and children, may also apply.

The partner unions named in recent calls are DENOSA, NATU, NEHAWU, NUM, PEU, POPCRU, SACWU, SACCAWU, SADTU and SASBO. Check that your union is on the current list.

Applicants must also be South African citizens. They must have completed matric or be in matric, and plan to study towards their first undergraduate degree. The institution must be a recognised public university.

The closing date has fallen around the end of August in recent years. Gather proof of union membership, your ID and your results early. Because the process relies on documents from your union, ask your union office for confirmation well before the deadline.