The Old Mutual Education Trust (OMET) was established in 2005 as part of a Broad-Based Black Economic Empowerment transaction between Old Mutual and ten trade unions the company has a business relationship with. Rather than a typical corporate bursary, OMET is an independently registered trust, jointly governed by Old Mutual and its partner unions, and funded using dividends from Old Mutual's plc shares.
OMET exists specifically to support the members of its ten partner trade unions and their dependants - among the more financially disadvantaged groups the trust identifies - rather than the general public. Since its founding, the trust has invested well over R100 million and supported hundreds of graduates through partial bursary funding and holistic student support, including counselling, tutoring, job preparation, and computer provision.
Because OMET's funding structure is tied to Old Mutual's BBBEE commitments, eligibility depends on union membership rather than academic merit alone - it's one of the more unusual bursary structures on this site.
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