Old Mutual is shaking up the status quo by launching a mobile virtual network operator in South Africa.
In a bold move, the insurance giant is ditching traditional mobile operators to offer competitive services that will disrupt the market. And it’s not just any mobile operator – Old Mutual has partnered with Cell C, which will leverage Vodacom and MTN’s networks.
The company’s focus is on the “lower segment market”, where it will offer “unparalleled value” in data plans. And with a starting price of just R5 for a Sim card, it’s clear that Old Mutual is serious about making mobile connectivity accessible to all.
Called Old Mutual Connect, the MVNO is part of the company’s “integrated financial services” strategy. According to Clarence Nethengwe, MD of Old Mutual’s Mass Foundation cluster and CEO designate of Old Mutual’s bank, affordable data and reliable connectivity are critical for customers in the mass market to participate in the mainstream economy.
So, what’s on offer? Old Mutual Connect offers:
- A Sim card for as little as R5 from any Old Mutual branch. Customers can also buy data and airtime from a variety of channels, including branch, partner and digital.
- A range of data bundles that can be personalised to individual needs. Users get 1GB of data gratis for activating their Sims. And, there’s a two-for-one data bundle when users purchase any data product, getting an additional purchased bundle for “free”.
- “Hassle-free” assistance to Rica Sims or port numbers.
Disrupting the Status Quo
Old Mutual is not just launching a mobile virtual network operator – it’s challenging the traditional banking and mobile operators to step up their game. And with its focus on the lower segment market, it’s clear that the company is committed to making a real difference in the lives of South Africans.
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