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Old Mutual invests in SA’s future through donation to UCT

Old Mutual Alumni handed over a R2 million cheque to the institution this morning.

Picture: Supplied.

CAPE TOWN - The University of Cape Town (UCT) has received a R2 million donation to assist students who are struggling financially.

Old Mutual Alumni handed over the cheque to the institution this morning.

The university's Student Representative Council (SRC) says this is a result of the fund-raising campaign it has spearheaded.

The company decided on the sizable donation following conversations with UCT.

The assistance brought the SRC funding future campaign's tally to R2,2 million.

Old Mutual's Joel Buepi say it hopes to encourage others.

"[We hope to encourage] other institutions to give to institutions; the best way to invest in our future."

The SRC's Busiswe Nxumalo has thanked the financial services company

"You never know, one of the students they help could be the future CEO of Old Mutual."

The donation comes in the wake of a university announcement that it will have to implement serious cost-cutting measures in the next two years, in an attempt to save R120 million.