Metropolitan is part of Momentum Metropolitan Life Limited, an authorised financial services (FSP 44673) and registered credit provider (NCRCP 173). With a legacy of over 120 years, Metropolitan has been serving and empowering South African communities with accessible financial solutions through the best and challenging times. As one of the largest financial services companies in South Africa, our legacy is centred on providing client centric solutions. Our long-standing commitment to treating our clients with respect is what has allowed us to remain at the top of the South African Customer Satisfaction Index (SAcsi) for a number of consecutive years.
We believe that financial literacy paired with expert advice enables you to make good decisions about your money. To help you achieve this we have over 140 branches throughout South Africa as well as centres of service in Namibia, Botswana, Kenya, Ghana, Lesotho, and Swaziland.
Metropolitan was established in a small office in Paarl, Western Cape, in 1897, when a syndicate was formed that was aimed at providing finance to those who could not afford to buy their own homes. The company was registered as the African Homes Trust.
Since then, Metropolitan has grown through a combination of organic growth, mergers with other companies and acquisitions to become what it is today.
Momentum and Metropolitan merged in December 2010, to form Momentum Metropolitan Life Limited. The merger has positioned Momentum Metropolitan Life Limited as the third largest life insurer in South Africa.
At Metropolitan, we are committed to “roll up our sleeves” and work together to find a way to make a difference in the lives of those who need it most. These are some of the initiatives we are involved in as part of the broader Momentum Metropolitan foundation:
Since 2017, we have partnered with African Unity Foundation (AUF) to offer financial literacy training in rural communities in the Eastern Cape. The literacy training allows us to extend our reach to rural communities where financial management skills are necessary.
We recognise that the future of our country, our economy, and our business lies in the hands of the youth. Our strategic objective is to provide young people with tools and skills to help them achieve their future financial life goals. Our vision is to see financial education at school level to empower the youth with healthy financial habits while building positive attitudes towards money.
Our financial education programmes are aimed at grade 10, grade 11 and grade 12 learners. Building an entrepreneurial spirit at an early age also promotes leadership qualities that enhance independent, lateral thinkers.
We have partnered with the University of the Western Cape’s Centre for Entrepreneurship and Innovation South Africa (CEI) to launch the UWC FinLit innovation competition. The competition selects 30 students who are then split into groups and are tasked with coming up with innovative financial solutions that speak to their peers. The students attend a series of design-thinking workshops which are facilitated by representatives from Metropolitan as well as previous competition participants.
The groups then use what they learned to come up with innovative solutions. The winning group will receive an internship with Metropolitan and be offered the opportunity to implement their ideas. The internship will also be accompanied by a cash prize as well as Metropolitan-branded merchandise.
“By incorporating the voice and perspective of young people into our financial education programmes, we will be better able to reach and teach those who will shape our country’s future.”
This programme was designed to offer grade 11 learners with interactive lessons that merge creative input with financial expertise. With two Metropolitan mentors guiding the process, the learners are tasked with creating a business – a sneaker company- within groups. The groups design their own sneakers which they then market to rest of the school. The business that receives the most voted for their designs; win their custom-made sneakers which they designed. The content covered in this programmes ranges from how to plan and follow a budget to how to build a good credit record and stay out of debt.
The Young Entrepreneurs Foundation (YEF) offers a specifically designed 30 week- programme to teach financial literacy and entrepreneurship to the youth. Their courses are usually offered to schools as additional learning for their learners through the national YE franchises. Through our partnership with YEF, we are able to offer the programme to entire grades within the school’s academic calendar. The programme covers 15 weeks dedicated to learning about entrepreneurship and 15 weeks dedicated to learning about financial literacy. The programme is designed to encourage an entrepreneurial spirit amongst the learners, with the approach to nurture an existing spirit of imagination and the willingness of the learners to take risks.
Young Entrepreneurs also offers parent workshops that deal with ‘How to raise money-smart kids’ as well as how to raise ‘business-minded’ children. Parents are encouraged to take responsibility for their children’s financial habits and to assist their children in adopting healthy financial behaviour.
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