The Old Mutual Education Trust (OMET)

The Old Mutual Education Trust (OMET) was established in April 2005 as part of a broad-based black economic empowerment transaction between Old Mutual and ten trade unions with which Old Mutual has a business relationship. OMET is an independently registered trust, jointly governed by Old Mutual and its partner unions, and funded by dividends from Old Mutual shares.

Registered name

The Old Mutual Education Trust (OMET)

Type

Independent education trust (Old Mutual and partner unions)

Fields funded

First undergraduate diplomas and degrees at public universities

Website

oldmutual.co.za

A bursary tied to union membership

OMET exists to support members of its partner unions and their families, rather than the general public. That makes OMET one of the more unusual bursary structures in South Africa: eligibility depends on union membership as well as academic merit. OMET forms part of Old Mutual’s “Truly Mutual” education strategy, and has supported the studies of more than 550 graduates.

Who can apply

Applicants must be paid-up members of a participating union, full-time permanent employees of one of the unions, or the spouse or child dependant under 25 of a member or employee. OMET funds a first undergraduate qualification, either a diploma or a bachelor’s degree, and applicants need their parent’s union membership or employee number.

What the bursary provides

OMET pays R77 000 per student per academic year as partial funding, so bursars usually need other support too. Each student gets a dedicated Student Support Practitioner, and unemployed graduates can apply for a 12-month internship, subject to placements.

Support aimed at completion

OMET aims for 90% of its scholarship holders to complete their studies, with 80% finishing in minimum time. For academic success, OMET provides tutoring through Excel@Uni, Udemy access and webinars on study skills and examination preparation. For emotional wellbeing, OMET runs a peer buddy programme for first-years, Campus Connect sessions and access to a contracted psychologist for students with limited mental health support.

Timing

Applications for 2027 ran from 1 July to 31 August 2026. Selection takes place from 7 to 9 October 2026, and OMET informs successful applicants after board approval in November 2026.

How to research OMET

Check OMET’s list of participating unions before planning an application, and ask the union office to confirm the member’s status. Read OMET’s success stories to understand what the trust looks for. Old Mutual’s Amathuba learnership is a separate route for matriculants who want a wealth management qualification.

See also the NUMSA Bursary for members’ children.