Old Mutual On The Money
Old Mutual On The Money
Cornet Mamabolo on staying grounded, determined, and doing what it takes to build financial freedom
Even after getting his big break in show business, actor, entrepreneur, and philanthropist Cornet Mamabolo kept hustling – selling funeral policies at taxi ranks and malls.
Why? Because Cornet believes that success isn’t about appearances, but about staying focused on your financial goals and doing what it takes to reach them.
In fact, that side hustle was more than just extra income — it became the foundation of his business journey. What started as selling policies at taxi ranks eventually inspired him to start his own brokerage, turning his hustle into a thriving enterprise.
In this episode of On the Money, Cornet joins Old Mutual’s Financial Education Programme Manager, Thabo Hollo, to talk about the power of staying grounded, staying focused, and staying hungry until you reach your goals.
It’s an inspiring reminder that there’s no shame in the hustle. When you stop worrying about what people think and stay focused on the bigger picture, every step forward becomes part of the plan.
Thanks for listening! Interested in getting more financial education? Visit our website for free resources. You can follow us on X, Facebook, Instagram, TikTok, and YouTube.
THABO HOLLO [00:04] :
Hello! This is Old Mutual On The Money with John Manyike. My name is Thabo Hollo and welcome to our next episode. Today we have a special guest, a very versatile individual. You might know him as an actor. He's also an entrepreneur and a philanthropist. Welcome Mr Cornet Mamabolo, how are you Sir?
CORNET MAMABOLO [00:29] :
No I'm well, I'm well thank you.
THABO HOLLO [00:30] :
Fantastic. Tell me about yourself? Where does Cornet come from and how did you get to where you come from?
CORNET MAMABOLO [00:39] :
Umm Cornet is uh, from a small village in Limpopo called GaMamabolo, Thabakgone and also from another small village called ha Mamolepa, and umm I think when I was doing grade 7 I moved to Gauteng in Allendale Midrand, but I spent most of my upbringing in Ivory Park, it’s a township in Midrand and yeah, I've, I'm just a young man that has always been interested in the arts and how I can use arts as a, as a vehicle to liberate myself.
THABO HOLLO [01:26] :
In fact, that's what I wanted to find out, growing not far from a Turfloop, not far from ZCC, running around in the dusty area there. Did you ever, ever dream that one day, just one day, I'll be this mega, mega star?
CORNET MAMABOLO [01:42] :
No, no, no, no. That that would be a lie. But, uh but I've always appreciated performance, so I was more drawn towards performing arts more than more than screen because you know the stigma when you grow up from the villages you knew that TV was for specific people who were white or good looking and we've always regarded ourselves as those you know, scruff ugly guys that only deserve the stage.
THABO HOLLO [02:17] :
My goodness. So, so you've always thought, now I'll end up on stage. But TV is not one of them,.
CORNET MAMABOLO [02:20] :
No, no no TV definitely not umm, nah TV not TV, TV found me.
THABO HOLLO [02:28] :
Oh, really?
CORNET MAMABOLO [02:28] :
Yeah. TV found me. TV found me on stage. I had to learn, you know, acting television techniques because I was more, you know on presentational type of acting because of stage, the poor theatre process, theatre type of background. I was not more drawn to realism, realist style of acting or performance. I was more of like an outward type of a performer but then TV then just molded me to become a much more like a reserved individual.
THABO HOLLO [03:06] :
Interesting those that do not know you actually studied drama right? And, and you were at WITS at some point. How do you marry people that talk about natural acting versus taught or learned acting to juxtapose the two? How do you feel about the the two worlds?
CORNET MAMABOLO [03:28] :
Look, you need a technique. So talent is one thing, technique is another thing. And also understanding the industry from a more technical perspective is quite critical for, for any individual that want to get into any field. So I would not be for example, I know what I need to do when I get to a certain type of genre. I know what if, If I'm expected to act in an industrial theatre performance, this is what I need to do. If I need to perform in a more experimental film style, this is what I need to do. So I'm much more exposed from a technical point of view, which is what you know, any individual that wants to explore the field must, must focus on. But more than anything, when you, when you have went through a formal way of training is that you understand the sector even much more better as compared to somebody that just comes in with talent. You know you won't be frustrated. It'll say you're an individual that is interested in in television or film. If opportunities happens to not come, then you know other mediums that are available for you out there and how to maneuver around them. Then you don't become that frustrated artist. So that's, that, that line of much helps in that perspective.
THABO HOLLO [02:17] :
Fantastic. Seasoned actor, from Ga Mamabolo to Ga Molepo, to Allendale, to the big city lights of Joburg; that transitioning, let's, let's talk about you the, the, the impact of the transitioning on your life. I wanna drive more towards uh now you're earning a salary. What does it mean for you? What does it mean for that young man from Ga Mamabolo?.
CORNET MAMABOLO [05:19] :
Yoh, excitement. It’s excitement. So. I would say the first excitement is when, I mean when, because my interest has always been how this commercial industry looks like, because I come from the background of community hall performing, I come from that space sleeping in the classrooms during camps and theater festivals. So now having to be told that you are given this TV role and scripts get delivered at your house and when you are at work doing screen tests, you have been offered burgers. You're told that's your wardrobe.
THABO HOLLO [06:10] :
Wow!
CORNET MAMABOLO [06:11] :
So you know, it doesn't feel real, you know, in the first stages of it. And to get attention from different, you know, crew members on set that whereas when you're on stage, you are managing your own costume, you you're managing your own, you know, as a, you know, movements on stage. It's just that environment then becomes, you know, it takes a bit of time for you to eventually settle in it, but it it's, it's exciting and scary, yeah.
THABO HOLLO [06:42] :
Wow! No, fantastic. And, and tell me now, now you're this big time actor Tibos. Everybody knows Tibos, right? And you decide. Nah, I'm moving out. I'm gonna start something. Was it scary? Was it something that you had planned originally? Was it something that just landed on your lap? How did you transition from being a full time big actor, to a, an entrepreneur?
CORNET MAMABOLO [07:07] :
Umm, my business called me umm, so I did not force myself out of production. I did not say wake up and say, you know what I need to leave so that I can focus on my business. So due to you know, activities that were happening in my business and more especially because I'm dealing with people's funds, I didn't want to find myself on the other side, the wrong side of the of the law you see? So I had to show up for it, but I'm, I'm one guy that has always believed that I should use art as an instrument to tap into other industries, and I've done that quite earlier in my, in my career when I got my big break. Umm, much as I was, you know, big and people celebrated me, I, I, I, I took an approach of becoming a sales Rep and I would sell funeral policies and people would be shocked at the taxi rank and malls and, and so forth and I was just using that instrument, uh, to tap into other industries and, umm when that moment revealed itself for me, I just felt let me, let me not postpone this any further, let me focus in developing myself as a, as an entrepreneur. Umm but the other thing is that umm, I've never been a, you know, a big believer in being employed as an artist. I how I was trained is that arts is collaborations. So, so if it means the other collaborations that I can do with the channel or with the producers, then that moment will come, but I should not hold into, into the roles and to a point whereby, you know, all my creative juices would, would die by the time I would have, you know, gone by the time I decided to be independent.
THABO HOLLO [09:26] :
I hear you and but you, you, you said something very interesting, you spoke about umm looking after other people's monies. Now, now you have to be serious. You have to be focused, because now you're dealing with other people's finances, right. Let's talk about your own finances right, we've, we've seen that, where in the particularly the arts, culture, sports kind of environment right where people pass away and they pass away broke. Now we discover so and so was popular at some point and now we have to pitch in and try bury them. How about managing your own personal, personal finances? So what is your view in terms of how particularly people, artists right, should manage their finances?
CORNET MAMABOLO [10:10] :
Umm yoh. Putting, putting in your money where it, it matters. Umm. So let, let me answer it maybe from how one, you know, my relationship with money was like, when our first no, got my first proper salary from the production. I invested in, in buying equipment. Because my background is performing arts, writing and directing so at the time because I had no plans of being in the financial sector, so the only industry that I understood at the time was arts. So I invested in lights, I invested in cameras, I invested in laptops together with my guys. I think I was with Musa. He's now a cinematographer and Tshepo who also is a cinematographer. And we invested in that space and all we wanted to do was just to shoot pilots so that money I could have spent it elsewhere because of the lifestyle of you know the glitz and glamour, I could have wanted to. So when money stays for too long on you, um, it, it makes plans for you.
[THABO HOLLO [11:35] :
OK, when money stays long on you, yeah it makes plans for you]
CORNET MAMABOLO [11:41] :
Yeah, especially if you're have got no plans for that, for those finances. Umm yes, I was saving, but I was, even now I'm not a big fan of looking at 100,000 in the bank account, in the savings account and just letting it be there because one day I'm going to need it. You know, I need to find ways in which I need to find a convincing reason for me to spend that money on. So from camera, obviously then we had plans of having our own production house, and we did exactly that. But after it got stolen, then that just killed us then I closed that chapter.
THABO HOLLO [12:21] :
So, so you closed, completely closed the, the production chapter just uh, of the because of the risk or?
CORNET MAMABOLO [12:29] :
Yeah, because of because also at the time in terms of the cash flow, you know, we were limited. All of us were not stable because we're just freelancers. And freelancers where work was not consistent, so we had to just focus on developing our own careers in the arts. I, I was more developing myself in acting. They were developing themselves behind the scenes. And, you know, then I then took a different turn and then I, I just focused in business so artists, artists money is easily available the, the danger with our industry is that when we get money and it comes at a very fast pace through gigs doing multiple productions and all of that, you, it's very easy for one to not think that at some point the graph is going to drop. And you don't want that to happen when, you don't want to realize that when the graph is dropping. So diversification then becomes important. It's not a, a matter of you saying I need a, a secondary plan or I need it's it's it has nothing to do with that. It's just. It's just you saying what assets can I, I, I said let me buy things that matter. Um, I bought property, but before then I bought a car. But I realized that I bought an expensive car then…
THABO HOLLO [13:56] :
How? Do you know, how do you know that it was expensive? Was it burning your pocket? Was it bought on debt. How? How do you know that this was not a wise decision in terms of the price of the car?
CORNET MAMABOLO [14:10] :
So when at the early stages, when I was, my first paycheck I managed to save to buy my car cash. Unfortunately then, then I let go of the car when I let go of the car, because I was scared of credit; I rented a car. You know those long term lease? So then there I knew I had no responsibility over the vehicle in terms of insurance, in terms of, you know, my, my credit was still, you know, sharp. But because of pressure in the industry I was gigging, I was making money and all of it. And then I went into that also with the perception of saying, this business, guys must take me serious. And you're thinking you'll only be taken serious if you're driving something posh and nice. You know, I learned later that it's a, it's a, it's a, it doesn't really matter. You see, I mean, when you don't get gigs, that that that instalment that is going out, it's it's quite heavy on you if you were to lose this contract because we're doing, you know, year to year contract. If if I was to be removed from a global actor, and be put on the per-call actor, there's no way that I'm going to survive with this car. And I bought the car before I could get a property. So the wheel of the car was more higher than the property. Wow. So and you learn these things, uh I had to change my things around. Umm, yeah, yeah, yeah.
THABO HOLLO [15:49] :
But at what point? Did something click that says, look, uh, you can have a car that is more valued than, than your house? What was that break point where you said I don't think I'm going the right way?
CORNET MAMABOLO [16:01] :
It it clicked when, when I when I had kids.
THABO HOLLO [16:15] :
They are a cruel reminder of managing money.
CORNET MAMABOLO [16:17] :
Yeah, kids are a cruel reminder. So I mean well, I have this car and so what I mean so what I paid off since, then so what then what you know what else with property can speak a different not a property guy, but that's just that a little, you know, at least the you realized or I know, I think I need to do things differently. I need to buy things that I can sell and that I have not dropped value. You know, with the car, it would, it would have, you know, not to say, you know, all the properties don't drop value, but the risks are quite minimal. It's things that you buy that you can easily sell and you can you know be fine again. So I, I reinvested more in business. The money that I was getting, I was just reinvesting it in business on myself and, and just personal growth you know.
THABO HOLLO [17:14] :
Yeah, when you spoke about diversity, fine, so at the best of time, getting into the financial services industry can be the hardest. Did you find that it was harder to get into that space than acting? And if so, what are the lessons that you've pulled out of acting into your entrepreneur, at least in the financial services sector? Is there anything that we have learned?
CORNET MAMABOLO [17:37] :
Yeah, the financial services sector, it's, it's tough. It’s expensive as well. The compliance part of it is expensive. To acquire lessons is expensive. Uh, to get talent or the human resource in your business is, is expensive. To, systems are expensive. Uh, to do to, to administration of those policies that you write, umm, it it's just an expensive industry and umm. I think I, I, when we started in 2014, we, we only had assistance business which is funeral policies that we could sell at the time. And we were interested in diversifying our business portfolio to, to sell car insurance, to sell home contents, to do health insurance, to get into the medical space to, to be as diverse as possible as a, as a broker house. Uh, but to get those? It's a it's a nightmare, you would even to a certain extent feel like, there seems to be red tape here. Even though you wouldn't know who is holding it on the left or on the right, there’s just that red tape for you to cross, yeah. So it's, it's just, it's a difficult industry, uh, but one is passionate about it. I love it. Umm, I think it's a space where we need to see more black players in it because most of these premium payers are black people anyway, you see umm. The big lessons for me, what I took from the arts, you know the funny story that when I got into insurance, that was the first time I got into this world of corporate. Before then, I've never gone through the door of corporate, I only knew the arts. So it has always been painted as this difficult, strict, formalized, yeah you know? And once I was in there, I realized that by virtue of being an actor, I'm actually more exposed than all these guys that are sitting in this room. And, and that happens because especially when you've been fortunate to play different characters cause acting forces you to do research. And by doing research you are exposed to many sectors. In actual fact, if you're trained actor, you realize that before you can professionalize, you start with some few modules that are focused on general BA and doing a general BA exposes you to politics, economics, it exposes you to pretty much everything you know? Marketing, we have been, we're selling tickets for theater shows. So what is a policy? It's a policy.
THABO HOLLO [20:38] :
I mean, if you can sell tickets to the show…
CORNET MAMABOLO [20:40] :
Well it's just a simple principles after that is just you now developing yourself to be a financial advisor and now you need to be exposed to the regulations, which is another thing that you learn while you are you, you are, umm, you are working. So I've, I've learned that arts worked for me in business, uh, not to bring business, but in terms of attitude, umm, in terms of getting attention, umm, it has worked for me. Uh, it in, in, in many ways, I come from an unregulated industry and as a salesperson when I was starting, that was not a, a brainer for me whether they were going to pay me or not it's it's immaterial. I need to get what I want and then leave the rest. So arts has shaped me in so many ways , than one. Business is just a cherry on top. I wish artists can just you know, appreciate business and not see it as this because we just need to sell something.
THABO HOLLO [22:22] :
Talk to me about that. So there's two things I want to understand, right? What is it that you would share with your fellow artists in terms of personal finances that you've observed in that world? That's number one. And, and just on that, if you were to advise your younger self, right? A boy from Ga Mamabolo to say, if you were to be successful, this is how you manage. What are those steps that you would advise yourself for success?
CORNET MAMABOLO [22:30] :
So starting with the with the observations of observations, people, people don't have one stream of income. Yeah, they don't. Like if you want financial liberation, people don't have one income. And it's so funny that a person can be making a good more than a bar per annum and they will still be interested to sell mere water at funerals to generate income yeah it's it's, it's or a person could be making more than a bar per annum and they'll still be OK printing programs at the funeral. People are constantly looking for streams of income. Streams of income and the way in the manner in which they're doing them is that they they are not allowing those streams of income to derail them from what they love. You know, so if you're an artist that loves acting, artist that is a musician and artist that is a visual artist or even production. The, the point is then have streams. Have streams, then those streams will call you To focus on them, OK. And then, because it's very difficult to do arts for money. I don't think there's any artist that is comfortable with waking up and they have to do what they do because they must make money. They, they get to that point because responsibilities have presented themselves to them and they need to take care of those responsibilities. But more than anything, we want to collaborate and do work. We want to create the song, we want to create the production. We want to act on something. We, we want to paint it. We, we, we are more intact with self and so it's very difficult for, for you to do what you love at any given time, if there's that constant responsibility that says hey don’t forget about me, so these streams then assist you to deal with that to deal with and then you know, you can easily say to produce, let me go think about this offer that you are giving me.
THABO HOLLO [25:04] :
Because you don't have that pressure. Yeah, no, you don't. Because you don't have to accept.
CORNET MAMABOLO [25:08] :
You don't have to just. Then tomorrow it's you out there saying it's because you don't give yourself you know that time to, to you know, to position yourself on this opportunity that is presented itself.
THABO HOLLO [25:24] :
Yeah I hear you. That young man from Thabakgone, what are you telling him in terms of how personal finances work?
CORNET MAMABOLO [25:33] :
Yeah. Money is scarce. Yeah, it's scarce, Zaga is cars and in it being scarce, you must respect it. You need to respect it, and its not here forever, it gets depleted if you just take from it without having an extra income coming from another direction. And even if you've got a sustainable job and all you're doing is working, money comes in and then you can't wait to spend it, it gets depleted you know, um you just need to, just have a healthy relationship with it, like find ways to, I don’t want to get too philosophical and say make money work for you or what you know, those things that are said. You know what you want, and the best way to multiply it is when you do what you love and you are, you are literally invested in what you love because, because if you love something you will then develop interest in that thing, and once you've got interest in that thing, then you're going to be exposed to the opportunities that comes with that thing that you love. Then because opportunities are exposed, then you will know what opportunities to take. And some opportunities require a skill so that continuous professional development becomes critical as well. You get what I'm saying, but also some opportunities need to be bought or you need to mobilize the resources for you to get them. So if there's income, the first thing you must do is respect it and focus in this thing that you do develop yourself there and if there's interest in other sectors or whatever, then then take your chances there but but, but firstly, do your own analysis there and you’ll be ok
THABO HOLLO [27:53] :
I'm picking up so many nuggets out of, out of, for instance, the respect for money, creating multiple streams of, of, of money and knowing that the money is finite, it's not there forever. That's fantastic, but talk to me about your philanthropy. Giving, uh, is apart from being an actor, uh, being an entrepreneur, you also, also regarded as, as somebody that is into giving. Talk to me about that part of your life.
CORNET MAMABOLO [28:22] :
I have received a lot of love from people that I don't even know, uh and that's through my craft and, uh it's love that you know, only a few small percentage of people really get an opportunity to get and that's a special thing. I don't take that light. And that love for giving comes from that, you know? I just need to give it back but also I don’t believe that I'm one of the special breeds that come from my village I think umm, I just believe that the universe chose me and I, and I also believe that I'm just one of those that are lucky. Not that I'm better than the guys that I grew up with or the guys from my village and the townships. So because of that then let me use this luck, this favor, you know, to work with others or to, to give back. Umm, and that's where all of that comes from. And that's why I've built and donated a library to my village and I do those programs, uh, without feeling like I'm putting in any effort because it just comes naturally to me. And I've done a lot of reaching out programs. While I was doing a lot of acting work but I didn't realize that as soon as I leave, I, I leave with that, that I've told people it's only the few that will take home what I've told them. And that's why I believe in building institutions for, for impact. Yeah, be it from an employer point of view, uh, be it from a philanthropy point of view. Like now, I'm also in the skills development space. Uh, I run accredited programs in film and television, insurance, in agriculture. I produce artisans. I'm currently building a college in my village because I strongly believe that it will be a catalyst for social change and economic activities that are happening in my village. That gives me comfort and sleep. Uh, because anything else I think my children are alright, my wife is alright and my parents are alright and my relatives, the people I know, but there are kids out there that are just looking for a guy that cares.
THABO HOLLO [31:31] :
Wow. Like when last? I’m taken with that but I have to ask you the last one and particularly concentrating in the industry if you were to take, to talk to your to your fellow artists right, umm again in terms of the finances if there was one, two or three things that you would say if you do this, you will be OK. If there's one, two or three things that you would say to my fellow artists, in this particular industry, if you were to do this, then were on. What would those be?
CORNET MAMABOLO [32:11] :
Yeah. So your, your dignity is not in your in the cars you drive, the clothes you wear uh, not in the house you stay in not on how much money spent at a club. Not on how many girls or boys you change. Umm, your dignity is when you're sick and you must have a health facility. So care about that first, because it's your health that carries you to execute that work. Ask people, OK, I cannot afford a medical aid because I'm a freelance artist. I can't manage medical aid is there are the other there's hospital plan. OK. I cannot afford a hospital plan this health insurance. Medication over the counter in case I'm in a car accident and I'm rushing to the next gig here are these products, understand what products works for you and they're affordable and even when you are at your lowest, you know that I can afford this. Your dignity is when your parents passes on and were there to support you and you can send them off with dignity. Dignity is when your kids live in a balanced lifestyle so, so don't get to things mixed up in terms of you, where your dignity is and spend on things that will grow you. You know it that as an actor, there's no sustainability I must wait for auditions. Yeah, build relationships. So you know we can be called to the same gig here, and because I don't know you and I know that guy there that I act with, and I'll only greet that guy and not greet this one, yeah. And life is about relations. So we get invited to corporate gigs, MCing gigs at some entertainment gigs uh, and you'll be in your green room and you are just stay alone with your phone and everything, you're expecting people to come to you. And if you really care about your future and career, you will work on the relationships using your currency, social currency as an artist. It will the social currency will unlock a door for you to meet a CEO, an executive manager, a brand manager. It will unlock your deals to be in commercials. They will unlock deals many doors, so be interested in knowing people. Because it's difficult for, for somebody that does not have a social currency to get to that individual that has invited you as an individual. So we we've, we fall very short on that part. And and the other thing is just the right attitude towards the, the universe, uh and the people. Because those people call us and when they call us you are not there by mistake. You're not there because you're famous because it could have been called elsewhere, or it could have been called elsewhere, but you're called there and it's your responsibility to find that X Factor and, and grow. Well, I believe in relations more than anything and they are, I am who I am because of, of relationships there.
THABO HOLLO [36:03] :
Fantastic. Mr Mamabolo, the boy from GA Mamabolo. Thank you very much my brother, fantastic, great insight. You heard him. Build those relationships, use your social currency. Dignity is everything, and dignity is not how many bottles you buy at the bar. But most importantly, if you don't have a plan for your money, the money will have a plan for you. That's how we wrap it up for today. Thank you and goodbye.