Old Mutual celebrates 70 years, targets agriculture investments

Old Mutual Malawi plc has pledged to continue investing in agriculture to assist in fixing the balance of payment gap as it celebrates 70 years of doing business in the country.

In her remarks at a cocktail organised to celebrate the 70th anniversary on Friday in Blantyre, the firm’s group chief executive officer Edith Jiya said the milestone in an opportunity to reflect on what they have done well and what they need to improve on.

She said: “I think the most important thing is that we have evolved as a business. It is, therefore, imperative that we need to evolve around what the clients want, what our employees need and the needs of shareholders and stakeholders.

“Old Mutual has played its role for the past 70 years. We can talk about its role in setting up most of the companies that you see on the Malawi Stock Exchange.”

Jiya said looking ahead, Old Mutual Malawi is targeting to continue with its alternative investment drive where special projects in agriculture and energy are considered.

FDH Bank plc head of corporate and investment banking Kawawa Msapato said Old Mutual’s 70 years of doing business in Malawi is a feat that should be emulated.

He said: “We enjoy the services from Old Mutual, particularly for FDH Bank’s pension fund.

“It is a partnership that has really benefited us because they are the ones managing our pension funds and frankly we are happy with the investment returns that we get.” Old Mutual (Malawi) plc offers services that include life assurance, asset management, unit trusts, property management, short-term insurance and pension services.