First Mutual eyes regional growth
CHENGETAI MURIMWA
First Mutual Holdings Limited is intensifying its regional expansion strategy as the diversified financial services group seeks to broaden its footprint across Africa, diversify revenue streams and strengthen its long-term growth prospects.
Speaking to journalists this week, First Mutual Group Marketing and Strategy Coordination Executive Farayi Mangwende said the group has already established an insurance presence in Mozambique and holds a shareholding in United General Insurance (UGI) in Malawi. It is also extending its health services business into Botswana and Mozambique.
Mangwende said the regional expansion forms part of the group’s long-term vision to build a stronger pan-African presence while reducing its reliance on a single market.
“Going out into Africa and taking our brand beyond our borders is synonymous with what we believe that we can do,” she said.
She said expanding into new markets not only creates fresh growth opportunities but also enables the group to spread business risk across multiple economies, strengthening its resilience in an increasingly competitive operating environment.
In addition to geographic expansion, Mangwende said First Mutual is deliberately investing in the development of young leaders to ensure a strong leadership pipeline for the future.
She noted that several of the group’s strategic business units are already headed by executives under the age of 40, underscoring the company’s confidence in empowering young professionals to drive innovation and business growth.
“We’re not afraid of young talent. We love it,” Mangwende said, adding that the group’s health and microfinance businesses are among the divisions being led by younger executives.
She said First Mutual’s leadership philosophy centres on blending youthful energy and fresh ideas with the wisdom and experience of seasoned professionals.
“We’ve got a good mix of old and young. It’s really exciting that we’ve got new ideas and new ways of doing things as well,” she said.
