Old Mutual eyes loan book growth, digital expansion in H2
SAMANTHA MADE
Old Mutual Zimbabwe Limited is positioning itself for robust growth in the second half of 2025, focusing on deposits mobilisation, strategic credit lines, and expanded digital services, Business Times can report.
“The business remains well positioned to tap into the opportunities anchored in digital transformation, customer-centric innovation, organizational agility and long-term sustainability,” Sam Matsekete, the Old Mutual Zimbabwe Group CEO, said.
“We are focused on driving deposits mobilisation and accessing credit lines to support loan book growth targeting key economic sectors,” Matsekete added.
The group reported a 31% growth in its loan book in the first half of the year, which drove net interest income up by 57%, while establishing US$38.5 m in new facilities for on-lending to key economic sectors.
The company also noted that it has maintained its regional and international credit line facilities.
In a bid to strengthen its digital footprint, Matsekete said the group plans to complete the upgrade of its core banking system and pensions administration system to drive efficiencies and enhance customer experience.
“Embed the internet banking platform and expand our digital footprint by enhancing product accessibility and user experience. Scale up the fintech through wider product offering and distribution,” he said.
Old Mutual Zimbabwe is also targeting under-served segments, with Matsekete noting: “Continue to adopt the product suite and enhance the value proposition for under-served segments, women, the youth and SMEs. Launch new thematic funds to address evolving customer needs.”
The group aims to expand its agent network and enhance visibility in the funeral services sector. “Driving greater visibility and customer access in the funeral services sector through strategic partnerships and an expanded agent network. Growing new business and retention in general insurance through strengthened distribution partnerships and elevated service delivery across customer touchpoints and service centres,” Matsekete said.
The group is also progressing on strategic investments, including continued deployment in its US$100 m Renewable Energy Fund, exploring public-private partnerships, and delivering property projects such as Phase One of the Prospect housing project and The Grange.
With these initiatives, Old Mutual Zimbabwe is signalling a comprehensive strategy aimed at driving growth, innovation, and inclusion across key economic sectors while maintaining financial resilience.
