Old Mutual injects US$170m into strategic sectors
LIVINGSTONE MARUFU
Old Mutual Zimbabwe has injected US$170m into agriculture, mining and other strategic sectors this year as the financial services giant deepens its support for Zimbabwe’s economic growth and national development agenda.
The investments underscore the group’s long-term commitment to driving sustainable growth and supporting the country’s transformation agenda.
“Since the start of the year, we have extended about US$80m to mining, involving major gold and chrome operations, while a further US$90m has been deployed into agriculture,” Old Mutual said.
The group added that it is exploring new ways to strengthen collaboration with government and industry to accelerate economic development.
The investments are expected to align with the objectives of the National Development Strategy 2 (NDS2), which seeks to drive industrialisation, value addition and inclusive economic growth.
Old Mutual’s local investment portfolio spans critical sectors of the economy, including agriculture, mining value chains, infrastructure for small and medium enterprises, and distribution networks.
The company noted that it now accounts for nearly two-thirds of the electricity generated by independent power producers (IPPs) in Zimbabwe, highlighting its growing role in supporting the country’s energy security.
Old Mutual said it was encouraged by the prevailing macroeconomic stability and reaffirmed its commitment to contributing to Zimbabwe’s development agenda.
Over the years, the group has established itself as one of Zimbabwe’s most influential institutional investors, with a diversified portfolio covering financial services, insurance, property and infrastructure.
Through its property and infrastructure investments, Old Mutual has financed several landmark developments, including Eastgate Market in Harare, Arundel Office Park and a number of renewable energy initiatives under its Green Energy Fund.
The company has also played a key role in supporting agriculture through financing facilities for farmers and investments across agro-processing value chains.
