Old Mutual Zimbabwe rolls out fintech service O’mari



Zimbabwe’s largest financial services group, Old Mutual Zimbabwe, has made forays into mobile money services and insurtech solutions, among many other disruptive solutions, after it launched a fintech business this week.

The business will be trading as O’mari.

The fintech business will be under Old Mutual Digital Services. Arthur Matsaudza has since been appointed the managing director of O’mari.

O’mari will provide mobile money services, insurtech, investech, digital lending, e-commerce, payments, and digital products and services for the retail mass market.

The unveiling of O’mari, analysts told Business Times, has heightened competition in the fintech space, which is currently dominated by Ecocash.

Speaking at the launch of O’mari in the capital Harare this week, Old Mutual Zimbabwe Limited Group CEO Sam Matsekete said: “We are pleased to launch O’mari into the market, a business that will extend innovative integrated financial solutions and to promote financial inclusion, everywhere in Zimbabwe. The solutions we are introducing to the market are customer first solutions that are meant to sustain, grow and protect our customers.”

Matsaudza said: “The insurtech and nano lending solutions that we have launched in addition to the wallet consider the everyday needs of our customers. We have designed solutions that are simplified, affordable and accessible, solutions that drive real social impact.”

Products launched included the O’mari mobile wallet, O’mari FoodCare, O’mari SchoolCare and O’mari HealthCare, micro insurance solutions that are underwritten by Old Mutual Zimbabwe Life Assurance Company.

The mobile wallet is an interoperable mobile money solution that allows customers to register on all three mobile networks in Zimbabwe, namely Econet, NetOne and Telecel.

The O’mari mobile wallet is a dual currency wallet that allows customers to transact in both US$ and ZWL$.

O’mari customers are also able to send money to any bank or mobile wallet, buy airtime for any network, make merchant and bill payments for billers such as Old Mutual, ZESA, TelOne, Liquid Home and many others.

Related Articles

Leave a Reply

Back to top button