Old Mutual Zimbabwe CEO Calls for Sustainability as Path to a Stronger Future

Old Mutual Group Chief Executive Officer Sam Matsekete
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Harare – Old Mutual Zimbabwe (OMZ) Group CEO Sam Matsekete emphasised that partnerships between the private sector and government are essential to achieving sustainable development, during OMZ’s “Better Future Summit” in Harare yesterday.

He highlighted that sustainability-focused efforts are the quickest route to a more prosperous future, with private-sector initiatives playing a critical role.

OMZ, a major financial services provider and investor in Zimbabwe, has been actively engaged in dialogues with policymakers to promote economic growth and financial inclusion. According to the group’s half-year report ending June 30, 2024, OMZ has ongoing discussions with authorities to help shape policies that support growth and stability in the financial services sector.

“Our mission is to sustain growth and protect prosperity for our customers. Sustainability and sustainable development are the shortest ways to achieve better futures,” Matsekete stated at the summit. “By embedding sustainability into our core decisions and priorities, we believe we’re delivering the best value to our clients, customers, and communities around us.”

OMZ has committed to reinforcing its product offerings and expanding access to financial services across underserved markets, as part of its sustainability-focused growth strategy. A recent example of this commitment is the launch of the Old Mutual Renewable Energy Fund, an initiative aimed at boosting renewable energy investments in Zimbabwe, in partnership with the Zimbabwean government and UN agencies.

Matsekete noted that the Renewable Energy Fund is seeking to raise $100 million, with an initial $20 million already allocated to solar and hydro projects. “We encourage all private sector players who value sustainability beyond financial returns to support the fund. These investments align with Zimbabwe’s Sustainable Development Goals, particularly SDG 7 for affordable and clean energy, SDG 9 for industry and infrastructure, and SDG 11 for sustainable cities,” he said.

The Renewable Energy Fund aims to provide both financial and social impact benefits, creating opportunities within the renewable energy sector. Matsekete added that OMZ is also investing in technology, optimising service channels, and introducing new products to provide customers with flexible, integrated financial solutions.

OMZ’s commitment to sustainability is reflected in its continuous efforts to support long-term economic, environmental, and social well-being across Zimbabwe, aligning its business practices with national development priorities.

Source: News Day