OLD MUTUAL ZIMBABWE has said it will continue to look at sectors that support sustainability, such as renewable energy, as part of its responsible investment strategy.
\nAdditionally, the group will drive deposit mobilisation and access credit lines to support loan book growth targeting key economic sectors.
\nDuring a half-year analyst briefing last week for the period ending June 30, 2025, Old Mutual Zimbabwe group chief executive officer Mr Samuel Matsekete said the group would continue deployments in the US$100 million Renewable Energy Fund and explore new public-private partnerships in areas of mutual interest.
\n\u201cWe believe sustainability must be a way of doing business, and we would wish that in all our interactions with customers and stakeholders, we would see things similarly and look at sustainability through a number of lenses,\u201d he said.
\nMr Matsekete said, in addition to other interventions, the group had invested in green energy for its own consumption at its premises.
\nHe noted that the group would continue to adapt its product suite and enhance its value proposition for underserved segments, including women, the youth, and small and medium enterprises (SMEs).
\nMr Matsekete said the company would launch new thematic funds to address evolving customer needs.
\n\u201cDriving greater visibility and customer access in the funeral services sector through strategic partnerships and an expanded agent network will be prioritised,\u201d he said.
\n\u201cGrowing new business and retention in general insurance through strengthened distribution partnerships and elevated service delivery across customer touch points and service centres will also be key focus areas during the second half of the year.\u201d
\nHe said the group increased lending to the growing SME sector, supporting 837 SMEs, and that 20 percent of the total loan book was allocated to food security initiatives within the agriculture sector.
\n\u201cThese are some of the areas we continue to focus on to ensure that we are also playing a part in our humble ways to support the sustainability outcomes that we would like to see in the wider economy,\u201d he said.
\nAnother area, according to Mr Matsekete, is financial wellness.
\nThe group\u2019s financial education reached 18 000 individuals through face-to-face engagements and over 1,3 million via digital channels.
\n\u201cWe believe, as a financial services operator, one of our responsibilities is to ensure the right practices in how customers make choices and decisions to buy our products or just to make financial decisions. Therefore, financial education is an anchor programme in this space,\u201d he said.
\nDuring the period under review, the group\u2019s Life Insurance Business revenue grew by 80 percent, driven by growth in new pension contributions.
\nThe unit paid claims totalling ZiG609 million and US$7,5 million, demonstrating the group\u2019s continued commitment to meeting policyholder obligations across currencies.
\nThe group\u2019s banking unit, CABS, achieved a 44 percent rise in deposits, driven by growth in customer wallet share and strong performance in key economic sectors.
\nMr Matsekete said the 31 percent rise in the loan book drove growth in net interest income by 57 percent.
\n\u201cThe quality of the loan book continued to be very strong, and we closed the half-year period with a non-performing loan ratio of 0.9 percent, better than the prior year\u2019s 1.5 percent, remaining within target,\u201d he said.
\nMr Matsekete added that the group continued to focus on service enhancements and has remodelled its branches and expanded its ATM network to support the demand for cash in the market.
\n\u201cWe will also maintain a very strong book of international credit line facilities, and over the period under review, we established just under US$38,5 million of new facilities for our own lending to key productive sectors,\u201d he said.
\nThe bank\u2019s loans and advances grew by 31 percent to US$255,3 million, compared to US$195,1 million in 2024, mainly from an increase in the foreign currency lending book to key sectors.
\nhttps:\/\/www.heraldonline.co.zw\/financial-services-group-focuses-on-sustainability-financial-inclusion\/?from=sundaymail<\/p>\n","protected":false},"excerpt":{"rendered":"
OLD MUTUAL ZIMBABWE has said it will continue to look at sectors that support sustainability, such as renewable energy, as part of its responsible investment strategy. Additionally, the group will drive deposit mobilisation and access credit lines to support loan book growth targeting key economic sectors. During a half-year analyst briefing last week for the […]<\/p>\n","protected":false},"author":1,"featured_media":2884,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mi_skip_tracking":false,"footnotes":""},"categories":[15],"tags":[],"class_list":["post-3171","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-updates"],"_links":{"self":[{"href":"https:\/\/ctrade.co.zw\/index.php?rest_route=\/wp\/v2\/posts\/3171","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ctrade.co.zw\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ctrade.co.zw\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ctrade.co.zw\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/ctrade.co.zw\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=3171"}],"version-history":[{"count":1,"href":"https:\/\/ctrade.co.zw\/index.php?rest_route=\/wp\/v2\/posts\/3171\/revisions"}],"predecessor-version":[{"id":3172,"href":"https:\/\/ctrade.co.zw\/index.php?rest_route=\/wp\/v2\/posts\/3171\/revisions\/3172"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ctrade.co.zw\/index.php?rest_route=\/wp\/v2\/media\/2884"}],"wp:attachment":[{"href":"https:\/\/ctrade.co.zw\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=3171"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ctrade.co.zw\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=3171"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ctrade.co.zw\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=3171"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}