Old Mutual Zimbabwe
|Traded as||OML.zw on Zimbabwe Stock Exchange|
|Founded||May 17, 1845|
in South Africa
|Jonas Mushosho, (Group CEO in Zimbabwe)|
Johannes Gawaxab (Chairman)
Peter Moyo (Group CEO global)
|Products||Insurance, Banking, Savings and investment|
Number of employees
|Parent||Old Mutual plc|
|Subsidiaries||Old Mutual Life Assurance Company Zimbabwe Limited|
Old Mutual Limited is one of the largest insurances and financial services companies in Zimbabwe. It is a subsidiary of the South Africa headquartered Old Mutual Limited. Old Mutual Zimbabwe is listed on the Zimbabwe Stock Exchange.. The company started operating in 1895.
It has investments in various sectors of the economy including telecoms, banking, microfinance, insurance, asset management, retail, properties and real estates. The company was founded in 1845 in neighbouring South Africa and over the years it has expanded into various parts of the world including Zimbabwe. Since June 2018, Old Mutual is listed on the Johannesburg, London, Zimbabwean, Malawian and Namibian stock exchanges.
- 1 History
- 2 Businesses
- 2.1 CABS (Banking)
- 2.2 Old Mutual Life Assurance Company Zimbabwe Limited (Life Assurance)
- 2.3 Old Mutual Insurance Company (Short-term Insurance)
- 2.4 Three Anchor Investments (Private) Limited (Custodial Services)
- 2.5 Old Mutual Securities (Securities)
- 2.6 Old Mutual Property Zimbabwe (Real Estate)
- 2.7 Old Mutual Investment Group Zimbabwe (Asset Management and Unit Trusts)
- 3 Investments
- 4 References
The first Old Mutual office in Zimbabwe was opened in 1902. However, the company had been in operation as the first Old Mutual Policy was sold in 1895.
In June 2018, Old Mutual moved its primary listing from London to South Africa and relisted on the Zimbabwe Stock Exchange as a secondary listing.
Old Mutual Zimbabwe administers the largest building society in the country; Central Africa Building Society (CABS). A 100% owned subsidiary of Old Mutual Zimbabwe, CABS offers mortgage financing for housing as well as corporate and personal loans.
Old Mutual Life Assurance Company Zimbabwe Limited (Life Assurance)
The Group’s Life business is conducted principally by Old Mutual Life Assurance Company Zimbabwe Limited, which provides life, retirement, savings and funeral products to individuals and groups.
Old Mutual Insurance Company (Short-term Insurance)
Old Mutual Insurance Company (Omico) is a short-term insurance company in Zimbabwe. The company is a subsidiary of RM Insurance Holdings Company Limited (“RMIH”). Old Mutual Zimbabwe holds 50.67% of the issued shares in the capital of RMIH. The company was previously branded RM Insurance and was rebranded to Old Mutual Insurance Company in August 2014.
Three Anchor Investments (Private) Limited (Custodial Services)
Old Mutual Custodial Services (OMCUS) is a 100% wholly owned subsidiary of Old Mutual Zimbabwe Limited. The company offers a wide range of services to local institutions and individuals trading on the Zimbabwe Stock Exchange (ZSE) and the Money Market.
Old Mutual Securities (Securities)
Old Mutual Securities is a stockbroking firm which offers a wide range of services to investors including the buying and selling of shares, research and limited custodial services. OLd Mutual Zimbabwe Limited owns 70% of this company.
Old Mutual Property Zimbabwe (Real Estate)
Formerly Old Mutual Investment Group Property Investments Zimbabwe (Private) Limited. The company owns several shopping malls and buildings in Zimbabwe, including Eastgate Centre, Highglen Shopping Centre, Westgate Shopping Mall and Chitungwiza Town Center among others.
Old Mutual Investment Group Zimbabwe (Asset Management and Unit Trusts)
A 100%-owned licensed asset management and specialised investment company.
Nedbank Zimbabwe is a commercial bank in Zimbabwe. It is a subsidiary of the Nedbank Group headquartered South Africa, itself a subsidiary of Old Mutual Group. Old Mutual Zimbabwe owns 18.30%.