Difference between revisions of "Old Mutual Zimbabwe"

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[[File:OLD-MUTUAL.jpg|400px|thumb|left|Old Mutual Logo]]'''Old Mutual Limited''' is one of the biggest multinational companies in [[Zimbabwe]] listed on the [[Zimbabwe Stock Exchange]].<ref name="zse">, [http://www.zimbabwe-stock-exchange.com/listed-company/oml/ Old Mutual], "ZSE", retrieved:17 Jul 2014"</ref> Old Mutual Limited has investments in various sectors of the economy and these include banking, micro-finance, 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]].
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{{Infobox company
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| name            =  Old Mutual Limited Zimbabwe
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| logo            =  Old_Mutual_Logo_Large.png
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| type  =  [[Limited company]]
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| traded_as        = OML.zw on [[Zimbabwe Stock Exchange]]
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| foundation      =  {{start date and age|1845|05|17}}<br /> in South Africa
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| location        =  Harare
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| key_people      = [[Jonas Mushosho]], (Group CEO in Zimbabwe)<br />Johannes Gawaxab (Chairman) <br /> [[Peter Moyo]] (Group CEO global)
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| industry        = Financial service
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| products        = Insurance, Banking, Savings and investment
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| revenue          =
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| operating_income = 
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| net_income      = 
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| assets          =
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| num_employees    = 1,000+
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| parent          = Old Mutual plc
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| subsid          = Old Mutual Life Assurance Company Zimbabwe Limited<br>[[CABS]]<br> Omico<br> OMCUS<br>
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| homepage        = 
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| website          =  {{URL|www.oldmutual..co.zw}}
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| footnotes        =
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}}
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'''Old Mutual Limited''' is one of the largest insurances and financial services companies in [[Zimbabwe]]. It is a subsidiary of the South Africa headquartered [https://www.oldmutual.com/ Old Mutual Limited]. Old Mutual Zimbabwe is listed on the [[Zimbabwe Stock Exchange]].<ref name="zse">, [http://www.zimbabwe-stock-exchange.com/listed-company/oml/ Old Mutual], "ZSE", retrieved:17 Jul 2014"</ref>.  
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The company started operating in 1895.<ref name="finsec"> [http://www.finsec.co.zw/docs/VP18122 OM PRE-LISTING STATEMENT BOOKLET 30 11 16.pdf ],'' retrieved: 26 Jun 2018''</ref>
  
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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.
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==History==
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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.
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 +
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.
  
 
==Businesses==
 
==Businesses==
===Banking===
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===CABS (Banking)===
 
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.<ref name="zim">, [http://www.oldmutual.co.zw Old Mutual], "Old Mutual Limited", retrieved:17 Jul 2014"</ref>
 
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.<ref name="zim">, [http://www.oldmutual.co.zw Old Mutual], "Old Mutual Limited", retrieved:17 Jul 2014"</ref>
  
===Insurance==
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===Old Mutual Life Assurance Company Zimbabwe Limited (Life Assurance)===
Old Mutual's short-term insurance business is conducted principally by RM Insurance. RM Insurance is a member of the Old Mutual Group and is one of the largest short-term insurance companies in Zimbabwe. It provides insurance solutions to the public and to commercial, industrial and corporate entities.<ref name="zim"/>
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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.<ref name="zim"/>
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===Old Mutual Insurance Company (Short-term Insurance)===
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[[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.<ref name="zim"/> The company was previously branded RM Insurance and was rebranded to Old Mutual Insurance Company in August 2014.<ref> [http://www.oldmutual.co.zw/news/newsdetail/2014/12/02/rm-insurance-rebrands RM Insurance rebrands],'' retrieved: 26 Jun 2018''</ref>
  
===Custodial Services===
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===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.<ref name="zim"/>
 
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.<ref name="zim"/>
  
===Securities===
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===Old Mutual Securities (Securities)===
The company has also a securities subsidiary. Old Mutual Securities offers a wide range of services to investors including the buying and selling of shares, research and limited custodial services.<ref name="zim"/>
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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.<ref name="finsec" />
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===Old Mutual Property Zimbabwe (Real Estate)===
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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.
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===Old Mutual Investment Group Zimbabwe (Asset Management and Unit Trusts)===
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A 100%-owned licensed asset management and specialised investment company.
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[[File:Old Mutual OMZIL Structure of Companies-med.png|thumb|OMZIL Structure of Companies - Organogram]]
  
===Life Assurance===
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==Investments==
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.<ref name="zim"/>
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===Nedbank (Banking)===
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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%.  
  
==Management==
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===Econet Wireless Zimbabwe===
Old Mutual Zimbabwe is administered by its Chief Executive Officer [[Jonas Mushosho]]. Mushosho is deputised by [[Kevin Terry]] as the deputy CEO. [[Kevin Terry]] is also the Managing Director of CABS the banking subsidiary of Old Mutual Limited.<ref name="herald">, [http://www.herald.co.zw/old-mutual-opens-one-stop-shop/ Old Mutual opens one-stop shop], "The Herald", published:23 Oct 2013,retrieved:17 Jul 2014"</ref>  
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[[Econet Wireless Zimbabwe]] is a telecoms, media and technology company in Zimbabwe. Old Mutual currently has 8.75% shareholding in the company.<ref> [http://www.efesecurities.com/company/ECONET/#tab1 EFE Securities Zimbabwe - ECONET],'' retrieved: 26 Jun 2018''</ref>
  
 
==References==
 
==References==
<references/>
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<references />
  
[[Category: Zimbabwean Companies]]
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[[Category: Companies]]
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[[Category: Financial Services Companies]]
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[[Category: Insurance Companies]]

Latest revision as of 16:17, 27 June 2018

Old Mutual Limited Zimbabwe
Type
Limited company
Traded asOML.zw on Zimbabwe Stock Exchange
IndustryFinancial service
FoundedMay 17, 1845; 177 years ago (1845-05-17)
in South Africa
HeadquartersHarare
Key people
Jonas Mushosho, (Group CEO in Zimbabwe)
Johannes Gawaxab (Chairman)
Peter Moyo (Group CEO global)
ProductsInsurance, Banking, Savings and investment
Number of employees
1,000+
ParentOld Mutual plc
SubsidiariesOld Mutual Life Assurance Company Zimbabwe Limited
CABS
Omico
OMCUS

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.[1]. The company started operating in 1895.[2]

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.

History

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.

Businesses

CABS (Banking)

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.[3]

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.[3]

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.[3] The company was previously branded RM Insurance and was rebranded to Old Mutual Insurance Company in August 2014.[4]

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.[3]

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.[2]

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.

OMZIL Structure of Companies - Organogram

Investments

Nedbank (Banking)

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%.

Econet Wireless Zimbabwe

Econet Wireless Zimbabwe is a telecoms, media and technology company in Zimbabwe. Old Mutual currently has 8.75% shareholding in the company.[5]

References

  1. , Old Mutual, "ZSE", retrieved:17 Jul 2014"
  2. 2.0 2.1 OM PRE-LISTING STATEMENT BOOKLET 30 11 16.pdf , retrieved: 26 Jun 2018
  3. 3.0 3.1 3.2 3.3 , Old Mutual, "Old Mutual Limited", retrieved:17 Jul 2014"
  4. RM Insurance rebrands, retrieved: 26 Jun 2018
  5. EFE Securities Zimbabwe - ECONET, retrieved: 26 Jun 2018