Old Mutual Limited Group Chief Executive Officer, Jurie Strydom, arrived in Zimbabwe this week on a high-profile visit that included meetings with President Emmerson Mnangagwa, the Reserve Bank of Zimbabwe (RBZ), the Zimbabwe Stock Exchange (ZSE), and other key stakeholders.
Speaking during his visit, Strydom said Zimbabwe was the first country he had chosen to visit since assuming office as the head of the Old Mutual Group in June this year.
“I’m delighted to be here and for us to have this opportunity with the team in Zimbabwe. I became Chief Executive of the Old Mutual Group in June this year, and Zimbabwe is the first country that I’m visiting,” he said.
Strydom described the trip as both strategic and fact-finding, aimed at strengthening ties with major partners and understanding developments within the local economy.
“It’s been a busy visit. We’ve met a number of stakeholders and were very grateful to be given some time by His Excellency the President this morning. We also visited the Reserve Bank and the Stock Exchange—both important stakeholders in our business—and were able to interact with clients,” he explained.
The CEO said the trip reflected Old Mutual’s long-term confidence in the Zimbabwean market.
“It’s important for any group CEO to come and understand the markets in which we operate. I’ve been to Zimbabwe before, but this visit was to get up to speed with the latest developments. It’s been very fruitful, and I think it’s a testimony to the confidence that Old Mutual has in our business and in our future in Zimbabwe,” Strydom said.
Courtesy Visit to President Mnangagwa
Strydom confirmed that his engagement with President Mnangagwa was a courtesy call that focused on the country’s economic outlook and investment priorities.
“It was a courtesy visit, and the President was very gracious to accommodate us. We spoke about a number of things. We are very appreciative of the encouraging macroeconomic stability that we’re seeing in Zimbabwe. We are also very much engaged with the strategic priorities set out in the National Development Strategy, and we wait with eagerness to see the next strategy that will be unveiled shortly,” he said.
Strydom added that Old Mutual remains a significant investor in Zimbabwe through direct investments and client portfolios across several sectors, including renewable energy, infrastructure, student housing, and the hospitality industry.
Long-Term Commitment to Africa
The CEO reaffirmed Old Mutual’s commitment to sustainable growth across the African continent.
“Old Mutual is a pan-African business that operates across life insurance, general insurance, asset management, and banking. Our vision is to harness the potential in the continent across the markets we operate. We see exciting opportunities for growth across all of those sectors,” he said.
“Of course, these opportunities vary by country and circumstance—you’ve got to navigate challenges as you go. But Old Mutual has deep roots on the continent, so we take a long-term view on growth and opportunity.”
Policy Stability Key for Investment
Old Mutual Zimbabwe Group CEO Samuel Matsekete echoed similar sentiments, calling for policy stability and formalisation of the economy to enhance Zimbabwe’s attractiveness to institutional investors.
“In terms of policies, we would promote stability. We’ve spoken about balancing stability with growth. We would also like to see long-term savings supported and promote formalisation,” Matsekete said.
“The theme of formalisation bodes well for an enhanced role of financial services. It’s not an overnight exercise and it requires both private and public sector efforts to bring the informal sector into the mainstream. Supportive policies would also help ensure inclusion within formal channels and investment platforms.”
Regulatory Predictability Essential
Old Mutual Zimbabwe Board Chairman Constantine Chikosi highlighted the importance of regulatory predictability and streamlined licensing processes in improving the investment climate.
“Predictability of policies and regulatory frameworks is critical. Where you don’t have predictability, the cost of capital rises. Streamlining the business licensing framework is also key,” he said.
“This is an initiative the government has started, and we support and encourage it because it reduces the cost and time required to comply with regulatory requirements.”
Strydom’s visit underscores Old Mutual’s ongoing commitment to Zimbabwe’s economic development and signals renewed investor confidence amid the country’s ongoing reforms and efforts to strengthen macroeconomic stability.
