Old Mutual Malawi geared to help address Malawi’s social economic problems - Malawi 24

Old Mutual championing alternative investment agenda in Malawi –

Post was last updated: June 30, 2022

Old Mutual Malawi is championing the use of pension funds for long term and responsible investments, saying such an approach is a win for the pensioner as well as the economy and the society.

Speaking during a media workshop on alternative investments in Lilongwe on Tuesday, Old Mutual Investment Group Managing Director Mark Mikwamba said the company is aware that Malawi needs long term investment in key strategic areas such as agriculture, infrastructure and other sectors.

Mikwamba noted that in many countries around the world, pension funds have provided patient capital that is needed for long term responsible investments and he argued that the same can be done in Malawi.

Participants during the media training

“Responsible investment is simple : making the best return for our customers while contributing positively to the economy and society at large. For example, if we have to choose between two investments that are expected to give us the same return – we will go for the one that will create more jobs, the one that will support more communities. This approach is a win for the customers and a win for the economy as well,” he said.

At Old Mutual, some alternative investments have been made through Ulimi Fund which has invested in Gala Estate and Jacoma, macadamia nut producers.

The company also has Infrastructure Fund which has 20 percent shares in Malawi Towers Limited and which constructed a hostel at Kamuzu University of Healthy Sciences (Kuhes).

Old Mutual sponsors a MISA Malawi award called “Old Mutual Responsible Business Reporting Award” and this year the theme of the award is “Social Economic Impact of Pension in Malawi: A focus on Alternative Investments”.

Follow us on Twitter:

Source Link

Let us know what you think of this article and remember to add us on our facebook and follow us on our twitter. Come back daily for more Malawi business news.

Quick Links: Download Business eBooks | Ten Signs You Are An Entrepreneur | What is a Managing Director?