Old Mutual commits to Mat’land development projects

Business Reporter

INTEGRATED financial services group, Old Mutual, has expressed commitment to driving investments that promote development of Matabeleland region such as housing, drilling solar-powered boreholes at learning institutions and health centres as well as rolling out financial literacy awareness programmes. 

Speaking at the launch of a fully-fledged funeral services business in Bulawayo on Thursday, Old Mutual chief executive officer, Mr Sam Matekete, said their group has recently extended investments in providing constant water supply to young learners and innovators through projects in schools and clinics.

“Over the years, we have been committed to Bulawayo and we will continue to dedicate resources to uplift communities here.

“We have extended investments to providing a constant supply of water to our young learners and innovators through solar boreholes at Luveve High School, Mzilikazi High School and Mpopoma High School,” he said.

Solar boreholes have also been installed at Maphisa and Tsholotsho District Hospitals and this is to ensure availability of water, which is critical for all health facilities. 

Mr Matekete said over the years, the company has committed resources to Bulawayo and the rest of the southern part of the country and in Bulawayo the projects include construction of houses.

“Last year we launched one of the first solar projects, a five megawatt project in Hwange, the Solgas projects and several are also happening in the region and we will be coming back to launch more,” said Mr Matekete.

President Mnangagwa officially commissioned the US$7,3 million SolGas Energy 5MW solar power plant at Cross Mabale in Hwange District and called on the private sector and diasporans to partner the Government in infrastructural development.

The solar plant now feeds 5MW of clean renewable energy into the national grid.

Mr Matekete said Old Mutual has also embarked on financial literacy initiatives for communities which he said were crucial in fostering inclusive development.

“Under the financial education agenda, we have been rolling out programmes that include the ‘piggy bank’ for children and financial literacy programmes for youths and adults,” he said.

Mr Matekete said the company will continue to honour its commitment to provide financial education to communities.

The Old Mutual brand has a long history of service in Africa and Zimbabwe in particular.

Mr Matekete said the launch of the funeral services was in response to client demand for a range of tangible funeral services that are over and above the cash benefit offered by Old Mutual.

“This new service offering is an opportunity to give our customers end-to-end financial services of the best standards the world over. It’s undeniable that the Zimbabwe funeral business is booming and as such it offers us another opportunity to drive financial inclusion through the provision of services that directly impact livelihoods across the board,”he said.