Old Mutual targets farmers at ZAS

Oliver Kazunga-Senior Business Reporter

ZIMBABWE’S largest consolidated financial group, Old Mutual, is offering financial literacy to farmers at the Zimbabwe Agricultural Show as part of its empowerment drive.

The 114th edition of the show is running under the theme “Cultivating Prosperity. Growing Business.

Innovation for Change. Nurturing our Future,” and a critical component of this year’s event is the financial literacy training session hosted by Old Mutual.

While agriculture is the backbone of Zimbabwe’s economy, contributing significantly to the country’s Gross Domestic Product, exports, and employment—Old Mutual has noted that financial literacy remains a challenge for many farmers.

Against this background, the financial group, through its “On the Money” programme, has stepped in to equip the farmers with the knowledge and skills to better manage their finances.

“Financial literacy is essential for farmers to improve their financial management, access resources, make informed decisions, and build sustainable agricultural businesses,” said Old Mutual Zimbabwe group marketing, public affairs, and sustainability executive Ms Lillian Mbayiwa.

“By empowering farmers with these capabilities, we can enhance their overall financial well-being and the success of their farming operations.”

The “On the Money” programme takes a unique approach, drawing parallels between the behaviours of Africa’s “Big Five” animals, the lion, leopard, elephant, rhino, and buffalo and key financial principles.

“This innovative framework makes complex financial concepts more relatable and memorable for our participants,” said Ms Mbayiwa.

“As a responsible corporate citizen, we recognize the vital role that agriculture plays in Zimbabwe’s economy.

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“By investing in the financial literacy of our farmers, we are not only supporting individual businesses but also contributing to the long-term prosperity and sustainability of the entire sector.”

Under the programme, participants learn how to create budgets, track income and expenses, and make informed decisions about investments.

Farmers are also learning about various risk mitigation strategies, such as insurance and hedging, to protect their businesses from unforeseen events.

The training will enable farmers to set goals, create savings plans, and make investments that will benefit them and their families in the future, such as retirement planning or succession planning.