daniel chigunwe
Business Writer
Old Mutual Limited, a Zimbabwe Stock Exchange (ZSE) dual listed insurer and one of Africa’s largest financial institutions, announced last week that Casper Troskie, its chief financial officer (CFO), has agreed to extend his tenure until April 2027.
This decision comes after Troskie had initially agreed in November last year to extend his contract to the end of April 2025, following his normal retirement age of 60 in April 2024.
In a statement, the company noted: “The Old Mutual Limited Board is pleased to announce that, in the interest of continuity and to assist with the execution of various key strategic projects underway, Casper Troskie will remain CFO until April 2027.”
Troskie, who has been instrumental in guiding Old Mutual’s financial strategy since 2018, is also overseeing a period of significant expansion and innovation for the company.
Before joining Old Mutual, he served as group finance director at Liberty Holdings for seven years, where he led the company through a series of organisational changes.
His experience and leadership have been critical to Old Mutual’s growth initiatives, particularly as the company diversifies its offerings.
One of Old Mutual’s more recent ventures is its entry into the mobile telecommunications space. Drawing on the business model of Mobile Virtual Network Operators (MVNOs), Old Mutual has begun marketing mobile phone packages under its own brand name.
The insurer avoids the heavy infrastructure investment needed to build a network, instead opting to purchase access to the services and equipment of established mobile network operators in South Africa. Old Mutual now offers SIM cards, which can be purchased from its offices, adding a new layer of customer engagement to its suite of financial products.
Additionally, Old Mutual plans to launch South Africa’s newest bank in the first quarter of next year, a move that will further intensify competition in a market where 85 percent of residents already have accounts with other lenders.
With a budget of R1,75 billion initially allocated to develop the bank’s core functions, the board has approved an additional R800 million to finalise the project and ensure a successful launch.
As Old Mutual prepares to enter the banking sector and expand its mobile services, Troskie’s extended tenure will provide stability and continuity, ensuring the successful execution of these and other strategic initiatives.
The company’s focus on growth and innovation reflects its commitment to adapting to changing market dynamics while continuing to deliver value to shareholders and customers alike.
Bongani Ndlovu