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Old Mutual to build low-cost housing in Zim

Oct 31 2014 09:44
Malcom Sharara, Fin24’s correspondent in Zimbabwe
Harare - Old Mutual [JSE:OML] held its Old Mutual Emerging Markets board meeting in Harare on Wednesday, with chief executive Julian Roberts saying Zimbabwe operations remain key to the group.

Roberts, who was in Zimbabwe for the very first time, said Zimbabwe operations remain key to the group’s growth strategy as the country possesses a rich human resource base.

He said the group aims to push its objective of being known as a financial services champion through growth of an African-based emerging markets business.

Old Mutual chief operating officer Paul Hanratty said the group would retain its role on mobilisation of capital and savings. “We will continue in the mobilisation of capital and savings and deploying it as best as we can.”

To meet these goals, Old Mutual Zimbabwe intends to build at least 15 000 low-cost housing units in the next five years under its housing fund run by subsidiary CABS.

 - Fin24

old mutual  |  zimbabwe  |  africa economy
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