Old Mutual Malawi limited says it is committed to playing a leading role in addressing some of the social economic problems facing the country through its member company Old Mutual Alternative Investment Group (OMIG).
This has been said by OMIG Managing Director Mark Mikwamba who among others said the company is interested to invest in three thematic sectors which include Agriculture, Infrastructure and private equity.
According to Mikwamba the company has set up a structure that directly respond to the needs of the economy.
“We have a fund specifically focusing on agriculture that will embrace the whole agriculture value chain, energy or other infrastructure needs and private equity where We are trying to see how best we can structure financial inclusion and have an impact in terms of the retail sector of the economy” he said.
Mikwamba also expressed satisfaction with the response from clients from the time Old Mutual Alternative Investment was launched on 24 March 2022 saying the response has been very good exceeding the company’s expectations.
“We already have commitments from clients in each of the respective areas of investments we are looking for. We have a very good pipeline of investments. So, I think we are very excited, the returns that we are expecting are very competitive and that clients which are largely pension funds can actually reflect in the future and say we did investments and we benefited from those investments” he said.
Going further, Mikwamba said people should expect Old Mutual Malawi limited through OMIG to do its part in the economy addressing social economic issues as a responsible business.
So far, OMIG has constructed hostels at the Kamuzu University of Health Sciences and has made significant investment through its Ulimi fund into Gala Agriculture Company which is running Macadamia nut plantation in the country that operates 12 farming estates in the outskirts of Lilongwe.
These investments are said to be significantly helping to improve the wellbeing of surrounding people through job opportunities hence directly impacting the economy.
