Speaking during a media workshop on alternative investments in Lilongwe on Tuesday, Old Mutual Investment Group Managing Director Mark Mikwamba said the company is aware that Malawi needs long term investment in key strategic areas such as agriculture, infrastructure and other sectors.
Mikwamba noted that in many countries around the world, pension funds have provided patient capital that is needed for long term responsible investments and he argued that the same can be done in Malawi.
“Responsible investment is simple : making the best return for our customers while contributing positively to the economy and society at large. For example, if we have to choose between two investments that are expected to give us the same return – we will go for the one that will create more jobs, the one that will support more communities. This approach is a win for the customers and a win for the economy as well,” he said.
At Old Mutual, some alternative investments have been made through Ulimi Fund which has invested in Gala Estate and Jacoma, macadamia nut producers.
The company also has Infrastructure Fund which has 20 percent shares in Malawi Towers Limited and which constructed a hostel at Kamuzu University of Healthy Sciences (Kuhes).
Old Mutual sponsors a MISA Malawi award called “Old Mutual Responsible Business Reporting Award” and this year the theme of the award is “Social Economic Impact of Pension in Malawi: A focus on Alternative Investments”.
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