Old Mutual flagship pension investment vehicle ‘The Guaranteed Fund’ has declared 11 percent bonus for the year 2021. This is above inflation that averaged 9.3%.
We therefore apologize and retract our earlier post that indicated that Old Mutual had made a profit of MK389.8 billion. The fact is that the MK389.8 were assets under management as at 31st December 2021. The misrepresentation is regretted due to the impact it has had.
In an interview, MIJ Online Old Mutual Pension Services company General Manager Tawonga Manda said it is exciting that the Guaranteed fund, has an above inflation bonus despite the tough economic operating environment.
Manda said this is an assurance that the Guaranteed Fund is a fund that can meet the needs of customers at any times.
The Old Mutual Group has operated in Malawi since the late 1930’s when sales were being done through the Old Mutual office in Salisbury (now Harare).
Old Mutual opened its first office in Malawi in 1954, which operated as a mutual life insurance company until 1999 when the Old Mutual Group demutualized.
Old Mutual significantly contributes to improving the lives of people and their communities while ensuring a sustainable future for businesses.
The company has operations in 14 countries across two regions: Africa South Africa, Namibia, Botswana, Zimbabwe, Kenya, Malawi, Tanzania, Nigeria, Ghana, Uganda, Rwanda, South Sudan and Eswatini) and Asia (China).