The government has made some confusing and vague remarks concerning Old Mutual in recent days. The entity is being blamed for causing inflation and sabotaging the economy although the government has not provided sensible evidence as to how this lone entity achieved such a magnanimous feat. Alarmed by the speculation this has generated, Old Mutual has issued a (vague) statement of their own on the matter.

Old Mutual Statement to Customers

12 July 2020

We have noted reports in the media relating to the Old Mutual Group. We are working with all relevant stakeholders to seek clarity on the matter.

In line with the Group’s Responsible Business Policy, Old Mutual has and will always continue to comply with all regulations and legislation within the countries where it operates. As a part of the community, Old Mutual remains committed to serving its customers and to contributing to the development and growth of the economy.

We appreciate the support we get from our customers, our partners, the government and other stakeholders in industry.

We advise you that all our services and operations are continuing to run as normal. Old Mutual Zimbabwe Limited and its business units, including CABS, continue to be financially stable and sound. We will ensure to continue to update you of any significant developments on our official company platforms.

Old Mutual

The statement is obviously calibrated to not anger the authorities while being a calming influence on the company’s stakeholders.