Zimbabwe's financial landscape has seen a surge in new investment options and innovative instruments. The launch of the Victoria Falls Stock Exchange (VFEX) in 2020 kick-started the operationalization of the Victoria Falls Special Economic Zone. The VFEX has witnessed various listings, including debt instruments, secondary listings, and depository receipts. In 2022, the Zimbabwe Stock Exchange (ZSE) launched exchange-traded funds (ETFs) to broaden investment choices. The first real estate investment trust (REIT) was listed on the ZSE in October 2022. The Insurance and Pensions Commission (IPEC) highlighted how REITs could address the valuation challenge faced by Zimbabwean pension funds. Investment managers and analysts commend the government for enabling the deepening and widening of the markets. The lack of a vibrant bond market in the country handicaps local insurers and pension funds. The central bank launched gold coins in July 2022 to curb inflation. The residential sector is performing well in the Zimbabwe real estate market, driven by demand from the diaspora and foreign buyers. The Zimbabwe Mercantile Exchange (ZMX) was launched in August 2021 to empower farmers and improve transparency in the agriculture sector. The advancements in Zimbabwe's financial markets signify a diversification of investment avenues and reflect efforts to bolster the economy and attract foreign direct investment.
Old Mutual Zimbabwe (OMZIL) emphasizes the importance of long-term savings in supporting sustainable economic growth and development. Group CEO Samuel Matsekete highlights the need to improve confidence in long-term savings and involve regulators, policymakers, and financial services sector players. OMZIL focuses on financial education and aims to enhance financial literacy levels in the country. The group supports startups and small enterprises through the Eight2 Five Innovation Hub. OMZIL strengthens its core businesses, such as banking, general insurance, and microfinance, and diversifies its investment portfolio. The group's profit before tax increases by 140% in inflation-adjusted terms, and funds grow by 98% to $5.2 trillion. US dollar transactions rise, contributing to better predictability for businesses. The group continues to invest in alternative assets, including renewable energy initiatives. OMZIL expands its retail distribution and achieves strong occupancy rates in the property boutique. The group commissions a factory in Ngezi to support sustainable growth in the mining value chain.
According to a recent article by The Zimbabwe Mail, Old Mutual Zimbabwe (OMZIL) emphasizes the importance of long-term savings in driving sustainable economic growth and development. Group CEO Samuel Matsekete highlights that long-term savings provide the necessary finance for critical infrastructure projects. OMZIL aims to improve confidence in long-term savings by involving regulators, policymakers, and financial services sector players. The group also focuses on financial education and increasing financial literacy levels in the wider economy. OMZIL has reached nearly 20,000 individuals through face-to-face interventions and is committed to enhancing financial literacy. The group supports startups, innovations, and small enterprises through the Eight2 Five Innovation Hub. OMZIL strengthens its core businesses, such as banking, general insurance, and microfinance, and diversifies its investment portfolio to include sectors like exports, agro-exports, and value chains that generate foreign currency. The group also invests in alternative assets, including renewable energy initiatives. Inflation-adjusted profit before tax for OMZIL increased by 140% in the year under review. The group's total assets grew by 91% in US dollar terms, reflecting the dollarization of the economy. OMZIL continues to focus on innovation and following developments in the landscape to support sustainable growth. [e7962cb3] [3caaf370]