Published: 06 October 2013

Old Mutual Zimbabwe will start trading 25% of its shares worth over $100 million under the indigenisation and economic empowerment programme from Monday the 7th of this month.

The insurance group is now distributing the cake to indigenous Zimbabweans by offering 83 million shares which is 25 percent of its shareholding to individuals.

Briefing investors in the capital, Old Mutual Group Finance Director Isaiah Mashinya said the shares will be traded over the counter platform where only approved potential investors will participate.

Old Mutual Group Chief Executive Officer Jonas Mushosho said this follows the approval of the indigenisation strategy last year and this is part of the on-going indigenisation and empowerment programme.

Old Mutual has been playing a pivotal role in the transformation of the economy which has seen $23 million being disbursed under the Distressed and Marginalised Areas Fund with 67 percent having being directed towards firms based in Bulawayo.
- zbc

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