Old Mutual Malawi, one of the leading insurance companies in the country on Wednesday trained Business Journalists in Blantyre on Alternative investments that the company has ventured in recently.
Alternative investment is a platform where the company is opening up investments to other areas other than Insurance, Capital Market and Share Markets.
Through this initiative, the company has ventured into Old Mutual Ulimi Fund, Old Mutual Private Equity Fund and Old Mutual Infrastructure Fund.
The initiative has already started bearing fruits as the company has constructed students hostels at Kamuzu University of Health Sciences (KUHES) in Lilongwe through Old Mutual Infrastructure fund and also the company is running two farms namely; Jacoma Estates Limited and Gala Agriculture Limited where Macadamia nuts is grown under Ulimi fund.
Speaking after the training Old Mutual Investment Group Managing Director Mark Mikwamba said the company recognizes the critical role journalists play in disseminating information hence the training.
“As Old Mutual we are responsible business and we believe the media has a critical role to disseminate information to the masses so as Old Mutual we are embarking on this responsible business and specifically responsible investments where we are looking at investments outside conventional assets and we want people to understand the importance of doing this,” said Mikwamba.
On his part, Aubrey Chulu who represented MISA Malawi Chairperson Teresa Ndanga at the training hailed Old Mutual for the timely training.
He then urged journalists in the country especially those who are in business reporting to take advantage of the training.
“This training is aimed at deepening the understanding of journalists of business investments issues. Old Mutual Group has launched what they are calling an alternative investment. This is a platform where the company is opening up investments on other areas other than the Insurance, Capital Market, Share Market and the likes which we have known.
“They are now doing farming, they are also investing in infrastructure like student hostels which they have built for KUHES and they are into Private Equity through the Alternative Investments so the idea of this training was to equip journalists with such information to their audience and at the same time the journalists will have an idea on what articles they will be writing to enter ‘Old Mutual Responsible Business Reporting Award during MISA Malawi awards,” said Chulu.
This year the theme for the Award is “Social Economic Impact of Pension in an economy: A focus on Alternative Investments”.