Zimbabwe’s leading financial services group, Old Mutual Zimbabwe Limited has reported a robust financial performance for 2025 with its group chief executive officer Sam Matsekete pointing to resilience, innovation and economic recovery as key drivers of growth.
The company recorded a 55% jump in profit before tax to US$60.6 million as revenues rose by 29% to nearly US$195 million.
Speaking during an analyst briefing , Matsekete said the business had delivered “strong year-on-year growth in underlying performance”, supported by diversified revenue streams and a disciplined execution of strategy.
The banking division posted a 33% increase in loans with funding directed towards agriculture, mining and energy sectors seen as critical to Zimbabwe’s economic recovery.
Deposits also rose sharply by 57% while improved credit management saw non-performing loans fall to 1% signalling stronger balance sheet resilience.
In insurance, revenue surged by 79%, driven by demand for life products and funeral cover with market share rising to 13.1% by the final quarter of the year.
Asset management operations also expanded with funds under management growing by 21% buoyed by new investments and positive market returns.
Matsekete highlighted digital transformation as a cornerstone of the group’s success pointing to the rapid growth of its O’mari platform.
The service recorded a 69% increase in customers and a 45% rise in transaction volumes driven by products such as micro-savings and nano-loans aimed at previously underserved communities.
He said the group had “enhanced its digital platforms and deployed data analytics and artificial intelligence models” to improve efficiency and customer experience.
The improved performance comes amid a modest rebound in Zimbabwe’s economy, supported by a strong agricultural season and better mining output.
However, Matsekete noted that tight monetary policy including high interest rates had constrained lending in local currency, pushing more activity into US dollars.
Rising operating costs, up 25% during the year, and new policy measures including taxes on building societies also presented challenges.
The CEO said the group remained committed to long-term sustainability, with investments in renewable energy and financial inclusion programmes.
Old Mutual deployed US$68 million into renewable energy projects, including solar power initiatives while expanding financial education outreach to thousands of rural farmers and millions online.
“We will continue investing in enhanced customer propositions and digital capabilities to support profitable topline growth,” Matsekete said outlining the group’s forward strategy.
Looking ahead, Matsekete struck a cautiously optimistic tone noting that Zimbabwe’s economic outlook remained positive despite global uncertainties.
He said recent currency policy reforms could help restore market confidence adding that the group would “maintain disciplined execution” while pursuing emerging opportunities.
The company declared a dividend of US$15 million more than double the previous year, reflecting strong capital levels and cash generation.
