Paheja Siririka

Investment, savings and insurance company Old Mutual Namibia celebrated their centenary with the reflection of achievements they have made, which includes about N$2.75 billion paid annually in recent years as they honoured insurance obligations to their customers.

“Old Mutual has over the years empowered Namibians through employment. Today, we have a workforce of over 900, of which 58% are female. These talented and hardworking employees are of service to customers and stakeholders across the country – and they truly represent the diversity of the people of this beautiful country,” said Kosmas Egumbo, Old Mutual Namibia’s CEO. He said: “The needs of our customers and stakeholders are constantly changing; that is why we made it our business to constantly refresh our understanding of what they need by listening to them carefully. Old Mutual’s offerings and engagements with our customers will continue to be centred around personalised solutions where the needs, aspirations and behaviours of customers occupy centre stage.” At the celebration, Prime Minister Saara Kuugongelwa-Amadhila said 100 years of a successful business is a commendable achievement that speaks to a well-thought out business vision, skilful business management and perseverance. She added that business management and the business environment has gone through a transformation over the past century and economies around the world, including Namibia’s. “We have experienced storms which many businesses did not manage to survive. Our financial sector has managed to weather these storms and has succeeded to generate returns for shareholders that are amongst the highest in the world and to provide an anchor for economic growth. This was possible, thanks to prudent management of individual financial institutions and a sound macroeconomic and regulatory environment,” she pointed out.

Kuugongelwa-Amadhila assured that government is committed to maintaining macroeconomic stability to enhance the resilience of the economy and that of the financial sector, in particular, demand on us to build necessary safeguards and improve products innovations.

She said: “These are aspirations of Vision 2030 and National Development Plans, which require us to be innovative and actively pursue policy reforms that improve the delivery of quality, timely, reliable and affordable services to our citizens – and to optimise policy outcomes.” She emphasised the importance of corporate social responsibility and urged other companies to follow suit. “Investment in our communities is a strategic investment that is in the interest of businesses as well. I, therefore, call on our corporates to embrace this principle. I want to thank those who are doing so, such as Old Mutual – and I encourage them to continue.”

Kuugongelwa-Amadhila encouraged financial institutions to be nibble in identifying domestic investment opportunities to ensure our savings support local economic growth.

“The Covid-19 pandemic has highlighted our over-dependence on imports and the abundant opportunities that exist for investment in our country. Let us harness them and build the resilience of our economy through improving self-reliance, diversification of the economy and addressing the dichotomy in our economy and inequalities,” she concluded. - psiririka@nepc.com.na