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Old Mutual Limited has announced plans to deepen its investment in Zimbabwe, with additional capital expected to flow into renewable energy, agriculture, infrastructure, and other priority sectors aligned with the nation’s development goals.
The announcement followed a meeting between Zimbabwean President Emmerson Mnangagwa and an Old Mutual delegation led by Group Chief Executive Officer Jurie Strydom, marking his first official visit to Zimbabwe since assuming office in June 2025.
According to both parties, discussions centered on the macroeconomic environment, potential areas of collaboration, and alignment with Zimbabwe’s national strategies. Strydom described the visit as both a courtesy call and an opportunity to reaffirm Old Mutual’s long-term commitment to the Zimbabwean market, viewing it as a key component of the group’s African investment portfolio. “We discussed positive economic developments and our ongoing investments in renewable energy, student housing, and hospitality,” said Strydom.
Old Mutual Zimbabwe CEO Sam Matsekete highlighted the engagement as a platform to strengthen cooperation between government, industry, and the private sector. He noted that Old Mutual’s investments already span several areas, including agriculture, mining supply chains, SME infrastructure, and logistics.
Matsekete added that Old Mutual plays a significant role in Zimbabwe’s energy sector, producing about two-thirds of the electricity generated by independent power producers (IPPs). The company is currently finalizing a solar project in Masvingo and developing another hybrid hydro-solar facility at Tugwi Mukosi.
In addition to energy projects, Old Mutual has been active in property and infrastructure development, backing initiatives such as Eastgate Market, Arundel Office Park, and renewable energy ventures under its Green Energy Fund. The company has also supported agriculture through financing for smallholder and commercial farmers, as well as investments in agro-processing value chains.
While expressing confidence in Zimbabwe’s improving economic conditions, Matsekete emphasized that future investments will depend on ongoing assessments of regulatory and market dynamics. Analysts note that Zimbabwe’s economy is showing tentative signs of recovery after years of instability. Although views differ on the extent of reform, both domestic and regional investors appear increasingly open to engagement under the right policy conditions.
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As a long-standing institutional investor, Old Mutual’s involvement positions it to contribute significantly to infrastructure and energy projects requiring long-term capital. Its strategy reflects a broader continental trend where African investors are channeling funds into development-led projects designed to support national and regional growth objectives.
