Old Mutual delves into responsible investment

Old Mutual Malawi through its subsidiary, Old Mutual Investment Group (OMIG) Malawi Limited, has delved into “a challenging journey to be a leader in responsible business” under responsible investment (RI) initiative.

Introducing RI on Wednesday to business captains in Blantyre, Old Mutual Malawi acting chief executive officer Edith Jiya said they have embarked on this journey to be custodians of assets their customers have entrusted them for a sustainable future.

She said: “When we talk about responsible business, we are talking about us being responsible to our customers, being responsible to our employees, being responsible to the community in which we are operating and being responsible for environmental management and, finally, also making sure that we are undertaking responsible investments.”

Jiya noted that RI affects all aspects of their business, including long-term investments viability, to how their customers perceive their brand and also sustainability of business and the community into the future.

She acknowledged the commitment they have undertaken will not be easy, but take comfort in expertise they have with support from their parent company multi-listed Old Mutual plc.

“I am sure what is going at the back of our mind is the limited investment opportunities and whether by us embarking on this it will make us effective stewards of your assets going into the future,” she assured business captains.

In his presentation, OMIG Malawi Limited managing director Mark Mikwamba explained that the wave of change in how investments should be done started many years back in both developed and developing economies and have, therefore, resolved to pioneer and shape how investment assets must be managed in Malawi going forward.

“There is no question that sustainability is important to all of us. Whether it’s sustainability of the economy, sustainability of the environment and sustainability of our companies or sustainability of the planet. We all are concerned about these,” he said.

The launch of RI also brought in Jon Duncan, head of sustainability research and engagement at OMIG SA, who said Old Mutual plc has made a commitment to look at the world through the sustainability lens and to price the long-term environmental, social and governance (ESG) risk as it appears and, at the same time, show up as a responsible custodian or steward of the assets invested.

Some of the business captains who attended and were in support of RI included Press Corporation Limited (PCL) group chief executive officer (CEO) Matthews Chikaonda, NBS Bank CEO Bernadette Mandoloma, Britam Insurance Company Limited CEO Grant Mwenechanya, CEO of and Standard Bank head of investment banking Shakir Satar. n