Page 4 of 4
Old Mutual has devised strategies for dealing with both unfair and fair competition. It has increased and keeps increasing its customer base through the critical and pertinent underlying values and philosophies of deep trust, integrity, respect for customers and accountability.
“Our culture is crucial to us,” Madzinga explained. “Customers have deep trust for Old Mutual due to the ways in which we manage people’s money and resources with integrity, forthrightness and due profitability.
“We have qualified and competent employees and we leverage our global expertise and experiences to remain a top-notch company. We manage huge monies and here trust is a critical factor. We go to great lengths to protect our brand.”
Regarding risks management, Madzinga said that OMK has a fully-fledged department and framework entirely dedicated to risk mitigation. A new highly-automated due process ably mitigates fraud and even detects it and other crimes before they happen. Generally, such systems have drastically reduced fraud and other crimes in the Kenyan insurance industry.
Old Mutual Securities (OMS) is now fully integrated in the Nairobi Securities Exchange (NSE),
“We are proud of that and the fact that customers have direct and easy access to the NSE,” commented Madzinga. “Moreover, people are comfortable with our brand and strong heritage and are keen to deal with us. OMK has gained significant market share in the recent past.”
Fundamental changes and positive developments are expected in Kenya over the next 20 years, guided by the new Kenyan constitution.
“Kenya is revolutionary in the way it is conducting its affairs and the power and impact of the new constitution is great and must be appreciated and harnessed; it will be a big legacy for the current leadership,” Madzinga added.
“Big companies will continue to come to Kenya and Africa to invest since the market is still basic, retail and under-penetrated.
“The critical mass is still rising and growth still happening as contrasted to Western economies, which are already wealthy. It is much easier to operate in Africa since opportunities abound,” Madzinga concluded.
Most Read
The Bell team in Richards Bay consists of more than 800 machinists, welders, and assemblers. (Image source: Bell)
GFE Power Product’s extensive range covers generators from 10 kVA up to 3,000 kVA. (Image source: GFE Power Products)
The funding is the largest-ever equity raise in the minigrid industry according to Husk. (Image source: Adobe Stock)
The initiative will help African contractors participate in annual infrastructure investments. (Image source: Afreximbank)
ITS has evolved into a sophisticated systems approach, providing numerous opportunities to revolutionise road networks. (Image source: Adobe Stock)
Invest International’s Lara Muller; Ivory Coast Minister of Finance and Economy, Adam Coulibaly; and Ambassador Designate to Ivory Coast, Jeroen Kelderhuis. (Image source: Invest International)
Inside Condra’s Johannesburg factory: an overhead crane positions an electric motor during assembly of hoist and crab. (Image source: Condra)
The Yellow Metal Machine Rental team with some Wacker Neuson equipment. (Image source: Wacker Neuson)
The parties will also promote the mutual exchange of information and expertise in the field of export credit policies and practices. (Image source: TBD Group)
Although displaying resilience, the report warns that African banks remain exposed to physical climate risks due to both sovereign and industry lending. (Image source: Adobe Stock)
WAA and VCMI will seek to establish regulatory frameworks to enable access to high integrity and fair voluntary carbon markets for WAA member countries. (Image source: Adobe Stock)
IVECO is renewing its entire product range, all at once. (Image source: IVECO)
Both the IMF and EIU expect SSA to rank as the world’s second fastest growing economy in 2024. (Image source: Adobe Stock)
The MoU was signed alongside the Africa Health Business Symposium. (Image source: Africa CDC)
There has been a focus on the sugar industry. (Image source: Adobe Stock)
Latest news
According to IRENA, concrete policy actions and massive mobilisation of finance at full speed is required in order to meet the 2030 target. (Image source: Adobe Stock)
The HQ is expected to be completed and handed over by February 2025. (Image source: ECOWAS)
Africa’s share of global manufacturing only sits at around 2% today. (Image source: Adobe Stock)
There are numerous but not insurmountable challenges facing Africa's aviation sector, according to IATA. (Image source: Adobe Stock)
Africa Energy Forum 2024 was held in the Fira de Montjuïc in Barcelona. (Image source: ACP)
The quality design and manufacture of SEW-EURODRIVE South Africa’s panels and enclosures can be suited to any customer requirement wall mounts. (Image source: SEW-EURODRIVE)
African countries will require over US$45bn in the coming eight years to plug the gap in its transmission systems. (Image source: Synergy Consulting)
BII commits US$75mn to second Green Basket Bond with Symbiotics Investments to finance small-scale green projects in Africa, South, and South-East Asia. (Image source:
Transforming Africa's digital economy: Data Centres powering growth, innovation, and sustainability in the digital era. (Image source: Adobe Stock)
The Linnhoff TSD1500 Asphalt Mixing Plant is undertaking crucial work on two rural road projects in Kenya. (Image source: Lintec & Linnhoff)
AI-driven energy-sharing platform will be integrated with ABB energy management technology. (Image source: ABB)
ENGIE Energy Access starts mini-grid construction in Zambia. (Image source: ENGIE Energy Access)
ATIDI and Globeleq boost Kenya’s renewable energy with pioneering geothermal initiative, reinforcing regional sustainability goals.
This partnership aims to enhance sustainable development and advance climate action initiatives throughout the continent. (Image source: Adobe Stock)
Orange Energies has aimed to make energy more accessible, becoming a preferred partner for energy producers in regions where half the population lacks electricity. (Image source: Adobe Stock)
