By Yamikani Yapuwa
Blantyre, Mana: Old Mutual Investment Group has said the media has a huge role to play in ensuring that the public is enlightened on the importance of responsible investments as well as alternative investments.
Group’s Managing Director, Mark Mikwamba made the remarks in Blantyre during a Media workshop on Alternative Investments organized for journalists under the Media Institute for Southern Africa (MISA) Malawi Chapter.
“Old Mutual Investment Group has taken the decision to pioneer and champion the alternative investment agenda in Malawi.
“We are all aware that Malawi needs long term investment in key strategic areas. Whether it is in agriculture, infrastructure or other sectors, large investments are needed,” he said.
Mikwamba said while foreign investors are important, the country cannot lose sight of pension funds as such funds have provided patient capital that is needed for long term investments in many countries around the world.
“I trust that through this training and workshop you will understand better alternative investments. You will understand better how pension funds can be used for the good of the pensioner as well as for the nation.
“We hope that this workshop will help you submit stories that will enlighten many people around responsible investments and the fact that this is long overdue for Malawi,” he added
Mikwamba said that responsible investment was simple as it means they would be making the best return for their customers while contributing positively to the economy and society at large.
“For example, if we have to choose between two investments that are expected to give us the same return; we will go for the one that will create more jobs, the one that will support more communities. This approach is a win for the customers and a win for the economy as well,” the Managing Director said.
Speaking on behalf of MISA-Malawi Chairperson, Editor at the Nation Publications Limited, Aubrey Mchulu applauded Old Mutual for the training, saying it would close the gaps that were there when reporting as well as ensure that the public gets quality information.
“Our expectation as Misa Malawi is that the gaps will be filled as this is a capacity building training. The presentations have been very eye opening and it is my sincere expectation and that Misa will see a big difference in the coverage of business news in general as well as investments and pension in particular.
“Old Mutual has said that the theme for this year’s award is pensions. You know pensions are very important in an economy as they contribute to infrastructural development and also contribute greater to the economy across the world,” he said.
Mchulu said the media has written on a number of issues on pensions including non-remittance and the like but should also encourage compliance as well from the collection points so that these funds are reinvested in the economy and contribute to growth.
Old Mutual Investment Group has set up Alternative Investments funds namely Ulimi Fund under which they have Jacoma and Gala Estate focusing on macadamia farming, Infrastructure Fund with focus on students accommodation and Telecoms infrastructure as well as Private Equity Fund where the group is focusing on financial inclusion, access to capital as well as light manufacturing.
