Companies & Markets

Old Mutual plans preference shares issue

Kudzanai Gerede, Companies and Market Editor0789 views

GWP increased 12 percent year-on-year to ZiG1,14 billion on the back of growth in all revenue lines. Insurance revenue was up seven percent to ZiG1,1 billion driven by new business written through the continued support from business partners.

Advertisements OLD Mutual Zimbabwe Limit­ed (OMZIL) is seeking share­holder approval to convert an US$84,3 million debt owed to subsid­iaries into preference shares as it aims to ease cash flow pressure and clean up its balance sheet.Advertisements Under the proposal to be decided at an annual general meeting stated for May 27, OMZIL will issue the…

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