A huge milestone was reached today as the first ever Old Mutual branch in Katutura was launched in the heart of the township at Black-Chain shopping centre.
This becomes the 24th Old Mutual branch across all the regions in Namibia and will operate with about 25 highly skilled staff under the guidance of Branch Manager Waltrud Saayman, 13-year Old Mutual veteran.
Said Old Mutual Group CEO, Kosmas Egumbo says, “The presence of an Old Mutual branch in the centre of Katutura, therefore stems from our deep commitment and sense of business responsibility to bring our financial services and product offerings closer to our existing and potential new customers in the vicinity.”
The occasion was graced by Windhoek Mayor Muesee Kazapua who praised Old Mutual for showing commitment to the people. “Our population of just over two million people in Namibia is still characterised by low insurance penetration ratio of about 3.4% of Gross Domestic Product (GDP).
We also know that the level of financial literacy is low, particularly among the masses of our people. In a challenging economic environment where many of our people find themselves with decreasing disposable income, this poses a further challenge, especially the low-income earners, who are exposed to daily financial shortages and risks. Therefore by coming closer to the masses, Old Mutual will this way not only improve financial literacy but alleviate our people from poverty, ” he said.