“Diversify in assets management amid economic volatility”- Old Mutual customers told

LILONGWE-(MaraviPost)-Old Mutual Investment Group (OMIG) has emphasised the need for its customers and clients to diversify in assets management amid economic volatility including high inflation and interest rates that are hampering business growth.

The regional OMIG exclusive panel discussion which Old Mutual Malawi hosted on Wednesday evening, September 11, 2024, in the capital Lilongwe observed that interest rates and inflation have hit hard in the assets management business hence the need for expansion and diversification.

This year’s OMIG exclusive panel discussion was unique in that it featured Managing directors from Kenya, Zimbabwe, South Africa, Uganda, and Namibia and was held under the theme, “Navigating Market Volatility to Optimise Investment Outcomes”.

OMIG Malawi managing director, Mike Mikwamba observed that inflation and unsustainable debt are becoming critical threats to Malawi’s economic stability.

Mikwamba therefore urged companies to utilise debt wisely, specifically by investing in long-term growth initiatives.

“If companies do not use their debt to invest in growth, they are setting themselves up for financial difficulties in the future,” said Mkwamba.

He added that focusing on short-term financial relief instead of long-term growth is creating long-standing debt challenges for many businesses.

Mikwamba also urged for increased investment in key sectors, particularly irrigated and commercialized agriculture, to boost the country’s economic resilience.

“Agriculture remains a backbone of our economy, but without proper irrigation systems and commercialization, the sector will not reach its full potential,” says Mikwamba.

Echoing the same, OMIG Managing Director for Namibia Lionel Kannemeyer advised clients to have a variety of business ventures for survival.

Kannemeyer was therefore impressed with the panel discussion outcomes where solutions were made for clients and customers to thrive in the business of assets management

“Inflation, interest rates are high that a single business venture can’t hold it, therefore put eggs in several baskets for maximum income generations, particularly in assets management ventures, “Kannemeyer appeals.

The Panel discussion theme of ‘Navigating market volatility to optimize investment outcomes’ is relevant considering the market volatility at global, regional, and local.

Therefore, investors must be aware of issues that are likely to impact their investments and strategies to manage the adverse impact.