Zimnat General Insurance, a subsidiary of Shingi Mutasa’s Masawara Holdings, says it is well-positioned to weather any storms in the economy and preserve value going forward.
By Chris Muronzi
Zimnat MD Stanley Mazorodze told businessdigest this week his company was optimstic despite deepening economic problems and resurgent evident inflationary pressures.
“We choose at this juncture to remain positive, understanding that there is a need for our product. Our homework always is to challenge ourselves to provide this need to the Zimbabwean market, notwithstanding the economic conditions,” he said.
He said inflationary pressures were rising and this was evident in insurance claims.
“It is indeed true that inflationary pressures are rising. Key to mitigate this lies in an investment strategy that recognises value preservation and at the same time easy enough to translate into liquidity to ensure continuous and valuable service to our customers,” Mazorodze said.
“For us it is a choice to do business in Zimbabwe and we have since our inception in 1946 weathered a number of storms. We have throughout this long history consistently protected assets of Zimbabweans, managed their wealth and ensured that their assets and funds were passed on to future generations. The Zimnat motto inculcates who we are that is ‘Making life better’, this philosophy within the group that its purpose is to help clients better their means, to assist in times of difficulty, and to provide a reliable safe haven for funds and assets.”
He said the company’s investment in Zimbabwe is for the long haul.
“In short, our investment in Zimbabwe is for a long haul and challenges are part of business,” Mazorodze added.
The group’s operations are all profitable, he said.
Zimnat was delisted from the Zimbabwe Stock Exchange in 1995.
Sanlam last year acquired 40% equity in the group.