New Market country overviews
- China
- India
- Colombia
- Mexico
African Operations country overviews
- Kenya
- Malawi
- Namibia
- Swaziland
- Zimbabwe
Scale of New Market country operations
Scale of African country operations
In addition to having operated in South Africa for 165 years, Old Mutual has been operational in other African countries for over 100 years. We have also operated in Colombia and Mexico since the 1950s and have more recently established joint ventures in China and India. Both African Operations (through the African Operations Central Unit) and New Markets (Colombia, Mexico, China and India) report to the CEO of Old Mutual Emerging Markets and governance processes have been aligned accordingly. The New Markets reporting changed in 2010 from Old Mutual plc.
We have a significant competitive advantage in our Emerging Markets, being able to leverage off our South African capability and often customising products to suit various markets. We are the dominant savings and investment company in Namibia, Zimbabwe, Swaziland and Malawi. In Colombia and Mexico, we service more than a third of the voluntary pensions market and the growth of our businesses in Mexico and India is outpacing industry growth. Increasingly, Old Mutual Emerging Markets is looking to provide administrative support to all Emerging Market regions from South Africa.
A number of material issues affect the sustainability of our business in Emerging Markets. These include: risk and governance issues; the need to provide affordable products and services to low-income customers; the responsible investment of policyholder funds; the increased pressure for skills and leadership capability; and the need to uplift communities (and thus create future markets), while ensuring protection of vulnerable natural environments.
While this report includes elements of the African Operations and New Markets, in 2011 the reporting from all Emerging Market operations needs to be more incorporated to ensure that we are managing and reporting on sustainability in an holistic and effective manner.