THE sustainability of Zimbabwean businesses will take centre stage at this year’s Top Companies Survey (TCS) awards – hosted by The Financial Gazette in conjunction with Old Mutual (OM) – to be held next week.
With the financial services group’s chief executive Samuel Matsekete expected to be one of the speakers, the issues of environmental, social and governance (ESG) has emerged as one of the key areas of attention under the theme “sustainable investment for social impact”.
The group’s approach to sustainability is entrenched into its core business activities, competencies and ESG practices affecting its stakeholders and business.
“At Old Mutual . . . we understand the impact of economic, environmental, social and governance factors on our business, its customers, and broader society.
We recognise the urgent need for global transformation towards sustainable business practices including resource efficiency and responsibility for future generations,” Kumbirayi Katsande, the company’s chairman, said.
On the other hand, Matsekete highlighted that the group embraces its broader commitment to contribute to the development of the communities it serves and the wider economy. “Sustainability is embedded within our business strategy, priorities, and practices.
Our products and investment strategies recognise and respond to the need to keep a clean environment and to adapt to the effects of climate change,” he said.
Matsekete has recently said OM continues to invest in renewable energy, while also promoting ESG principles in its investee entities.
The group has allocated a significant portion of its US$40 million capital expenditure – about US$25 million of it – to support small and medium enterprises as well as power generation. Again, OM has invested a US$12 million housing project.
Meanwhile, this year’s TCS preparations have involved an intensive adjudication process overseen by judges and analysts, evaluating the top performers listed on the Zimbabwe Stock Exchange and its Victoria Falls unit.
“As we strive to create a brighter future for Zimbabwe, sustainable practices have become more crucial than ever. It is for this reason that this year’s awards will honour companies that are not only driving economic growth but also making a positive impact on our environment and communities,” Shingirai Chirikuutsi, the Financial Gazette’s general manager sales and marketing, said.
Established in 1980, the TCS has evolved into a benchmark for both local and international investors, reflecting the performance of companies across Zimbabwe’s banking, insurance, and life assurance sectors.