Old Mutual shifts investment strategy amid currency woes

FINANCIAL services firm, Old Mutual Zimbabwe (OMZ), is skewing its investment portfolios towards those that carry currency sensitivity to reduce its exposure to the local tender’s recent volatility, NewsDay Business can report.

The Zimbabwe Gold (ZiG) is continually losing value, threatening the viability of businesses as the negative effect of the depreciation is eroding revenues and investment returns.

In September, the Reserve Bank of Zimbabwe devalued the ZiG by 43% to ZiG24,39.

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