With Zimbabwe among the largest informalized economies in the world, Old Mutual Limited has moved to tap into this largely un-banked community by scrapping the payslip requirement for its housing stands, Old Mutual Group Chief Executive Officer, Jonas Mushosho has revealed.
Addressing a Harare International Festival of Arts press conference in Harare yesterday, Mushosho said in an effort to push for a fully sustainable, commercialized Zimbabwe arts industry and financial well being of society, the group has relaxed some terms to suit citizens.
“As a Financial Services giant our priority is the financial well being of society as aptly expressed by Old Mutual purpose which is enabling positive future.
“Over the years we have increased the scale of our financial inclusion initiatives, to name a few,with a financial literacy program, and secondly, breaking the tradition of asking for pay slips from potential buyers in the recently launched Pumula South residential stands to accommodate self employed people, artists included,” said Mushosho.
Old Mutual’s bold move to scrap payslip requirement for its housing stands will come as a relief to many, considering that Zimbabwe has high unemployment rate with the majority population engaged in informal business or performing menial jobs for survival.