OM wary of economic headwinds in region

FINANCIAL services group, Old Mutual, says it expects macroeconomic conditions in its markets in the southern African region to remain challenging in the foreseeable future.
In the region the group has operations in South Africa, Botswana, Zimbabwe, Malawi, Namibia and Swaziland.
In its short-term announcement for the reviewed annual results and dividend declaration for the year ended December 31, 2022, the group said economic activity within the region continues to be hampered by several challenges.

“Economic activity continues to be hampered by significant interest rate increases as central banks attempt to combat rising inflation caused by Russia’s war in Ukraine. Severe Covid-19 lockdowns in China dampened growth in 2022, with the recent reopening paving the way for a faster than expected recovery,” Old Mutua