Policyholders take Old Mutual to task

In South Africa they have got Theo Botha - irrepressible shareholder activist - and Zimbabwe could be getting its own version in the form of businessperson Chester Mhende.

About two decades ago he made his name in property development and now he has reinvented himself as some David in the anti-Old Mutual Zimbabwe (OMZ) demutualisation process, and subsequent empowerment deal.

In a true shareholder activism spirit, Mhende recently formed an association aimed at addressing "injustices" against policyholders caused by demutualisation of insurance giant.

"Ours is simply a cry for information so we can quantify what belongs to us and after recovering it, quietly continue with our lives with the knowledge that we would have fought for and obtained justice for ourselves."