2024 Annual Report

2024 Annual Report

During the year under review, the proportion of Group revenue in foreign currency increased from 74% to 84%, indicating client preference for insurance covers and other products in foreign currency.

Why invest in First Mutual Holdings limited?

A Future-Fit Financial Services Group Anchored in Resilience and Growth

First Mutual Holdings Limited is a regionally diversified financial services group offering exposure to high-growth sectors including insurance, reinsurance, property, microfinance and wealth management. With a strong presence in Zimbabwe and expanding operations in Southern Africa, FMHL combines innovation, ESG leadership and sound governance to deliver long-term value for shareholders. Our integrated model balances risk and opportunity, and positions the Group to thrive in evolving economic and regulatory landscapes.

2024 Annual Report

Douglas Hoto, Group Chief Executive Officer

The Group’s solid financial position, diversified revenue streams as well as the focus on growing the contribution of regional assets is expected to contribute towards sustainable growth and value creation for our stakeholders.

Performance Highlights

2024 Annual Report

During the year under review, the proportion of Group revenue in foreign currency increased from 74% to 84%, indicating client preference for insurance covers and other products in foreign currency.

  • Insurance Service Result (US$)

    27.1 million

    2023: 23.8 million

    14%

  • Profit After Tax (US$)

    -27.1 million

    2023: 58.7 million

    146%

  • Total Assets (US$)

    256.8 million

    2023: 287.0 million

    11%

Governance

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