Old Mutual Africa profit contribution has increased from N.dollars 128 million in 2006 to more than N.dollars 1 billion in 2013

WINDHOEK: The Old Mutual Africa (OMA) profit contribution has increased from N.dollars 128 million in 2006 to more than N.dollars 1 billion in 2013.

The Chief Executive Officer of OMA Operations, Johannes !Gawaxab announced this on Wednesday during a media briefing here, where he also announced his decision to go on early retirement in December this year.

!Gawaxab said under his leadership, OMA assets rose from N.dollars 22 billion to N.dollars 64 billion over the same period (2006-2013).

He was notably instrumental in the successful acquisition and integration of life and general insurance businesses in Nigeria, Ghana and Swaziland, and the development of solutions relevant to these markets.

!Gawaxab, 57, will retire after more than 16 years with the Old Mutual Group.

The process of appointing his successor will start soon.

SOURCE: NAMPA