Jonas Mushosho

Jonas Mushosho

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OCCUPANCIES at insurance giant Old Mutual’s properties continue tumbling as voids during the first three months of the year rose to 19 percent from 17 percent a year ago.

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Market watchers believe that the tough economic conditions continue to have a toll on business.

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However, chief executive officer Mr Jonas Mushosho indicated today at the company’s annual general meeting (AGM) that the overall group’s performance was “commendable”, driven mainly by the life and banking division.

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Stockbrokers MMC Capital regard CABS, a unit of the business, as one of the best performing banks in the Tier I category, holding 14,09 percent of the market.

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“We run an integrated and diversified financial services group, and therefore the group has capacity to absorb shocks that happen in a difficult environment.

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“In that regard, our first quarter performance has been very satisfactory,” said Mr Mushosho.

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