CLEMENT CHINAKA

Chief Executive Officer | Old Mutual Africa Regions Cluster

The 1988 Old Mutual Zimbabwe Mathematics Olympiad winner, Clement Chinaka was an Old Mutual bursary student at the University of Zimbabwe where he studied BSc general (Statistics and Computer Science).

He joined Old Mutual in 1992 as an actuarial student. He qualified as an actuary in 1998.  Clement has held a number diverse roles with the Old Mutual Group spanning Pensions and  Life Actuarial roles, including role of Chief Actuary of Old Mutual Life Assurance Company of Zimbabwe between 2001 and Dec 2005, Chief Financial Officer of Old Mutual Corporate in South Africa, Managing Director of Old Mutual Corporate from 2015 to 2019 and since 2019 currently serving as Chief Executive Officer of Old Mutual Africa Regions (a cluster of Old Mutual Limited accountable for the group’s businesses in 10 African markets outside South Africa).

Notable achievements include:

• Recommended the closure and paying out of policies that were losing value in the early days of very high inflation in Zimbabwe;

• Led project that successfully transitioned Old Mutual South Africa’s famed distribution through changes in commission on savings products from upfront to over the life of a policy;

• Part of the team that started and drove the consolidation of retirement funds into umbrella funds in South Africa;

• He has added significant shareholder value as MD of Old Mutual Corporate, growing profits by over 50% over 4 years and has turned the Old Mutual Africa Regions portfolio into a formidable portfolio of quality businesses.