Old Mutual urges couples to plan finances together, sees opportunity in Malawi’s economic challenges

Old Mutual Malawi Limited has urged couples to plan their finances jointly, arguing that collective financial planning leads to better outcomes for households.

The company’s Group Chief Executive Officer, Tavona Biza, made the remarks during a dinner organised for couples in Lilongwe.

“When people make financial decisions, you make financial decisions about the home, and as you do that, you do that as a couple and as partners. And when we looked at it, we actually said, as Old Mutual, that’s what we also have.

“So we felt that it was very important for us to bring people together as couples to this event, and just speak to them about the importance of planning together and planning for their future, so that they can actually have an amazing and thriving future,” Biza said.

He stressed that alignment between partners was critical to achieving shared financial goals.

“The reality about it is, those that plan together have better financial outcomes than those that don’t. The importance of making sure that you are aligned, you are focused, and you are driving in the right direction. In our view, it is a very important part of someone actually achieving their goals,” he said.

“That’s why, even for us as Old Mutual, we say we are partners with you. We must be agreed. We must move together, and we must make sure that you achieve the destination that you actually are destined to achieve.”

With Malawi continuing to navigate significant economic pressures, Biza told couples that such challenges could also present opportunities for growth.

“Like the old saying goes, when the going gets tough, the tough get going. So, if you look around Malawi, wherever you see challenges, you see an opportunity. That is the most important thing,” he said.