First Mutual Holdings has extended its healthcare reach with the inauguration of a new medical facility in Southerton, Harare, aimed at enhancing medical tourism and increasing access to healthcare services within Zimbabwe.
With the opening of this new facility, First Mutual now boasts a total of 14 medical centers nationwide, showcasing the company’s commitment to delivering quality healthcare across the country.
During the launch event held on Wednesday, the Harare Provincial Affairs Minister of State, Charles Tavengwa, praised First Mutual for its dedication to healthcare excellence.
Representing the minister, Cosmas Chiringa, the ministry’s permanent secretary, commended the company’s resilience, innovation, and unwavering commitment to providing exceptional patient care.
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Chiringa emphasized the significance of First Mutual’s initiative in meeting the healthcare needs of local
In another story, First Mutual Life Assurance Company is facing a significant financial burden after a forensic audit revealed substantial losses incurred by policyholders due to non-compliance with regulations. The Insurance and Pensions Commission (IPEC) has ordered the company to pay approximately US$53 million and $209 million to compensate affected policyholders, a decision that First Mutual is currently appealing.
The audit uncovered various instances of non-compliance, including the failure to separate accounts for different business units, misuse of management fees, diversion of policyholder funds to fund funeral services, absence of independent directors, and imprudent investment decisions such as overcommitting funds to Rainbow Tourism Group in anticipation of the 2010 FIFA World Cup….read in full