Old Mutual Life Assurance of South Africa has come under pressure from the country's main trade union and pro-refugee activists to sell off its stake in ZimPapers, the Zimbabwean state holding company for print publications including the Herald, the Chronicle and other titles.

The Confederation of South African Trade Unions and the refugee support group People Against Suffering, Suppression, and Poverty have written to Old Mutual Chief Executive Julian Roberts to urge the financial group to divest its 19% stake in ZimPapers.

A statement by the activists said holding shares in ZimPapers was "equivalent to putting bullets into a gun that kills opposition voices in Zimbabwe." They have posted a petition on a Web site to be presented to Old Mutual management if it does not heed the call.

Old Mutual Chairman Muchandeyi Masaunda told VOA Studio 7 reporter Patience Rusere that his company, which is also traded on the Zimbabwe Stock Exchange, is focused on investor interests and does not want to involve itself in Zimbabwean politics.

More reports from VOA's Studio 7 for Zimbabwe...