NICO Holdings Limited has donated K4.5 Million to the Anti-Corruption Bureau (ACB) towards the seventh annual general meeting and conference for Commonwealth Heads of Anti-Corruption Agencies which starts today up until June 2 at Sunbird Nkopola in Mangochi.
Speaking during the handover of the cheque on Friday in Blantyre, NICO Holdings managing director Vizenge Kumwenda said they believe in a fraud free business environment.
He said: “This is an important event to support because corruption is a big problem in Malawi as it has been acknowledged even at the highest level of leadership. We thought we need to join the leadership to fight against corruption.”
He added that NICO Group has fraud and corruption policies aimed not to allow taking place its subsidiary companies. ACB director general Lucas Kondowe said the conference will be another way of selling Malawi to potential tourists.
The donation has been channeled to assist to meet costs associated with publicity. This year’s meet will be held under the theme Coordination National Anti-Corruption Action in Commonwealth Africa where delegates from Botswana, Ghana, Kenya, Lesotho and Cameroon are expected to attend.
A sever tambala and a one tambala share price gain in NICO Holding Limited and TNM, respectively, last week were enough to push slightly up the Malawi All Share Index (MASI) by four points to close the week at 15 620.11 points from 15 606.11, a market report has shown.
NICO Holdings share price jumped from K12.01 to K12.08 while TNM moved from K9.34 to K9.35. The two were the only counters that registered price gains on the local bourse.
During the week, the Malawi Stock Exchange (MSE) traded 4.4 million shares at a total consideration of k284.2 million in 8 deals. In the previous week, MSE raised about K333 million shares changing hands as a result of share price gains in six counters.
On the Treasury Bills (T-Bills) market, at the auction held on May 16, the average yield on the 91 days T-Bills, 182 days T-Bills and 364 days T-Bills fell by 0.17 percent from 21.48 percent to 21.30 percent, by 0.08 percent from 22.08 percent to 22 percent and 0.15 percent from 23.29 percent to 23.14 percent respectively
In the week under review, the market recorded trading activity in nine counters, namely , FMB, Illovo Sugar Malawi Limited, National Bank of Malawi, NBS Bank, NICO Holdings, Standard Bank, Sunbird Tourism, TNM and Old Mutual Limited.
NICO holdings and its partner, Sanlam Emerging Markets (SEM), a subsidiary of the Sanlam Group, says their partnership will continue to be strengthened so as to deliver mutually beneficial financial results for both entities.
SEM holds a 49 percent stake in NICO Life Insurance Malawi in a partnership which dates back to 2011. In June 2014, SEM also concluded the acquisition of a stake in NICO General Insurance operations in Malawi, Zambia, Uganda and Tanzania.
Managing Director of NICO Holdings Vizenge Kumwenda said this following a meeting with SEM’s Chief Executive Officer Junior Ngulube who has been on a business visit to NICO Holdings together with Gaffar Hassam the Regional Executive for Southern Africa responsible for SEM’s businesses in Nambia, Botswana, Malawi, Zambia and Zimbabwe.
He said Malawian life insurers have recorded substantial growth in terms of total assets in recent years, adding that the life insurer’s total assets increased from K72.6 billion in 2010 to 276 billion in 2015.
“The relationship with SEM has been timely and has worked well for NICO Group. Sanlam is supporting us on many fronts, including in actuarial services, information communication technology, leadership training, management training and marketing.” Kumwenda said.
According to Ngulube, the SEM business model was anchored in strong local partnerships.
Through SEM, Sanlam has continuously grown its footprint across Africa with the acquisition of astake in Morocco-based Saham Finances in 2015 expanding its business to 34 countries on the continent.
In addition, Sanlam, which has a market capitalization of $9,5 billion as a at January 31, is one of Africa’s largest investment management groups with $65 billion in assets under management and employs 14711 and a total of 52026 in associate companies.
By Brenda Twea - The Nation
Malawi Stock Exchange- listed NICO Holdings and Sanlam have sponsored a Malawi Broadcasting journalist to a one-week financial journalism training in South Africa.
By Grace Phiri - The Nation
NICO Holdings Limited has donated MK1million towards Nation Publications Limited (NPL) Mothers’ Day Fun Run scheduled for October 8, 2016 in Mzimba.
By William Kumwembe - The Daily Times
Malawi Stock Exchange (MSE) listed NICO Holdings Limited has described as normal the shifting of shares by one of its main shareholders Sanlam Emerging Markets to the Botswana Insurance Holdings Limited (BIHL).
By Chikondi Chiyembekeza - The Nation
NICO Holdings Limited, the Malawi Stock Exchange (MSE)-listed financial services group, says it has put in place strategies to ensure that it grows its profit this year.