NICO CELEBRATES 40TH ANNIVERSARY
16/September/2011

NICO Holdings Limited, formerly National Insurance Company, on the evening of 14 September 2011 held a glamorous reception in Blantyre to celebrate its 40th anniversary since incorporation in 1971.

Newly appointed Deputy Minister of Finance Cornelius Mwalwanda, who was guest of honour, hailed NICO for its significant contribution to socio-economic development of the country throughout its existence in the country.

He said the company was a model of economic and business diversification, not only in Malawi but the whole southern and eastern Africa region.

"This is evidenced by your penetration into regional and international markets. These developments will contribute towards reducing the imbalance in trade and services which has often tipped in favour of developed countries and against developing countries such as Malawi," said Mwalwanda.

NICO Holdings Managing Director Felix Mlusu said the event was the climax of the celebrations which started in January this year.

He said during the 40 years of the company's existence, the company had grown tremendously, with the NICO brand growing and becoming a household name globally.

He said this had given them a big business advantage since size of the company matters as it gives one strong growth.

"We will strive to grow and maintain our standards both locally and internationally," he said.

During the reception, NICO gave out awards to some of its long serving employees. NICO Holdings has several subsidiaries which include NBS Bank, NICO Technologies, NICO Asset Managers, NIKO Insurance Tanzania Limited and NIKO Insurance Uganda Limited among others.

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