Our Business


Through NICO Asset Managers Limited in Malawi we offer a premier range of investment management services and products to institutional and individual investors.  Our Asset Management is registered with Reserve Bank of Malawi as Portfolio/ Investment Manager PM005/10 and is 100% owned by NICO Holdings Limited.

Our banking business is operated through NBS Bank a commercial bank in Malawi. Offering a wide range of products, NBS Bank has service centers across Malawi. Open an account with NBS Bank and experience true banking in deposit products, credit facilities, Visa Credit and Debit card, Trade Finance, Foreign Exchange products, women business banking programmes and many other value added services.  With 50.1 % shareholding in the bank, we aim to ‘take the bank to the people’ everywhere.

Security and peace of mind of our clients is our top priority. We provide a reliable and flexible claims service that is second to none on the insurance market operating through our insurance companies in Malawi - NICO General Insurance Company Limited, Zambia – NICO Insurance Zambia Limited, and through our investments in Uganda – Sanlam General Insurance (Uganda) Limited and Tanzania – Sanlam General Insurance (Tanzania) Limited.
Our wide product range includes standard personal and commercial insurance covers in motor vehicle, building and road construction, liability, engineering, professional indemnity, marine hull & cargo, fire, loss of profits, agriculture, burglary, house-owners and householders, personal accident and many more.
Our insurance team is well equipped in customer service to handle all sales inquiries and possible claims with a wealth of experience and professional qualifications.

We seek to attract clients and intermediaries, who are prepared to nurture long-term partnership with us, to ensure long lasting security and peace of mind. The relationship we have with Sanlam further promotes our service to achieve our targeted goal in customer excellence.

Incorporated in January 2002 as a subsidiary of NICO Holdings Limited, NICO Technologies Limited a Malawian company has the following operating division; software solutions and web solutions, system and communications solutions, card technology solutions, and surveillance system.

We are involved in the hospitality industry and real estate industry as part of our portfolio investments through our subsidiaries and associate companies.
The groups’ investment portfolio includes;
• Properties, such as NICO House in Blantyre and Lilongwe, NICO Centre in Lilongwe, Chibisa House, Michiru House and Kapeni House in Blantyre.
• Equity investments in Chichiri Shopping Centre, Protea Ryalls Hotel, MTL, Mwaiwathu Hospital and some listed stocks on the Malawi Stock Exchange.
• Corporate Loans
• Government securities
• Other money market products

Our Life Insurance offers a wide range of traditional and non- traditional innovative life products operating through our companies in Malawi NICO Life Insurance Limited and our investment in Mozambique Sanlam Seguros (Mozambique). The product range covers a whole spectrum of individual and group business.  The Individual life products include: Endowment Assurance with profits; Cash Generator Endowment Assurance with profits; Savings Protection Policy with profits; Child Saver; Lien Endowment Assurance with profits; and Unit Linked Endowment with profits. The Group Business products include: Deposit Administration; Managed Funds; Group Life Assurance; Group Mortgage; Group Credit; Group Funeral Policies and Annuities. The relationship with Sanlam further promotes our business excellence.