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Nico advances diversification

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Nico Holdings Limited has said despite a tough economic environment last year, it still managed to make substantive progress because of its diversified portfolio.

Speaking in Lilongwe during a recent cocktail which the group of companies organised with the aim of interacting with its clients, Nico Holdings Limited Managing Director, Vizenge Kumwenda, said the company always believes that getting views of customers is key to business growth.

He said the tough economic times of 2016 which were compounded by high interest rates and inflation, among others, made business for several investors tough.

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“But even though the economic environment was tough, we still managed to do well. Our different companies like Nico Insurance and Nico Assess Managers managed to do well on their own and that helped us to balance in a way.

“They supported each other such that even though other companies did not do well, we still registered some success,” Kumwenda said.

Kumwenda added that the group does not expect any particular change regarding the economic environment in 2017.

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Head of Finance and Administration at Export Development Fund, Chifuniro Kaimapanjira, said Nico Holdings Limited has been a reliable partner in different areas including insurance and asset management.

On his part, Mosanto Malawi Country Manager, Martin Isyagi, said his company appreciates the expertise of Nico Holdings Limited, particularly on insurance.

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