Nico General opens office at Songwe border
In a quest to expand its customer base and grow its business, one of the country’s general insurance companies, Nico General Insurance, has opened an outlet at Songwe Border in Karonga District.
The new office is expected to supply products such as third party and comprehensive insurance cover for imported in transit vehicles crossing the border into the country.
Nico General Chief Executive Officer Donbell Mandala said the company is targeting a diverse market including international companies coming into Malawi in need of insurance products right at the border.
“We saw that most of the goods imported to Malawi, around 50 percent pass through Songwe. Songwe is a big component in terms of economic development of Malawi so in our business 60 percent of business comes from the motor insurance cover and therefore we felt that this is a key border for us to grow,” Mandala said.
Acting District Commissioner for Karonga David Gondwe said the development shows that the district is growing.
“Songwe is our biggest satellite town and it is ever busy. There are a number of businesses happening here. So it is really pleasing to see that companies such as Nico coming here to open offices,” Gondwe said.
Meanwhile Nico, which now has four offices in Malawi, has said plans are in the pipeline to open similar offices in all border districts.