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Nico plans new investment firm

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Nico Holdings Limited plc has disclosed plans to launch a new investment firm to be called Nico Capital.

The firm is expected utilise the idle pension funds and afford investment opportunities to private investors in various ventures in the country.

This was revealed over the weekend on the sidelines of a press briefing where the company announced its performance in 2020.

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The Group’s Managing Director Vizenge Kumwenda said their plan is to roll out the company on May 1, 2021.

“We want to promote investment in the country which will benefit our clients because we are one of the biggest life insurance companies in Malawi and biggest pension managers, with that, we are collecting policy holder’s money and we need to invest,” Kumwenda said.

He said the company will also focus on structuring businesses and explore investment opportunities while linking them to the potential investors.

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Commenting on the development, Blantyre based market analyst Cosmas Chigwe commended the company for the development.

“More focus on private equity and even debt is exactly what this country needs. The Pension Fund Act enhanced capital funds that can be drawn from pension funds and will always be growing.

In a separate interview Chancellor College based economist Laston Manja advised the company to come up with products that will incorporate small scale investors.

He said this will not only help the company’s footprint but also spur economic growth through financial inclusion.

The company joins a number of players on the market such as Bridgepath Capital and Cedar Capital.

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