Nico group strategise on its business
Listed-Malawi Stock Exchange insurance firm, Nico Holdings Limited, jointly with executives and senior managers from Zambia, Tanzania, Uganda and Mozambique held a three-day extensive and prolific brainstorming session of their business strategies for the 2015-2019 financial year.
During the conference, which was held under the theme ‘leading change for positive results,’ the group among other issues, discussed where the companies are coming from, forecasts to year end and prospects for the future.
In his remarks, Nico Holdings Limited managing director Felix Mlusu applauded the effort made by executive and senior managers to protect and grow the shareholder’s and investor’s interest.
“It is pleasing that people in senior positions have made efforts in growing our business. Let us continue with this culture and treat staff as the most valuable asset for the company,” he said.
The group further discussed opportunities and challenges faced in various companies of the group and solutions with proper business plans and tactics. It also discussed the need to treat staff members with outmost integrity and as most valuable assets of a company.
In the first half of this year, the financial services group raised its profit-after-tax of 14 percent from K2.5 billion in 2013 to K2.9 billion in 2014 and achieved premium growth of 24 percent over the same period last year following which an interim dividend of 35 tambala per share, representing K365 million was paid.
Recently, Nico Holdings Limited’s general insurance subsidiary entered into partnership with South African life insurer- Sanlam Emerging Markets Limited under which the company will have access to markets that are also penetrated by Sanlam and enable the Nico group insurance to have access to Sanlam’s expertise in staff training, product development, risk management, information technology underwriting and customer care.
