NICO SUBSIDIARIES’ SEARCH FOR STRATEGIC PARTNERS CONTINUES

As the search for investment partners in NICO holdings limited’s subsidiaries continues, the group has cautioned share holders that the agreement has not been finalized especially on entities based outside the country.
The Malawi stock exchange listed conglomerate- is accommodating other strategic equity partners in a bid to strengthen its expertise as the financial institution aims at regional and international market penetration.
The group partnered with Nihilent technologies and Sunlum emerging markets for its locally based subsidiaries; NICO technologies and NICO general insurance respectively.
The group is now bringing the strategic partners in some of its subsidiaries abroad.
“NIKO Insurance Tanzania shares to Sanlam emerging markets is still awaiting fulfillment of a remaining condition guide.” Reads part of the company’s cautionary statement during the week.
The group is, in all deals selling 49% to those strategic partners.
NICO holding limited is one of the two biggest local companies by assets and it has investments and subsidiaries in Malawi, Zambia, Tanzania, Zimbabwe and others.
Some of its subsidiaries or investments in the country include, NBS Bank, NICO Technologies, NICO General Insurance, NICO Life Insurance, NICO Asset Managers, Chichiri Shopping more, amongst others.