MPICO Plc shines in 2024, registers a 17 percent profit
Published on June 23, 2025 at 5:46 PM by Robert Ngwira
One of the country’s major Real Estate and property managing firms, MPICO plc has made a Profit of K12.2 billion after tax, in 2024 representing a 17 percent growth.
The growth is slightly higher as compared to the year 2023 where the company registered a mk7.1 billion profit after tax.
This was revealed today during stakeholders meeting held at Mount Soche Hotel in Blantyre.
In his speech Old Mutual Investment Group Acting Managing Director Mphatso Kasalika said despite the economic challenges experienced in 2024, the company performed well.
“For 2024 the company performed well amidst economic challenges. The rental income growth was good. We also noted the uplift items of the property value which is a good thing for property business. It means we are taking good care of our properties and our tenants are happy with our premises.
“All in all it was a good year looking at the bottom line-profit after tax. The growth was quit strong from MK7.1 billion to MK12.2 billion. This is an exciting news to our shareholders,” said Kasalika.
The company has since revealed plans to venture into hospitality industry.
One of the shareholders Frank Harawa hailed the company’s plans to venture into other business avenues.
“Investing into mining, hospitality and other areas is good because the Malawi’s economy is not performing and it is good for Mpico to diversify its business for it to still remain on the market,” said Harawa.
Mpico Plc is a company under Old Mutual Malawi Group and is listed on the Malawi Stock Exchange.
