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National Insurance Company Limited (NICO Holdings), the Blantyre-based financial services group chaired by Malawian business leader Vizenge Kumwenda, has approved its first interim dividend of $3.61 million for the 2025 financial year. At a board meeting on Aug. 29, a payout of MWK6 ($0.0035) per share was approved—double last year’s MWK3 ($0.0017).
Dividend payout scheduled September 22
Shareholders on record as of Sept. 19 will be eligible, with payments scheduled for Sept. 22. The ex-dividend date is Sept. 17. Alongside the dividend, NICO Holdings said it expects profit after tax for the half year ending June 2025 to rise significantly, reaching between MWK115 billion ($66.3 million) and MWK125 billion ($72.1 million).
This is up from MWK49 billion ($28.3 million) in the same period of 2024, an increase of roughly 135 to 155 percent. Profit attributable to shareholders is projected at MWK59 billion ($34 million) to MWK65 billion ($37.5 million), compared with MWK26 billion ($14.8 million) a year earlier.
NICO Holdings: Leading financial services group in Malawi
Founded in 1971, NICO Holdings has grown into one of Malawi’s leading financial services groups. Its operations span Malawi and Zambia, with investments in Mozambique and Uganda, covering insurance, banking, asset management, and IT solutions—cementing its role as a key player in the region’s financial sector.
Under Vizenge Kumwenda, the company has focused on careful, steady growth. Kumwenda owns 4.93 percent of NICO, or 51,305,142 shares, which entitles him to about $179,568 from the latest dividend. His stake has risen sharply in 2025, increasing by $21.95 million to $34.34 million, driven by a strong rally in NICO’s stock on the Malawi Stock Exchange.
Rising profits boost investor confidence
Kumwenda also holds a 0.386 percent stake in NBS Bank—11,219,041 shares worth MWK9.1 billion ($5.25 million)—strengthening his presence in Malawi’s banking and insurance sectors. With profits rising, and its dividend doubled, NICO is sending a clear message of confidence to shareholders. Despite increasing competition, the company’s performance shows it is well positioned to continue rewarding investors while maintaining steady growth.
