We have raised capital of over K20 billion for various companies in Malawi operating in banking, hospitality, manufacturing, telecommunications, property holding, motor vehicle distribution and audit through various instruments such as commercial papers, floating rate notes, bonds, subordinated debt and equity financing. We draft term sheets, prepare information memorandums, conduct due diligence reviews, conduct road shows to meet with various investors, facilitate the execution of subscription and facility agreements, settlement of funds and management of the facility during its life.
NICO Mozambique – NICO Asset Managers carried out economic research on Mozambique. Further research was done on the insurance industry and its prospects. A business plan was developed for the establishment of the company. The company was capitalized with USD 2.5 million and commenced operations in June 2012.
NIKO Africa Investment Limited – NICO Asset Managers was involved in setting up a special purpose vehicle in Mauritius. The company worked with Maitland Mauritius Limited, management consultants, and ensured all regulatory conditions by the Financial Services Commission were met. The company was awarded initially a Global Business Licence 2 and this was later converted to Global Business Licence 1 as the company was tax resident in the country.
The company has been involved in valuations of unlisted companies in insurance, manufacturing, financial services, broking and telecommunications.
The company developed a money market nominee fund that has grown from nil to in excess of MWK5 billion in a space of two years. The nominee fund allows individual and companies to invest in money market placements in Malawi.
The company publishes the most comprehensive economic research report in Malawi. This report is published monthly and provides readers with a clear review of the economic environment in Malawi and its outlook. Included in this report are summary highlights on Zambia, Uganda, Tanzania, Mozambique and Zimbabwe. The company has extensive databases on economic data. Research information arises from Reserve Bank of Malawi, IMF, World Bank, National Statistics Office, Malawi Stock Exchange, Economist Intelligence Unit.
Assets under management
The company manages assets on behalf of clients in excess of K160 billion. These assets are in various forms namely equities/shares, government securities (Treasury bills, RBM Repos, Bonds), deposits (various institutions), property (direct and indirect) and loans/corporate bonds.