National Investment Trust targets K100 billion posts by 2027
Director and chairperson of the Board, Esther Gondwe says National Investment Trust (NITL) Plc has set a target of K100 billion posts in the next 5 years.
She disclosed this during a stakeholder engagement meeting at Ryalls Hotel in Blantyre where it was sharing the company’s performance for the previous 5 years as well as opening doors and encouraging other new investors to start buying NITL shares and also to make them understand the benefits of belonging to the company.
Gondwe said they are happy with the performance and growth of the company which has been impressive within a short period of its existence, saying they are expecting to post K11.5 billion in its 2023 half year by June from K1.5 billion realized same period in 2022 since the Malawi Stock Exchange-listed company has made good profits.
“Our journey has been successful for the past 5 years except the period of CoVID-19 where things was tough but since we have a vibrant investment committee and managers we managed to survive.
“Currently we are targeting to post K100 billion by 2027 and it is our hope that this vision will be fulfilled,” she said.
NICO Asset Managers Chief Investments Officer, Daniel Dunga described NITL’s performance as amazing considering its 5 years of operation, saying the K100 billion posts plan by 2027 is a long term vision and they are considering to bring various investments strategies in order to make it reality.
“We have already calculated that we need to grow at a pace of 25% every year for the next 5 years in order to reach to the targeted amount,” Dunga said.
“This will consider the investments strategy, how to unlock liquidity as well as non-traditional investments.”
One of the stakeholders, Frank Harawa applauded NITL for its good performance and described its idea of realizing K100 billion in 2027 as a possible plan, saying once the company continues performing well it will see shareholders share price going up and people will scramble for the shares.
