Nico Holdings in tourism investments: To build 5-star hotel in Lilongwe

Nico holdings limited plc has unveiled its ambitious plans that will see it constructing a five star Hotel in the country’s capital Lilongwe within the next twelve months.

Kumwenda: Hotel plans

The managing director for the holding company Vizenge Kumwenda told journalists in Blantyre on the sidelines of the holdings extraordinary annual general meeting.

Kumwenda said the project will comprise a five star Hotel which will house 180 rooms, a conference Centre and shopping mall among others.

He said Nico holdings will invest a total of 80 million dollars for the project.

Kumwenda said Nico holdings has also gone into partnership with Elis property developers group limited of south Africa to develop various properties such as residential properties in the country.

“It’s an undeniable fact that tourism is booming in the country and we see a potential in investing in the sector. We have partnered with experts from Elis properties group limited to help us to develop the multi-million kwacha complex,” said Kumwenda

On the 2017 business highlights, Kumwenda described the year as successful as the company received good support from its customers.

The extraordinary general meeting was aimed at appointing and re-appointing Harold Bijoux and Patrick Chilambe, the previous directors who were over the age of seventy years.

Section 169 of the companies act provides that an office of the director shall became vacant at the conclusion of the annual general meeting commencing next year after the director attains the age of seventy; but that a person of over the age of seventy years may by ordinary resolution be appointed or re-appointed as director to hold office until the annual general meeting of the company.

Nico holdingslimitedplc is listed on the Malawi stock exchange {MSE}. It is a mother body for Nico life insurance, Nico general insurance, Nico asset managers, Nico technologies and NBS bank. The group also owns Chichiri Shopping mall in Blantyre.

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4 years ago

Just make sure that you don’t build a poor structure like the Lilongwe City Mall. That design was stupid and the toilets were poorly designed. The Gateway Mall toilets are only two on both ends but very adequate. At your mall when it rains we all feel like we should shelter in one of the shops even when we are peniless. The Gateway guys did a better job than you. Mimick them and then beat them to their design. Gateway Mall fails on a Food Court. Create a food court and attract those with good branded culinary skills to sell… Read more »

4 years ago

We have been hearing about this for too long, we need action not oratory.
Hotel in Cape Maclear by Press, another by Bright Malopa, another by Motal all bed time stories.
So NICO just act and don’t talk if you are serious

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