NICO Life, NBS Bank boost newly-launched Poly Student Society of Banking  

NICO Life and NBS Bank on Friday were among the guests gracing the official launch of the Student Society of Banking and Finance at the Polytechnic in Blantyre as a gesture of solidarity to foster a lasting partnership towards Banking and Finance degree programme.

Chapola (left) and Chithenga cutting the ribbon to declare the Society open

the official launch of the Student Society of Banking and Finance at the Polytechnic in Blantyre
Posing for group photograph

Banking and Finance was initiated at the Polytechnic over three years ago and now that it has settled well, the students themselves decided to establish the society with intent of connecting well with the corporate world.

The official launch was sponsored by NICO Life, NBS Bank and the Reserve Bank of Malawi.

The Society’s patron Augustine Chithenga, who is acting head of department, said the idea to form the grouping was mooted and as a veteran banker himself guided them on the proper logistics to go about it.

He said the Society prepares the students on ethics and morals as they looking forward to joining the financial service industry.

NICO Life and NBS Bank, both subsidiaries of NICO Group and is the biggest financial services group in Malawi, used the launch to inspire the students and also of the services they offer.

NICO Life Chief Executive Officer, Eric Chapola told the students to be what they want to be by standing out from the crowd.

“Be the first to move, if someone isn’t doing it, then do it yourselves because if you can’t think of it, someone else can and become your main competitor.

“Set unrealistic goals because if they were reasonable, achievable and realistic, then they are not goals but basics.


“Don’t fret about how you will get to the mountain top, just obsess in detail about what you will do in the next days, weeks, months, years!” Chapola said.

He encourage them to work hard if they want to join the financial services industry and once they find employment, they should never have unrealistic expectations — thinking once they get a job then that means being a boss.

“Not in our industry — you rise through the ranks because you have to know each and every points of any department.

He impressed on them that he started the insurance industry as accounts clerk to CEO for Commercial Union that later changed to CGU Insurance for 20 years (1984 – 2004).

He has worked for NICO General for over 10 years and at one point he got stationed to NICO Uganda (2004 – 2007).

Local companies for NICO Group are NICO Life; NICO Pensions Services; NICO General; NICO Asset – Eris Properties & NICO Properties; NICO Technologies; NBS Bank and ICON Properties.


He took them through the services that NICO Life, a leading provider of life insurance services in Malawi, provides such as life insurance; individual life insurance policies; funeral covers — both group & individual products and annuities.

The NICO Group is the biggest financial services group in Malawi and also the first to have subsidiaries outside of Malawi with operations in Zambia, Tanzania, Uganda and Mozambique.

Established in 1971, it was the first to register on the Malawi Stock and the group has interests in Life and General insurance, pension services, investment management, banking, information technology, hospitality (Ryalls Hotel) and even health.

Follow and Subscribe Nyasa TV :

Sharing is caring!

Follow us in Twitter
1 Comment
oldest most voted
Inline Feedbacks
View all comments
4 years ago

ah not NBS too many errors. they need over the counter money machine . umbanda zeedi.
they can give you 100 pin pali 90 pin bunch.

Read previous post:
FDH Bank unveils intercity K165m Mayor’s Trophy

FDH Bank has unveiled the  K165 million intercity Mayor's trophy which will be participated by the youth and primary schools...