Vizenge Kumwendas 4.93 stake in NICO Holdings has surged by 21.95 million in 2025, now valued at 34.34 million.
NICO Holdings FY2024 profit climbed 128.9 to 77.53 million, fueled by stronger insurance, banking, and investment performance.
Shares of NICO have soared 176.7 this year, boosting its market cap above 685 million and reinforcing investor confidence.
Malawian insurance magnate Vizenge Kumwenda has seen his wealth surge this year, with the value of his stake in NICO Holdings Plc climbing by 21.95 million in 2025 to 34.34 million, fueled by a sharp rally in the Blantyre-based financial services groups shares on the Malawi Stock Exchange MSE .
Kumwendas growing wealthAs the Managing Director of NICO Holdings, Kumwenda has played a key role in shaping Malawis financial services sector. His 4.93-percent stake, equivalent to 51,305,142 shares, has gained MWK37.99 billion 21.95 million since January, benefiting from a surge in NICOs stock on the MSE.
This follows a 7.66 million increase in 2024, when the value of his stake grew from MWK7.57 billion 4.49 million to MWK21.08 billion 12.15 million. The steady gains reflect growing investor confidence in NICO Holdings, which saw its share price more than triple last year.