Nico Asset Managers gives Schools Chess K26.7m boost

Nico Asset Managers has unveiled a three-year K26.7 million sponsorship for the National Schools Chess League.

During presentation of the first tranche of K8.9 million to Chess Association of Malawi (Chessam) in Blantyre yesterday, the company’s chief investment officer Daniel Dunga said the package for the final two years might be revised depending on performance.

He said the firm decided to partner the mental sport due to the symbiotic relationship schools chess shares with the company’s beliefs.

Dunga said: “As an investment company, we use the same strategies as chess. We both invest for a better future through strategising, anticipating and competing.

“We are excited to work with the intellectuals’ sport that helps to develop the mind and shape the future.”

Chessam general secretary Gift Howahowa, who was accompanied by publicity secretary Francisco Mwangupiri and schools chess coordinator Margaret Ngugama, said they are happy to have secured the sponsorship. He said 30 schools will participate in the tournament which is expected to start in June.