Nico Holdings advises investors to form groups

Nico Holdings plc has challenged potential investors to put their resources in a group to create successful business ventures.

The Malawi Stock Exchange-listed financial services group head of marketing and communications Lorraine Phiri said this last week in Zomba during an investors’ workshop.

She said when like-minded people cooperate, the creation of wealth is possible as they are able to pull resources together and grow them until they reach maturity.

“There is strong need for professionalism, patience and discipline in taking charge of the financial investments to grow productively,” she said.

In his presentation, Investments Alliance Limited (IAL) managing partner Simon Itaye said investors should choose major sectors to invest in to grow their wealth.

He cited IAL which started in 1998 with 18 young Malawian professionals, saying it has invested in financial services sector, food and tourism, information and communication technology and properties.

“Group investments work well with investors of the same age group, professional diversity as well as openness and commitment towards the consortium goals and objectives,” he said.

On his part, Zomba Chingale legislator John Chikalimba, who started business in 1998 when he lost his job, said that in 2014 when he reached 60 years, his savings matured and he started reaping from what he sowed. “Consider investments as the first option by starting to save earlier and stick to your plan to live a comfortable life even at old age. Life could have been a hell for me at this age if I did not start saving earlier,” he said.