National Investment Trust Limited (Nitl), a Malawi Stock Exchange (MSE)-listed collective investment scheme, has attributed its 38 percent profit jump in the year ended December 31 2024 to good performance of investee companies.
Speaking during an annual general meeting in Blantyre on Friday, Nitl board chairperson Esther Gondwe said the firm’s profit jumped to K29.76 billion from the previous year’s K21.50 billion.
She said Nitl’s investment income increased by 40 percent, adding that the main driver of the performance was the share revaluation gain on the 16-counter MSE.
Gondwe said most of Nitl’s investments are in equities on the shares market, which has seen good performance from the investee companies.
“In addition, because of that good performance by the investee companies, the dividend that they have declared, which forms part of the investment income, has also been on the increase,” she said.
Minority Shareholders Association of Listed Companies youth chairperson Wyness Yotam Jere challenged young people to embrace the investing culture to contribute meaningfully to the country’s economic growth.
“In terms of how they have performed during the year 2024 compared to 2023, we could see that they have performed really well and we are happy,” she said.
Nitl is an investment trust company licensed by Reserve Bank of Malawi to provide a vehicle to facilitate broad participation in a diverse portfolio of equity investment in Malawi.
