BIHL Buys Stake In Malawi Firm

Diversified financial house, BIHL Group, says it plans to buy a 25.1% stake in the Malawian Insurance and asset management company, Nico Holdings, for P145 million.

In a notification to the Botswana Stock Exchange, BIHL said the opportunity presented to buy 261,760,272 shares representing 25.1% issued share capital in Nico is attractive because Nico’s business is well diversified into a number of financial services spanning over five countries in Southern Africa.

“It further offers BIHL an opportunity to expand into Southern Africa at a market related price with attractive growth opportunities and enhanced return on group equity value.

Editor's Comment
Happy Independence!

We are 56 years old and what do we have to show for it? Looking at where Botswana started and where it is today, there are a lot of developments, but whether the developments match the number of years we have enjoyed as a country is a topic for another day.The fact that cannot be denied is we have seen major developments, but we are still lacking in several pertinent areas.Our beautiful country imports almost everything. We import fuel, food,...

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