
Malawian insurance mogul Vizenge Kumwenda gains $10.8 million from NICO stake
Beyond his investment in NICO Holdings, Kumwenda also owns a 0.17-percent stake in NBS Bank, valued at MWK1.73 billion ($1 million).
Beyond his investment in NICO Holdings, Kumwenda also owns a 0.17-percent stake in NBS Bank, valued at MWK1.73 billion ($1 million).
Anadkat and Mpinganjira account for $1.66 billion of the total combined wealth of Malawi’s 15 richest individuals.
Billionaires.Africa profiles Malawi’s 15 richest business leaders, highlighting their industries, key holdings, and financial impact.
Malawi’s economic slowdown hasn’t deterred FDH Bank, whose strategic focus and cost management continue to deliver robust profitability and growth.
This latest surge builds on the strong performance of his stake in 2023, when it increased by MWK178.2 billion ($105.88 million).
The record dividend payout underscores its unwavering dedication to shareholder value and its position as one of the leading groups in Malawi’s financial services industry.
Anadkat remains one of the wealthiest investors on the Malawi Stock Exchange and a prominent figure among the country’s most successful businessmen.
This recent bump in his fortune comes after his stake in FMB Capital Holdings declined by $6 million between Feb. 1 and March 9.
This adds to a $6-million decrease in the value of his holding between Feb. 1 and March 9.
Despite the recent decline in the market value of his stake, Anadkat retains his position as one of the wealthiest investors on the Malawi Stock Exchange.
Arnaud Lagesse, along with his siblings Benoit, Hugues, Jean-Pierre, Thierry, and Stephane Lagesse, collectively holds a substantial 16.8-percent joint stake in IBL Group.
Mpinganjira, the founder of the FDH Bank Plc, owns a 40.7-percent indirect stake in the Blantyre-based lender.
The $20.76-million surge has solidified Anadkat’s position as one of the wealthiest investors on the Malawi Stock Exchange.