Business

Malawi stock market updates

May 14, 2021
admin
60 Comments

By Charles Mkula

The National Bank of Malawi (NBM) plc has announced that it has now completed the acquisition of a 51 percent controlling stake in Akiba Commercial Bank plc (ACB) in Tanzania for a consideration of USD 7.31 million.

A statement from MSE says the acquisition, made through a share subscription, is in line with NBM plc’s current strategic plan which has regional expansion as one of its key thrusts.

“This acquisition is expected to bring about growth in the business for both NBM Plc and ACB as it upscales the business of ACB to the standards of NBM plc,” the statement announces.

NBM is listed on the Malawi Stock Exchange with a market capitalization of K304 billion (US$388 million). The investment in ACB is approximately 2 percent of NBMs current market capitalization.

ACB is a Tanzanian bank offering a range of banking and financial services. It was established in 1997 with 300 Tanzanian entrepreneurs as its initial shareholders. It has strong SME roots and operates 18 branches across Tanzania.

Meanwhile, the statement advises NBM shareholders that negotiations are continuing for an additional stake in ACB.

Other trading announcements include ongoing shareholding negotiations by FDH Financial Holdings Limited, the majority shareholder in FDH Bank plc to effect changes in the company’s shareholding structure.

“Shareholders are therefore advised to exercise caution in dealing in their shares and consult professional advisors before dealing in their shares until such time as the result of the negotiations is known,” reads the statement in part.

Further the statement discloses that by the end of December, 2020, Malawi’s NICO Holdings plc, a listed entity on the Malawi Stock Exchange (MSE), registered improved market performance as a result of profits made by its subsidiary, NICO Life Insurance Company Limited.

According to the MSE trading statement, actual adjustments in NICO Holdings’ group profit after tax for the year ended 31st December 2020 are expected to be higher by more than 20 percent from that of the previous corresponding period. Illovo Sugar (Malawi) plc also declared an anticipation of its profit after tax for the half year ended 28 February 2021 to be 60 percent higher than the previous corresponding

60 thoughts on “Malawi stock market updates”

  3. Write more, thats all I have to say. Literally,
    it seems as though you relied on the video to make your point.
    You clearly know what youre talking about, why waste your intelligence on just
    posting videos to your site when you could be giving
    us something informative to read?

    Reply

  4. hi!,I really like your writing very a lot! share we
    keep up a correspondence extra about your article on AOL?
    I require an expert in this space to unravel my problem.
    Maybe that’s you! Looking ahead to look you.

    Reply

  5. Heya i’m for the first time here. I came across this board and I to find It truly helpful & it helped me out
    a lot. I hope to give something again and aid others such as you aided me.

    Reply

  9. I’m impressed, I must say. Rarely do I encounter a
    blog that’s both equally educative and engaging, and without a doubt, you’ve hit the nail on the head.
    The problem is something which not enough folks are speaking intelligently about.
    I am very happy I came across this in my hunt for something relating to this.

    Reply

  11. hello there and thank you for your info ? I have certainly picked up anything new from right here.
    I did however expertise some technical issues using this web site,
    as I experienced to reload the website a lot of times previous to I could get it to load correctly.
    I had been wondering if your web hosting is OK? Not that I’m complaining,
    but slow loading instances times will often affect your placement
    in google and can damage your high quality score if ads and marketing with Adwords.

    Anyway I?m adding this RSS to my e-mail and could look out for a lot
    more of your respective exciting content. Make sure you update this again very soon..

    Feel free to visit my homepage :: Niva CBD Gummies
    Review (Carmen)

    Reply

  16. Hi there, this weekend is good in support of me, because this moment i am reading this fantastic informative post here at my home.

    Reply

  17. May I just say what a relief to find a person that genuinely knows what they’re discussing over the
    internet. You definitely know how to bring a problem to light and make it
    important. More people ought to check this out and understand
    this side of your story. It’s surprising you aren’t more popular
    given that you surely have the gift.

    Also visit my blog – Alpha Edge Pills

    Reply

  19. I’m really impressed with your writing skills and also with the
    layout on your blog. Is this a paid theme or did you customize
    it yourself? Anyway keep up the excellent quality writing, it is rare to see a great blog
    like this one nowadays.

    Reply
  25. Pingback: marlin 1894 cst
  30. Pingback: bikini tik tok women

  60. At the beginning, I was still puzzled. Since I read your article, I have been very impressed. It has provided a lot of innovative ideas for my thesis related to gate.io. Thank u. But I still have some doubts, can you help me? Thanks.

    Reply

Leave a Reply to Yoni Pur Tightening Capsules Cancel reply