NICO Pension, NICO Asset Managers and NICO Life today jointly committed MWK 40 million towards equipment for selected Malawian micro, small and medium enterprises (MSMEs) in the Agricultural Sector, helping them translate business training into practical investments for growth.

The commitment, made under the Group’s One NICO approach, was formalised at a signing ceremony and symbolic cheque presentation at NICO House in Blantyre. It supports agri-businesses participating in the More Income and Employment in Rural Areas (MIERA III) and Employment Promotion for Women for the Green Transformation in Africa – Malawi (WE4D) project, implemented by GIZ on behalf of the German Federal Ministry for Economic Cooperation and Development (BMZ).

The Agri-businesses have already received business development training and coaching through MIERA III and WE4D that helped them improve their business plans as well as develop strategies to become more climate resilient and gender inclusive.  One NICO’s contribution will support equipment procurement to enable them to put their business plans into practice, improve productivity and strengthen their ability to respond to climate-related challenges. The Agri-businesses will be selected through a competitive pitching process.

Speaking at the ceremony, the NICO Pension CEO Gerald Chima said the partnership reflected the One NICO Group’s commitment to supporting enterprise development.

“Business training lays the foundation, but entrepreneurs also need the tools to put that knowledge to work. Through One NICO, we are bringing our resources together to help these businesses take that next step. By investing in their growth and resilience, we are supporting opportunities for greater productivity, employment and income for Malawians,” Gerald Chima said.

Angelika Friedrich, Head of the Southern Africa Division at GIZ HQ in Germany, emphasises the impact of the MoU.

“For us, this is more than simply the signing of a Memorandum of Understanding. It represents a shared commitment to working together to address the challenges Malawi’s private sector and, in particular, our Micro, Small and Medium Enterprises in the agricultural sector, face. These agri-businesses that will be supported through the MoU play a key role in the economy in the future and have enormous potential to create income, employment and opportunities for youth and women as well as contribute to a green and gender-inclusive economy through innovation.”

The partnership builds on MIERA III and WE4D’s work to strengthen sectoral framework conditions for MSMEs and contribute to an improved and more enabling business environment, as well as expand support for MSMEs and promote climate smart and gender inclusive practices. The partnership connects business development support with equipment investment, helping participating enterprises move from learning to implementation.