REGION

As the company positions itself to a continental strategy through its operations in the region, a global sensitivity approach has been developed. In our rapidly changing macro­economic environment, it remains critical for the company to constantly scout for opportunities to expand in the region so as to strengthen its balance sheet to obtain and retain value for shareholders and all interested stakeholders. NicozDiamond has interests in the following:

 

FICO (Equity and management contract)

First Insurance Company (FICO) in Uganda is a NicozDiamond subsidiary with which NDI also has a management and technical services agreement

Diamond General Insurance (Equity and manage­ment contract)

NicozDiamond holds an equity shareholding and a management contract in this Zambian firm. Diamond General Insurance has grown rapidly, achieving in excess of 100% compound growth per annum over the past three years.

UGI Malawi (Management con­tract)

NicozDiamond signed a management and technical services agreement contract to manage this company. Going forward, it is hoped that the strategic alliance will yield the much needed foreign currency that will be channeled towards NicozDiamond operations.

A Mundial (Angola) (Management contract)

This is another opportunity for the compa­ny to generate foreign currency whereby the Angolan insurance firm is given technical manage­ment assistance by NicozDiamond staff at a stipulated fee over a mutually agreeable period of time.