A cautionary statement the National Investment Trust Limited (NITL) plc has projected a 75% drop in profit for the six months-period ending June 30 2020.

In April this year, the company said that the then occurring  political tension and the emerging COVID-19 pandemic is likely to affect the performance of the companies NITL has invested in. “However, the impact is expected to be mitigated by the fund manager NICO ASSET MANAGERS who

are keenly watching the market.” said part of the report released last April.

The National Investment Trust Limited (NITL) was incorporated in Malawi as a public company on 20th September 2001. The Principal objective of NITL is to provide a vehicle to facilitate broad public participation in a diverse portfolio of equity investments in Malawi. NITL has been licensed as an investment trust company by Reserve Bank of Malawi in terms of the powers vested in it by Section 35 of The Capital Market Development Act.