NICOL goes strong, shares value jump to 65bn/-

The National Investments Company Limited (NICOL) said that it was going strong, with its value surging almost eight times to 65bn/- in its eight years of operations.

The company value, calculated by existing share value appreciation, has increased from 8.4bn/- in 2005 to 65bn/-, with a big portion of the shares invested in the National Microfinance Bank (NMB).

NICOL Chairman Felix Mosha (pictured) assured shareholders that their shares were in safe hands despite all the negative talks engulfing the company.

“It is only that some people want to tarnish the image of NICOL but let me assure shareholders that their investments are in safe hands,” said Mr Mosha whom the court recognises as the legal chairperson of the company.

“I am still a legal chairman, until the court proves otherwise,” maintained Mosha who also chairs the Confederation of Tanzania Industry (CTI).

He said NICOL’s Tanzania Meat Company generated 2.4bn/- in 2012 and once the financial results are out, there are expectations of posting an 800m/- profit.

“We have revived the only meat export firm in the country from loss making to profitability,” he said. The Dar es Salaam Stock Exchange suspended NICOL from the bourse in 2011, the move that dented investors in the company.
Source: Daily News, reported by Abduel Elinaza, from Dar es Salaam, Tanzania
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