Malawi’s 20 richest investors and their investments

Malawi’s economy, long anchored in agriculture, is being reshaped by a new generation of deep-pocketed investors whose capital spans banking, telecoms, infrastructure, media, and real estate.

From Blantyre’s financial district to large-scale farming estates and cross-border ventures in Southern Africa, these business leaders are driving credit expansion, modernizing infrastructure, and creating thousands of jobs in one of Africa’s most resilient frontier markets.

Finance remains the nerve center of wealth creation, with banking titans building regional platforms that stretch beyond Malawi into Zambia, Mozambique, Botswana, and Zimbabwe.

Agriculture continues to underpin fortunes, while infrastructure and property development are unlocking urban transformation. Meanwhile, media and telecommunications investors are powering Malawi’s digital and information economy.

Despite currency pressures, policy uncertainty, and fluctuating commodity prices, these investors have demonstrated resilience through diversification and regional expansion.

Their influence extends beyond boardrooms: many fund schools, hospitals, and community projects, embedding philanthropy into enterprise.

Together, Malawi’s 20 richest investors, chronicled by Shore Africa, represent not just personal wealth, but strategic capital shaping the country’s financial depth, food security, connectivity, and long-term economic trajectory.

1. Hitesh Anadkat
Holdings: FMB Capital Holdings
Indian-Malawian financier Hitesh Anadkat, the founder of FMB Capital Holdings, has built a financial empire that dominates Malawi’s banking sector. Established in 1995 as First Merchant Bank, the Mauritius-based financial services group has expanded across multiple African markets under its leadership. Anadkat’s sharp business instincts and ability to recognize opportunities early have positioned FMB Capital as a market leader. Anadkat’s 45.32% stake, equivalent to 1.11 billion shares, is currently valued at MWK3.06 trillion ($1.77 billion)

2. Thom Mpinganjira
Holdings: FDH Bank Plc
Thom Mpinganjira, one of Malawi’s most influential businessmen, is the founder of FDH Bank Plc, a leading commercial bank listed on the MSE. Through his ownership of M Development Ltd., he indirectly controls a 40.7% stake in the bank, securing his place among Malawi’s richest. Despite his financial success, Mpinganjira’s reputation is overshadowed by past legal troubles. In 2021, he was sentenced to nine years in prison for attempting to bribe judges handling the 2019 presidential election case. The scandal tarnished his legacy but did little to shake his financial standing in Malawi’s banking sector.

3. Rasik Kantaria
Holdings: FMB Capital Holdings
Kenyan investor and banker Rasik Kantaria controls a 21.36% stake in the regional banking group, equivalent to about 525 million shares. The Kenyan financier and founder of Prime Bank, Kantaria is a key regional investor whose sizable stake in FMB Capital gives him major influence in Malawi’s banking sector and on the MSE. A Kenyan financier and founder of Prime Bank, Kantaria is a key regional investor whose sizable stake in FMB Capital gives him major influence in Malawi’s banking sector and on the MSE.

4. Leston Mulli
Holdings: Mulli Brothers Limited
Owner of Mulli Brothers Limited, Mulli built a diversified empire in agriculture, transportation, and real estate. His farming operations leverage Malawi’s fertile land, while logistics and property holdings deepen domestic supply chains. Mulli’s investments underscore agriculture’s enduring role in wealth creation and employment generation across the country.

5. Simbi Phiri
Holdings: Khato Civils
Founder and chairman of Khato Civils, Simbi Phiri, has established himself as a major player in Africa’s construction industry. His company operates in Malawi, South Africa, and Botswana, securing multi-million-dollar contracts for large-scale infrastructure projects. Among his firm’s most significant projects are the $351 million Salima-Lilongwe Water Supply Project in Malawi and the 100-kilometer Masama-Mmamashia Water Pipeline Project in Botswana. His influence extends across bulk earthworks, water supply, and energy infrastructure, reinforcing his impact on Africa’s development. His engineering ventures position Malawi as a contributor to continental infrastructure solutions, reinforcing the strategic importance of construction and utilities investment.

6. Faizal Aboo
Holdings: FDH Financial Holdings
A key shareholder in FDH Financial Holdings, Aboo has built substantial wealth through strategic banking investments. His role in scaling Malawi’s financial services ecosystem highlights the importance of private capital in strengthening liquidity, credit access, and institutional growth within the economy.

7. Shepherd Bushiri
Holdings: Shepherd Bushiri Investments (SBI)
Bushiri blends religious leadership with business interests spanning real estate, mining, and telecommunications. His property developments and cross-border ventures have fueled both controversy and economic activity. Despite legal and political headwinds, his diversified portfolio reflects resilience and regional ambition.

8. Jimmy Korea Mpatsa
Holdings: Mpatsa Holdings
Jimmy Korea Mpatsa, a seasoned Malawian businessman, has built a diverse investment portfolio spanning farming, tourism, real estate, and transportation. He owns multiple lodges, farms, and commercial properties across Malawi and beyond. Mpatsa is known for his entrepreneurial insights and mentorship, encouraging young businesspeople to explore industries beyond agriculture. His portfolio reflects Malawi’s diversified growth potential, leveraging agriculture while expanding into hospitality and urban real estate.

9. Vizenge Kumwenda
Holdings: NICO Holdings
The Group Managing Director of NICO Holdings, Vizenge Kumwenda, has played a key role in Malawi’s financial services sector. His over 4.8% stake in the company is valued at over $24 million. Kumwenda also holds a minority stake in NBS Bank, further solidifying his influence in Malawi’s banking and insurance industries.

10. Nathan Mpinganjira
Holdings: FDH Bank Plc 
Nathan Mpinganjira, brother of FDH Bank founder Thom Mpinganjira, holds over 5% stake in the bank. His stake underscores the Mpinganjira family’s lasting influence in Malawi’s financial sector, despite the legal challenges surrounding his brother.

11. Abraham John Simama
Holdings: Simama Industries, Simama Hotel
Abraham John Simama is a businessman, preacher, and philanthropist. As the founder of Simama Industries, he has built a business empire spanning construction, real estate, and agriculture. He also owns Simama Hotel, a high-end hospitality venture in Lilongwe. Beyond business, he is the senior pastor at Glorious Light International Church and serves as chairman of the Northern Region Football Association, combining commerce, faith, and sports in his influence. His diversified investments contribute to urban development and tourism infrastructure, sectors critical to Malawi’s economic diversification.

12. Ramesh Haridas Savjani
Holdings: Ilovo Sugar Malawi
The chairman of General Alliance Insurance, Ramesh Haridas Savjani, maintains a strong presence in Malawi’s financial sector. With over 2% in Ilovo Sugar Malawi, he remains a key player in the country’s sugar industry, reinforcing his influence in the nation’s economic landscape. Savjani’s interests lie in insurance and the agro-industry. His investments highlight the synergy between risk management services and Malawi’s sugar-driven agricultural exports.

13. Gospel Kazako
Holdings: Zodiak Broadcasting Station
Gospel Kazako, a former journalist at Malawi Broadcasting Corporation (MBC), ventured into private media with Zodiak Broadcasting Station (ZBS). After facing regulatory challenges, he secured a broadcasting license in 2005, building ZBS into one of Malawi’s most influential media houses. Today, ZBS operates over 25 transmission sites and was granted a TV broadcasting license in 2012. Kazako’s success in media has propelled his net worth to $15 million, and he currently serves as Malawi’s Minister of Information. His broadcasting investments have strengthened independent journalism, advertising markets, and the country’s information economy.

14. Natasha Nsamala
Holdings: NICO Holdings Plc
Natasha Nsamala, CEO of Malawi Blood Transfusion Service, is a key figure in Malawi’s healthcare sector. Under her leadership, MBTS has strengthened blood collection, storage, and distribution, ensuring a reliable supply for hospitals. Beyond healthcare, she holds a minority stake in NICO Holdings. Her influence extends beyond the corporate sphere as she continues to champion improved healthcare services in Malawi. Natasha Nsamala is a rising figure in healthcare and finance, Nsamala’s leadership in health-sector institutions underscores growing private participation in medical services and public health management, an emerging frontier for impact-driven investment

15. George Chitera
Holdings: FDH Bank PLC
As a senior executive at FDH Bank, George Chitera holds nearly 0.5% stake in the company. His dual role as both a key decision-maker and investor underscores a keen alignment of professional influence with strategic financial positioning.

16. William Mpinganjira
Holdings: FDH Bank Plc
William Mpinganjira, son of business tycoon Thom Mpinganjira, is carrying forward the family’s legacy in banking. He owns nearly 0.5% stake in FDH Bank Plc. His investment reflects a continued commitment to strengthening the institution his family helped build.

17. Sangwani Hara
Holdings: NICO Holdings Plc
Sangwani Hara, a key figure in Malawi’s business and agricultural sectors, balances multiple leadership roles. As group company secretary and financial manager at Makandi Tea & Coffee Estate, and chairman of the Tea Association of Malawi Limited, he plays a vital role in shaping the country’s agricultural policies. His nearly 1% stake in NICO Holdings positions him as an influential player bridging the agricultural and financial industries. Hara’s professional roles in agriculture and corporate finance, coupled with his stake in NICO Holdings Plc, position him as an important link between financial services and Malawi’s agricultural economy.

18. George Partridge
Holdings: National Bank of Malawi, Telekom Networks, Press Corporation Plc
George Partridge, CEO of Press Corporation Limited, one of Malawi’s largest conglomerates, has built a well-diversified investment portfolio. His minority stake in Press Corporation and nearly 0.2% stake in National Bank of Malawi PLC bring his total holdings. His additional investments in Telekom Networks highlight a broad approach to wealth management, spanning banking, telecommunications, and industrial sectors.

19. Juliana Chidumu Somba-Banda
Holdings: FDH Bank Plc
Juliana Chidumu Somba-Banda is a seasoned economist, diplomat, and life coach, currently serving as the First Secretary for Trade and Investment at the High Commission of Malawi to India. With expertise in economics, agriculture, international trade, and policy analysis, she has played a significant role in fostering economic development. Beyond her diplomatic work, Somba-Banda is a sought-after public speaker and image consultant, helping individuals and organizations strengthen their professional presence. She is also a board member at FDH Financial Holdings Limited, where she holds a 0.13% stake in FDH Bank Plc. 

20. Napoleon Dzombe
Holdings:  Agribusiness and industrial investor
A veteran entrepreneur and philanthropist, Dzombe has significant investments in food production, rice milling, sugar, and biodiesel technology through his companies, such as Mtalimanja Holdings Ltd and Madalitso Food Production, contributing to industrial and agricultural growth.