On 6th June 2018, the National Investments Company Limited (NICOL) of Tanzania has restarted trading at the Dar Es Salaam Stock Exchange after being delisted in 2011 for failing to comply with listing regulations.
NICOL was established as a private initiative on 25th June 2003 to economically empower ordinary citizens by acquiring a stake in the economy of Tanzania through the establishment, or acquisition and management of selected viable economic ventures in various sectors of the economy.
The principal activity of the company is to acquire or establish and manage business enterprises in key sectors of the economy such as manufacturing, financial services, telecommunications, agriculture, mining and other sectors.
Trading under the ticker symbol NICO, the company stock traded on its first relaunch day at TZS 300 and closed the day at the same value. Since then the stock has depreciated to TZS 255 on Monday 18th June 2018.
At the end of 2017, the company declared dividends for the first time, paying TZS 25 per share “as the company is doing well”, explained its chairman Gideon Kaunda.
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