Felix Mlusu
Felix Mlusu (born 23 March 1951) is a Malawian financial executive, businessman and politician currently serving as Minister of Finance of the Republic of Malawi from 29 June 2020. He is a former managing director and chief executive officer of NICO Holdings Public Limited Company, a Malawian multinational holding company.
Felix Mlusu | |
|---|---|
| Minister of Finance | |
| Assumed office 29 June 2020 | |
| President | Lazarus Chakwera |
| Preceded by | Joseph Mwanamvekha |
| managing director & CEO of NICO Holdings Public Limited Company | |
| In office 1996–2016 | |
| Succeeded by | Vizenge Kumwenda |
| general manager & CEO of National Insurance Company Limited - Malawi | |
| In office 1994–1996 | |
| Preceded by | Jim Bowles |
| Personal details | |
| Born | Felix Lafiel Mlusu 23 March 1951 Lilongwe, Nyasaland |
| Nationality | Malawian |
| Political party | Malawi Congress Party |
| Residence | Mandala, Blantyre, Malawi |
| Alma mater | Polytechnic College, University of Malawi (Dip. Bus.) |
| Profession | Business executive chartered insurer politician |
NICO Holdings Limited is a financial services organisation involved in the business of general insurance, life insurance, pension administration, banking, mortgage finance, lease finance, asset management and information systems. The company is currently operating in six countries: Malawi, Tanzania, Uganda, Zambia, Zimbabwe and Mozambique.
Early life and education
Mlusu was born on 23 March 1951 in Lilongwe, Nyasaland (now Malawi). He went to Likuni Boys Secondary School where he graduated and was selected to go on to the University of Malawi. He obtained a Diploma in Business Studies from the University of Malawi, Polytechnic. He is a Chartered Insurer (UK), a Member of Society of Fellows of the Chartered Insurance Institute of London and a Member of the Institute of Directors in Southern Africa.
Mlusu has also attended management and technical training at various institutions including The Malawi Polytechnic, Wits Business School (Johannesburg, South Africa), Guardian Royal Exchange (London, UK), Munich Reinsurance Company (Munich, Germany), General Insurance Organisation (Sydney), College Of Insurance (Bombay, India) and Harvard Business School (Boston, US).
Business career
Mlusu joined National Insurance Company Limited in 1975 as a management trainee and rose through the ranks to the position of general manager in 1994, the first Malawian to lead the company as all previous general managers were expatriates. Mlusu then went on to become managing director of the restructured company NICO Holdings Limited a position which he held from 1996 until his retirement on 31 December 2016. It was during Mlusu's tenure that NICO Holdings Limited (then the National Insurance Company Limited) became the first company to be listed on the Malawi Stock Exchange and also when the Company was successfully restructured from a composite insurance company to a financial services group, NICO Holdings Public Limited Company. He led NICO Holdings to undertake the first successful foreign investment for a Malawian company making NICO Holdings a multinational holding company.
Mlusu has served in the following organizations in various capacities:
- managing director of NICO Holdings Public Limited Company
- Chairman of NBS Bank Public Limited Company
- Chairman of Blantyre Hotels Public Limited Company- Ryalls Hotel by Marriott
- Chairman of British American Tobacco – Malawi
- Chairman of Chibuku Products Limited – Malawi (South African Breweries Subsidiary)
- Chairman of the Insurance Association of Malawi
- Chairman of the Insurance Institute of Malawi
- Chairman of PTA (COMESA) Yellow Card Scheme Council of Bureaux (Headquartered in Zambia)
- Executive committee member of the African Insurance Organization (Headquartered in Cameroon)
- Chairman of Public-Private Dialogue Forum
Dr. Mlusu was recognized and honored by Mzuzu University (a Malawi Government University) by being awarded in March 2017, a Doctorate Degree (Honoris Causa) in Business Leadership.
Political career
Dr. Felix Mlusu was appointed Minister of Finance of the Republic of Malawi on 29 June 2020, after the Malawi Congress Party and its Tonse Alliance partners led by His Excellency Dr. Lazarus Chakwera won the court mandated re-run of the Presidential Election held on 23 June 2020.
Personal life
Mlusu is married to Sabbina Mlusu since 1978. The couple owns a home in the historical suburban neighborhood of Mandala in Blantyre. Together they have five children.