The Board of Directors currently comprises of 8 members:

Mr. Rob Scharar, 70, Chairperson and non-executive Director
Mr. Scharar is the President of FCA Corp and provides financial planning and investment advisory services to individuals from various professions and to closely held businesses at FCA Corp. Mr. Scharar graduated from Polk Junior College with an Associate of Arts degree in Accounting in 1968 followed by a Bachelor of Science degree in Accounting from the University of Florida in 1970. In 1971, he received a Master’s in Business Administration from Northeastern University. In 1974, Mr. Scharar graduated from the Northeastern University Law School with a Juris Doctorate degree and further went on to receive a Master’s Degree of Law in Taxation from Boston University School of Law in 1979. Since 1977, Mr. Scharar has been a Director of the American Academy of Attorneys-Certified Public Accountants, Inc. and served as President for two years, from December 1986 to November 1988. In 2009, he was appointed to serve as a Trustee of Florida Southern College. Mr. Scharar serves on numerous corporate boards throughout the United States and abroad.
Mr Vizenge Kumwenda, Director
Mr Vizenge Kumwenda is Group Managing Director of NICO Holdings Plc, a position he has held since January 2016. He has worked for the NICO Group in various senior management positions for over twenty-four years. He Chairs the Boards of NICO Holdings Plc Subsidiary companies. Mr. Kumwenda is a Fellow Chartered Accountant and an Associate member of the Chartered Insurance Institute (UK). He holds a Master of Science Degree (Finance) from the University of Strathclyde (Scotland), a Bachelor of Commerce Degree (Accountancy) and Diploma in Business Studies from the University of Malawi. He brings to the Board a breadth of experience and expertise in finance and investment management.
Mr. Louis Sibande, 46, non-executive Director
Mr. Sibande is a Chartered Management Accountant (ACMA, UK), Chartered Global Management Accountant (CGMA), CA (Mw) and an Associate Member of The Association of Corporate Treasurers in UK (AMCT). He holds a Bachelor of Accountancy degree from University of Malawi and has local and international working experience spanning over 20 years having worked at various levels in the NICO Group. Mr. Sibande is currently Group Head of Risk and Investments Monitoring for the NICO Group, and was previously Chief Finance Officer for NICO General Insurance Company Limited. Mr. Sibande was part of the pioneer management team that set up NIKO Insurance Uganda (now Sanlam Uganda) and NIKO Insurance Tanzania (now Sanlam General Insurance Tanzania). He sits on the boards of Mwaiwathu Private Hospital, Chichiri Shopping Centre Limited, Kang’ombe Investment Limited, Lilongwe City Mall Limited, Eris Properties Mw Limited and NICO Properties Limited.
Mr. Dasford Kamwamba, 65, non-executive Director
Mr. Kamwamba is an accountant by profession. He holds an MBA from Stellenbosch University Business School and is an Associate Member of the Chartered Institute of Secretaries. He is a qualified Chartered Certified Accountant and was awarded a Fellowship (FCCA). Mr. Kamwamba holds a Bachelor degree in Commerce and has over 35 years’ work experience in financial management; strategic management and corporate secretarial matters.
Mrs. Zunzo Mitole, 45, non-executive Director
Mrs. Zunzo Mitole is a lawyer by profession with an LLB (Honours) degree from the University of Malawi. She holds an MBA from Eastern and Southern African Management Institute and is currently the Company Secretary/Legal Counsel of National Bank Plc with 23 years’ experience in litigation; contract management; compliance and corporate governance.
Mr. Simeon Banda, 54, non-executive Director
Mr. Simeon Banda is a Chartered Quantity Surveyor and holds a Bachelor of Science (Honours) in Quantity Surveying. He is a Professional Associate of the Royal Institute of Chartered Surveyors (MRICS); a member of the Surveyors Institute of Malawi (MSIM) and Architects and Quantity Surveyors Board of Malawi. Mr. Banda has 26 years Quantity Surveying, Project Management and Valuation Experience in public infrastructural and institutional buildings.
Mr. Joseph Malingamoyo, 55, non-executive Director
Mr. Malingamoyo is a Chartered Quantity Surveyor and holds a Bachelor’s Degree (Honours) in Quantity Surveying and Construction Economics and an LLM in Construction Law and Practice. Mr. Malingamoyo has over 35 years’ work experience as a Quantity Surveyor and is also a part time lecturer. Mr. Malingamoyo is a Professional Associate of the Royal Institute of Chartered Surveyors (MRICS); a full member of the Surveyors Institute of Malawi (MSIM) and Architects and Quantity Surveyors Board of Malawi and an Associate Member of the Chartered Institute of Arbitrators (UK).
Mr. Graham Chipande, 32, non-executive Director
Mr. Chipande holds an MBA in Finance from Webster University and a Bachelor of Science in Business Management (Honors) from the University of Surrey. He is the Head of Business Banking at Standard Bank Plc and currently sits on the Stanbic Pension Fund Board. Mr. Chipande has over 12 years’ experience in banking and finance and has held various positions at Standard Bank Plc and previously worked as a market analyst at Standard Chartered Bank.
The following are the subcommittees of the main board:

Audit Committee
• Mr Dasford Kamkwamba – non-executive director
• Mr Joseph Malingamoyo – non-executive director

Appointments and Remuneration Committee
• Mr Louis Sibande – non-executive director
• Mrs. Zunzo Mitole – independent non-executive director
Investment Committee
• Mr Louis Sibande – non-executive director
• Mr Dasford Kamkwamba – non-executive director
• Mr Simeon Banda – independent non-executive director