By Burnett Munthali
Lilongwe – High Court Judge Fiona Mwale has underscored the need for effective property and financial planning to prevent family conflicts that often arise when a breadwinner passes away without a clear will or asset distribution plan. Judge Mwale made her remarks during a property and financial management seminar held in Lilongwe, jointly organized by NICO Group and the Malawi Defence Force (MDF).
Addressing participants at the seminar, Judge Mwale highlighted the growing cases in Malawian courts related to inheritance and property disputes due to the absence of written wills. “There is an urgent need for Malawians to embrace the culture of drafting wills and clear financial plans while still alive. This simple but crucial act could save families from avoidable conflicts, court battles, and financial hardships,” she emphasized. Judge Mwale stressed that failing to have a written will is an oversight that often results in emotional strain and economic instability for surviving family members, as they struggle to agree on asset division.
The seminar, part of NICO Group’s ongoing financial literacy campaign dubbed “Zikumveka Kumbuyoko” (loosely translated as “Make It Clear to Those Behind”), seeks to educate individuals on financial planning, wealth preservation, and retirement strategies. Daniel Dunga, the Chief Executive Officer of NICO Asset Managers, expressed the significance of the initiative. “Our goal is to equip Malawians with the knowledge and resources they need to secure their financial futures. Financial literacy is crucial for everyone, regardless of background or income level. With this campaign, we are hoping to reach as many people as possible,” said Dunga.
The campaign resonates with Malawi’s socio-economic landscape, where financial literacy levels remain low, and many families face financial challenges due to inadequate planning. Through “Zikumveka Kumbuyoko,” NICO Group aims to inspire a cultural shift toward proactive wealth and estate planning.
Brigadier General Dan Kuwali, Commander of the National Defence College, echoed these sentiments, noting that the initiative also targets soldiers who need financial stability both during and after their service. “Our soldiers dedicate their lives to the service of the nation, but they also need to prepare for life after retirement. We aim to provide them with practical skills and tools to manage their finances effectively. It’s about empowering them to secure a stable future for themselves and their families,” said Brigadier Kuwali.
The seminar marks another milestone in the drive toward enhanced financial education across Malawi. With Judge Mwale’s emphasis on clear planning and NICO Group’s resources, participants were encouraged to begin their financial planning journeys, ensuring their assets are well-managed and their families protected.
