By Suleman Chitera

Lilongwe, Malawi – Malawi’s hospitality and tourism sector has received a significant boost following the launch of Safari Plan, a specialized insurance product developed by MiNET in partnership with NICO General Insurance.

The new insurance solution was officially unveiled in Lilongwe on Tuesday, with industry stakeholders and government officials describing it as a timely innovation that addresses the unique risks faced by businesses operating in the tourism and hospitality sector.

Speaking during the launch, MiNET Managing Director Delvin Khongono said Safari Plan was designed to bridge a long-standing gap in the insurance market by providing tailor-made coverage for hotels, lodges, tour operators, travel agencies, restaurants, and other tourism-related businesses.Chilima Participates In One Nico Golf Tournament

Khongono said the product reflects MiNET’s commitment to developing practical insurance solutions that respond to the evolving needs of Malawi’s economy while helping businesses manage risks more effectively.

NICO General Insurance Chief Executive Officer Donbell Mandala said the partnership demonstrates the company’s dedication to supporting one of Malawi’s fastest-growing economic sectors through innovative financial protection.

Mandala noted that businesses in the hospitality and tourism industry face a variety of operational risks, making specialized insurance products essential for ensuring business continuity and protecting investments. NICO Group announces K1 billion sponsorship for Malawi Queens and top-12 netball cup

The Reserve Bank of Malawi also welcomed the initiative.

Director of Pension and Insurance Supervision Kaluso Chihana said Safari Plan aligns with the government’s vision of strengthening tourism as a key driver of economic growth under the Agriculture, Tourism and Mining (ATM-M) Strategy.

Chihana said expanding insurance coverage within strategic sectors enhances resilience, encourages investment, and contributes to sustainable economic development.

Industry players attending the launch also expressed optimism that the new insurance package will improve confidence among investors and tourism operators by offering protection against unforeseen events that could disrupt business operations.NICO Group condoles families of five artists lost in Ntcheu road tragedy

The tourism industry remains one of Malawi’s priority sectors due to its potential to create jobs, generate foreign exchange, and stimulate local economic development. Stakeholders believe innovative financial products such as Safari Plan will help accelerate the sector’s growth by reducing business risks and encouraging expansion.

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The launch of Safari Plan marks another step toward strengthening Malawi’s insurance industry while supporting the country’s broader ambition of transforming tourism into a major contributor to national economic growth.