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NCIC named amongst top performing State-Owned Enterprises

Home 9 News 9 NCIC named amongst top performing State-Owned Enterprises

The National Construction Industry Council (NCIC) has been named amongst the top performing state-owned enterprises (SOEs) for the year 2022. The announcement was made by the Minister of Finance, Honourable Sosten Gwegwe MP, when his ministry together with the Comptroller of Statutory Corporations signed shareholder expectation letters with the SOEs in Lilongwe on Monday, the 8th of April 2023.

NCIC was ranked 3rd in the regulatory sector after Malawi Communications Regulatory Authority (MACRA), Technical Entrepreneurial and Vocational Education Authority (TEVET). The announcement comes against a background of Government’s on-going review of the relevance of some SOEs.

According to the Minister, Admarc tops the list of worst performers in the trading sector, followed by Blantyre Water Board (BWB) and the National Economic Empowerment Fund (NEEF).

In the regulatory sector, the Minister singled out the Tobacco Commission as the worst performing regulator while naming Egenco, Lilongwe Water Board and Airport Development Limited as best performers, respectively, in that sector.

The news comes at a time when NCIC is looking forward to launching its new Strategic Plan at the month end. The new Strategic Plan is focused on quality of infrastructure as a key driver for the attainment of the Malawi 2063 vision which envisions an inclusively wealthy nation with a citizenry that enjoys sustainable and resilient infrastructure.

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