NICOL was established as a private initiative on 25th June 2003 by a few individuals who raised equity to inaugurate its incorporation and registration. It was initially registered under the acronym NICO, which was later changed (in 2007) to separate itself from other entities that used the same acronym. The second stage of its incorporation saw the establishment organize funds through private placements that attracted 148 shareholders contributing equity capital of 140 Million Tanzania Shillings, as of 13th December 2003. On 6th March 2004 the Board of Directors recommended in the Annual General Meeting (AGM) for public share subscriptions through an Initial Public Offering (IPO) to restructure the capital base. This was prompted by the need to expand NICOL’s capital structure in order to achieve the company’s mission. The IPO would enable the company to make use of untapped investment opportunities and increase shareholders wealth. The AGM approved, and there after NICOL sought and obtained authorization from the Capital Markets and Securities Authority, which ultimately approved for 80 Million shares of NICOL to the public.

National Investment Company Limited (NICOL) currently has got two active subsidiaries: Tanzania Fisheries Development Company Limited (TFDC) and Tanzania Meat Company Limited (TMCL). TFDC was 100% owned by NICOL and had been involved in processing Nile perch for export to the European Union and other countries. However, TFDC was sold to clear some of the debt that NICOL had from the previous management. TMCL is a meat processing company for beef and other related products. NICOL is in a joint venture with government owned National Ranching Company, with NICOL having a 51% stake in the venture.

NICOL decisions and direction as a company are derived from the Annual General Meeting (AGM), Board of Directors, Investment Committee and the Management.

Annual General Meeting

The shareholders Annual General Meeting is the highest decision-body of the company. The AGM elect the Board of Directors and appoints the external auditors periodically.

Board of Directors

The Board Chairman and Board of Directors are appointed by the shareholders at the Annual General Meeting for term of four (4) years. The Directors are eligible for re-appointment as long as they do not exceed the age of 70 years. The Board is responsible and accountable to shareholders for ensuring that NICOL complies with all relevant aspects of the law and the highest standards of corporate governance and business ethics. The Board provides overall strategic direction, reviews performance and takes material policy decisions. Responsibility for implementing strategy and day to day operations is delegated by the Board to the Chief Executive Officer (CEO). The Board meets regularly to review all policy issues pertaining to operations and effectiveness of internal control and general financial matters, throughout the year.

Investment Committee

Investment committee provides technical advice to the Board of Directors to ensure the shareholders funds are invested wisely in high returns generating projects. It independently advises on the investment priorities and establishes an efficient portfolio for NICOL

Management