Felix Mlusu


Felix Mlusu is a Malawian financial executive currently serving as Minister of Finance of the Republic of Malawi from 29 June 2020. He is a former managing director and chief executive officer of NICO Holdings Public Limited Company, a Malawian multinational holding company.
NICO Holdings Limited is a financial services organisation involved in the business of general insurance, life insurance, pension administration, banking, mortgage finance, lease finance, asset management and information systems. The company is currently operating in six countries: Malawi, Tanzania, Uganda, Zambia, Zimbabwe and Mozambique.

Early life and education

Mlusu was born on 23 March 1951 in Lilongwe, Nyasaland. He went to Likuni Boys Secondary School where he graduated and was selected to go on to the University of Malawi. He obtained a Diploma in Business Studies from the University of Malawi, Polytechnic. He is a Chartered Insurer, a Member of Society of Fellows of the Chartered Insurance Institute of London and a Member of the Institute of Directors in Southern Africa.
Mlusu has also attended management and technical training at various institutions including The Malawi Polytechnic, Witts Business School, Guardian Royal Exchange, Munich Reinsurance Company, General Insurance Organisation, College Of Insurance and Harvard Business School.

Business career

Mlusu joined National Insurance Company Limited in 1975 as a management trainee and rose through the ranks to the position of General Manager in 1994, the first Malawian to lead the company as all General Managers were expatriates. Mlusu then went on to become Managing Director of the restructured company NICO Holdings Limited a position which he held from 1996 until his retirement on 31 December 2016. It was during Mlusu’s tenure that NICO Holdings Limited became the first company to be listed on the Malawi Stock Exchange and also when the Company was successfully restructured from a composite insurance company to a financial services group, NICO Holdings Public Limited Company. He led NICO Holdings to undertake the first successful foreign investment for a Malawian company making NICO Holdings a multinational holding company.
Mlusu has served in the following organizations in various capacities:
Dr. Mlusu was recognized and honored by Mzuzu University by being awarded in March 2017, a Doctorate Degree in Business Leadership.

Political career

Dr. Felix Mlusu was appointed Minister of Finance of the Republic of Malawi on 29th June,2020, after the Malawi Congress Party and its Tonse Alliance partners led by His Excellency Dr. Lazarus Chakwera won the court mandated re-run of the Presidential Election held on 23rd June, 2020.

Personal life

Mlusu is married to Sabbina Mlusu since 1978. The couple owns a home in the historical suburban neighborhood of Mandala in Blantyre. Together they have five children.