Felix Mlusu

Felix Mlusu (born 23 March 1951) is a Malawian financial services executive who served as Minister of Finance in the Government of the Republic of Malawi. Prior to his role in the Government he was Managing Director and Group Chief Executive Officer of NICO Holdings from 1994 to 31 December 2016.

The Honorable
Felix Mlusu
Minister of Finance
In office
29 June 2020 – 24 January 2022
PresidentLazarus Chakwera
Preceded byJoseph Mwanamvekha
Succeeded bySosten Gwengwe
Personal details
Born
Felix Lafiel Mlusu

(1951-03-23) 23 March 1951
Lilongwe, Malawi
Political partyMalawi Congress Party
Spouse(s)
Sabbina Mlusu
​
(m. 1978)​
Children4
Alma materPolytechnic College, University of Malawi (diploma in business studies)
ProfessionChartered insurer
corporate executive

He served as Finance Minister under President Lazarus Chakwera. Mlusu served from the beginning of the Chakwera administration on June 29th 2020 leaving office on January 24, 2022.

Personal life

Mlusu was born on 23 March 1951 in Lilongwe, Nyasaland (now Malawi). Mlusu is married to Sabbina Mlusu, together they have four children and grandchildren.

The couple own a home in Blantyre and are members of St Michael and All Angels Church of the Church of Central Africa Presbyterian - Blantyre Synod.

Mlusu is an avid golfer who enjoys participating in local tournaments.

Education

Mlusu went to Likuni Boys Secondary School where he graduated and was selected to go on to the University of Malawi Polytechnic College in Blantyre where he obtained a Diploma in Business Studies in 1975.

He is a Chartered Insurer (UK), 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, Wits Business School (Johannesburg, South Africa), Guardian Royal Exchange (London, United Kingdom), Munich Reinsurance Company (Munich, Germany), General Insurance Organisation (Sydney, Australia), College Of Insurance (Bombay, India) and Harvard Business School (Boston, United States).

NICO Holdings Plc

Mlusu joined National Insurance Company Limited in 1975 as a management trainee and rose through the ranks to the position of Chief Executive Officer in 1994, the first Malawian to lead the company, previous chief executives were expatriates. Mlusu then went on to become Managing Director and Group Chief Executive Officer of the restructured company NICO Holdings a position which he held from 1996 until his retirement on 31 December 2016.

It was during Mlusu's tenure that NICO Holdings Limited (then the National Insurance Company 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 conglomerate, 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 on numerous boards in various sectors of the economy in the following capacities:

Mlusu has also been instrumental in various capacities in other institutions such as:

  • Member of the Malawi Stock Exchange Committee - Charged with setting up the Malawi Stock Exchange.
  • Executive committee member of the African Insurance Organization (Headquartered in Cameroon)
  • Chairman of the Insurance Association of Malawi
  • Chairman of the COMESA Yellow Card Scheme, Council of Bureaux (Headquartered in Zambia)
  • Chairman of IMPACT - a Private Sector Think-Tank advising the Government of Malawi

Mlusu has also served in several other capacities other than the above-mentioned.

Minister of Finance

Felix Mlusu was appointed Minister of Finance by Dr. Lazarus McCarthy Chakwera, President of the Republic of Malawi on 29 June 2020.

As Minister of Finance, Hon. Mlusu was member of the following institution:

Recognition
  • Mlusu was conferred a Chewa Champions Award in Preserving Culture, National Service and Patriotism, Displaying Unquestionable Character and Promoting Peace by the Chewa Heritage Foundation.
  • Mlusu was named Customer Focused Executive of the Year 2015 and presented with an Award of Service Excellence by the Chartered Institution of Customer Management (Malawi).
  • Mlusu was recognized and honored by Mzuzu University (a Malawi Government University) by being awarded an Honorary Doctorate Degree in Business Leadership (Honors Causa) in March 2017.
  • Mlusu led and implemented a successful leadership succession plan for NICO Holdings Plc conglomerate between 2015 and 2016.

References
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