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To be the leading asset manager in Malawi.

To deliver consistent, superior investment returns to our clients in a secure environment that protects clients’ funds and promotes staff development, innovation and a passion for exploring new markets in order to increase stakeholder value.

Core Values

We believe in conducting all business in a fair and honest manner.

Social Responsibility
We believe in caring for the environment and giving back to the communities in which we operate by contributing to various charitable, educational and developmental initiatives.

Alliance Capital’s pay-off line is: “Helping You Invest Profitably!”.

We place customers at the centre of our activities, our quest to timely satisfy their needs drives everything we do. Quality service is paramount.

We realize that unlocking the potential of our staff and customers for innovation is key to our survival and that constant appraisal of our offerings should lead to improvements that benefit and retain our customers and attract new clientele.

Vunani Group
Prudential Investments Ltd(PT Daniel)
Augustine Willard Investments
Accord Trust
Employee Share Ownership Trust


We want to strategically position ourselves as an innovative leading player in pension fund management, collective investment schemes, individual and institutional portfolio management, money market brokerage and corporate financial advisory services. Provision of these services shall be anchored by our ability to add value to clients’ portfolios through a combination of superior investment decisions and responsiveness to client needs.

Our key competitive advantage in penetrating the market will continue to be based on:-

  • Research based and well thought out investment decision making
  • Setting clearly defined risk
  • Investment return with agreed portfolio mixes and performance benchmarking
  • Accountability and transparency to the customer with provision of detailed information on client account activity, performance and charges.
  • Differentiation on the basis of offering a full range of activities e.g. offshore hard currency investments and property management.
  • Providing accurate and prompt reporting within agreed timeframes
  • Security of investments backed by our professional approach, adherence to good governance and best practice( e.g. having an in-house investment management committee and appointment of independent scrip custodian).


    Protection of investors’ funds is paramount and forms an integral part of our business philosophy. Key components within this framework are as follows:-

    i. Strict compliance with Reserve Bank of Malawi regulations as our supervisory authority;

    ii. ACL values and observes good governance and has structures in place to ensure that its entities are properly run to achieve long term profitability and growth, adhere to client mandates and achieve superior returns.

    a.) Board of Directors comprised of upright, stable and highly influential members of society.

    b.) Board Committees in the form of a Finance & Audit(Members: Audrey Mwala(Chair), Thom Daniel, Anderson Kulugomba, Lekani Katandula). Appointments and Remuneration(Members: Den Lungu(Chair), Alice Bwanausi) and Risk(Members: Lekani Katandula(Chair), Thom Daniel, Alice Bwanausi) and Investment Management(Members: Audrey Mwala(Chair)Anderson Kulugomba,Alice Bwanausi, Thom Daniel) that look at issues in those areas in depth and report to the Board accordingly.

iii. Professional Indemnity and Fidelity insurance

ACL transacts through a nominee account for its many investors, to ensure that client transactions are separate from those of the company. It also ensures that client funds are protected from default and settlement risk as follows-

  • Liquid and tradable securities are surrendered by the institutions we trade with and delivered or kept on behalf of our clients where no counterparty limits exist.
  • Securities are released after transactions are concluded such that the company is at no point exposed to its counterparties

We service a cross-section of clients - corporate, institutional and individual - operating in and engaged in a diverse range of industries and activities.


    We service a cross-section of clients - corporate, institutional and individual - operating in and engaged in a diverse range of industries and activities.

    • i. Maintain accurate investment transactions
    • ii. Provide timely portfolio valuation reports
    • iii. Observe in-house compliance through its front , middle and back office functionality, which helps us to safeguard client assets.
    • iv. Observe compliance in respect of exposure, risk tolerance and counterparty levels which can be set for each fund.
    • v. Track the movement and presence of securities through the system