Expert tips Malawi to capitalise on cooperatives

 

A Ugandan expert has said cooperatives in Malawi should aim at reducing the high unemployment among the youth by giving them business and job opportunities.

African Confederation of Cooperative Savings and Credit Association (Accosca) chairperson Josephine Nabuyongo made the remarks on Saturday in Lilongwe during a press briefing ahead of the 18th Savings and Credit Associations of Africa (Sacca) congress next week.

Mussa (L), Nabuyongo (c) and Accosca chief
executive officer, George Ombado

“The cooperative industry can help to reduce unemployment and with the record that Malawi has on cooperatives, this is a great opportunity to fill the unemployment gap which exists,” said Nabuyungo.

She said with a vibrant and supported cooperative industry, more youths can access loans to startup businesses while others could join the industry as employees.

Malawi will host the 18th congress from 24th to 27th October at the Bingu International Convention Center (BICC) in Lilongwe where over 500 delegates from across the world are expected to attend.

Minister of Industry, Trade and Tourism Henry Mussa said hosting the congress is an advantage to Malawi because the tourism sector will benefit a lot.

“The delegates will not just come for the congress, the fact that they will be lodging and feeding in the country means business for our hotels and resorts. Some of them will even visit our tourism sites,” said Mussa.

He said following a similar congress which took place in 2007 in Blantyre, Malawi has registered a remarkable improvement in the cooperative industry and hopes after this year’s congress, the industry will transform even more.

During such congress, participating countries share ideas, successes and discuss solutions to challenges affecting cooperatives. n

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