Friday, August 19, 2022
  • About Us
  • ImagiNATION
  • Rate Card
  • Contact Us
The Nation Online
Advertisement
  • Home
  • News
  • Politics
  • Business
  • Entertainment
  • Life & Style
    • Every Woman
      • Soul
      • Family
    • Religion
    • Feature
  • Society
  • Columns
  • Sports
  • Chichewa
  • Enation
No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Entertainment
  • Life & Style
    • Every Woman
      • Soul
      • Family
    • Religion
    • Feature
  • Society
  • Columns
  • Sports
  • Chichewa
  • Enation
No Result
View All Result
No Result
View All Result
Home News National News

Comsip sets aside K741m for community empowerment

by Precious Kumbani
23/07/2018
in National News
2 min read
0
Share on FacebookShare on TwitterShare on WhatsAppShare on LinkedinLinkedinShare via Email

The Community Savings and Investment Promotion (Comsip) Cooperative Union Limited says it plans to disburse up to K741 million to its clusters across the country from June to December this year to economically empower communities.

The grants are meant for capacity building through training in financial literacy, business management and group organisation, value chain and nutrition.

Chazama (R) gives out a cheque to one of the beneficiaries on behalf of Comsip

Speaking in Blantyre on Thursday when the organisation disbursed K3.1 million to 15 Comsip clusters, chief executive officer Tenneson Gondwe said the union has now reached out to 168 000 households nationwide in promoting a savings and entrepreneurship culture.

He urged the youth to join Comsip and establish small-scale businesses rather than wait for white collar jobs.

Blantyre North East  legislator Cecilia Chazama, who is also Minister of Home Affairs and Internal Security, said she was excited that his constituency was one of the beneficiaries of the Comsip grants.

She said through the training, vendors and other businesspersons will gain special skills, thereby growing their businesses and improving their livelihood.

Said Chazama: “A number of people could start up businesses, but you find that within a short time the businesses collapse, mainly due to lack of capacity by the owners.

“The coming in of Comsip will empower the vendors, thereby uplifting their lives, as well as motivating others to start embracing the saving and entrepreneurship culture.”

Chairperson for Lunzu Market Clemence Maovololo, who sells fish, said Comsip has helped his business thrive through saving and lending  money, thereby increasing business capital.

Comsip is a skills and development component of the Malawi Social Action Fund (Masaf 4) project funded through the Local Development Fund (LDF) by the World Bank.

Through the three savings vehicles of mandatory, voluntary and share purchase, Comsip groups have since 2014 cumulatively mobilised K6 billion as of March 2018.

Previous Post

Rights NGO for simplified manifestos for inmates

Next Post

Stray lion kills three cattle in Chitipa

Related Posts

National News

World Bank starts mission to Malawi for Skills project

August 19, 2022
National News

3 prisoners ‘forgotten’ on death row

August 19, 2022
Challenged the sale: Chakaka-Nyirenda
National News

Court nods to transfer of bus depots

August 19, 2022
Next Post
A stray lion has forced people to shun campaigns and stay indoors

Stray lion kills three cattle in Chitipa

Opinions and Columns

My Turn

Diagnostic tech cost on patients

August 19, 2022
Business Unpacked

Why public debt should worry every patriotic Malawian

August 18, 2022
Rise and Shine

How to triumph in interviews

August 18, 2022
My Turn

Making briquettes at Malasha

August 15, 2022

Malawi-Music.com Top10

Trending Stories

  • Court snubs tenants on govt houses

    0 shares
    Share 0 Tweet 0
  • ‘Blantyre derby could have fetched more’

    0 shares
    Share 0 Tweet 0
  • Why graft cases stall

    0 shares
    Share 0 Tweet 0
  • World Bank protests K14bn ICT contract

    0 shares
    Share 0 Tweet 0
  • 3 prisoners ‘forgotten’ on death row

    0 shares
    Share 0 Tweet 0

  • Values
  • Our Philosophy
  • Editorial policy
  • Advertising Policy
  • Code of Conduct
  • Plagiarism disclaimer
  • Disclaimer
  • Privacy Policy
  • Terms of use

© 2022 Nation Publications Limited. All Rights Reserved.

No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Entertainment
  • Life & Style
    • Every Woman
      • Soul
      • Family
    • Religion
    • Feature
  • Society
  • Columns
  • Sports
  • Chichewa
  • Enation

© 2020 Nation Publications Limited. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.