Sacco movement urged to priotise growth
Minister of Industry Roy Kachale says government plans to sign a memorandum of understanding (MoU) with the Government of Kenya to enable Malawi learn both technical and benchmarking skills to grow the cooperative sector.
The minister said this on Friday in Mangochi when he presided over the 2020 Sacco Lakeshore Conference and Annual General Meeting (AGM) under the theme Inspiring Hope for our Members and the Nation.
Kachale further asked the cooperative movement to build properly defined structures to cater for primary, secondary and tertiary cooperatives.
In his remarks, outgoing Malawi Union of Savings and Credit Cooperatives (Muscco) president Francis Mlanga said despite having a difficult year due to the Covid-19 pandemic, Sacco members embraced a saving culture for the cooperative movement to grow.
“What we want is for cooperatives to work together despite having members with different backgrounds,” he said.
Mlanga also said more needs to be done to enable more people to know and join savings and credit cooperatives (Saccos) to transform their lives.
Newly elected Muscco president Stanley Synod Mpaya from Mudi Sacco said he will continue from where his predecessor has left to ensure that the Sacco movement grows.
