As the country is set to host the Southern Regional Forum for African Confederation of Cooperative Savings and Credit Associations ( ACCOSCA), Government has commended United Civil Servants SACCO (UCSSACCO) for its exceptional provision of financial services that have seen the Cooperative being listed as the fastest growing SACCO in Africa. Minister of trade and Industry Sosten Gwengwe said this when he visited UCSSACCO’s head office in Mzuzu. Gwengwe said United Civil Servants SACCO’s outstanding commitment in providing financial capital in form of loans and savings to it’s members is key in providing financial security to Malawians and also fostering local and international trade.
“As government, we are impressed with United Civil Servants SACCO for its extraordinary performance in uplifting social economic lives of Malawians. It’s continental recognition of being the fastest growing SACCO in Africa demonstrates that Malawi has all the potential to grow it’s economy and together we can achieve the Malawi Vision 2063.” Said Gwengwe.
Gwengwe:Bravo United Civil Servants SACCO
For his part, Chief Executive Officer for United Civil Servants SACCO Francis Waliwa said the Cooperative is determined to change Malawi’s economic narrative.
“We are geared to provide Malawians with access to finances for their economic transformation. In 2024,we got a K12 billion surplus and disbursed 2 billion kwacha as dividends to our members. Our assets are now at K48 billion from K21 billion in 2023. Currently we have 82,000 members from 63000 in 2024. Our target is to have 130,000 members come 2026.” Said Waliwa.
Waliwa: It is everyone’s responsibility to develop Malawi.
Before touring UCSSACCO offices, the minister joined United Civil Servants SACCO in its green initiative by planting a tree on a ten hectare land in Viphya Plantations where UCSSACCO launched the initiative in December 2024.
Gwengwe: : Speaking after planting a tree
Later in the evening, UCSSACCO dinned with the minister where among other things it presented a gift to the minister, and also appreciated individuals from various sectors including the media for raising awareness about the SACCO model and top saving members for understanding the concept.
Chief Executive Officer for Malawi Union of Savings and Credit Cooperatives (MUSCCO) Fumbani Nyangulu called on people in the country to join belong to Saccos saying the target is to have 1 million Malawians joining Sacco’s by 2030.
“There is need for people in the country to embrace Saccos and become financially independent.” Said Nyangulu.
Nyangulu: Come and join Saccos
Various SACCOs from Chapter 3 which comprises SACCOs in the Northern region, attended the event.
2025 is the international year of Cooperatives and Malawi is expected to host the Southern Regional Forum from 10th to 12th in Blantyre.
