Speaking at the opening function, the General Manager for the SACCO, Mr. Malizani Gamaliel encouraged the students to open accounts and develop a saving culture before they graduate and get employment.

The Principle for Chikwawa TTC, Mrs Simango encouraged the Students to take into action and embrace a saving culture for their development. 

The official launching of Tsogolo langa youth savings product has seen 66 students openning instantly with a minimum contribution of K1,000.

The product is targeting all youths under the age of 35, employed and non employed including students. Under this product, Youths are to be depositing a minimum of K1000 monthly and can only access the funds after 6 months. This products attracts no monthly service fees and it has an annual interest gain of 10%.

Cooperatives Business Development and Projects Coordinator for South Anthony Makuluni encouraged people to join Saccos to remain resilient amid challenges facing the economy. During Covid, we saw many job losses and people lost their ability to save but we have strategised on that and are moving forward. In hard economic times like these ones, the way to go is saving whatever little you are getting so that you have a good future,” he said. He commended Sucoma Sacco for opening the Blantyre office, saying the Sacco is taking its services closer to people. Councillor Leonard Chimbanga, who was the guest of honour at the function representing Mayor Wild Ndipo, hailed Succoma Sacco for opening the office, saying people from Blantyre and surrounding districts will be served better.  

Sucoma Savings and Credit Cooperative (Sacco) over the weekend opened an office in Blantyre. Sucoma Sacco Chairperson Masauko Khembo said the Sacco’s membership has grown from 5,500 last year to 6,000, with more members from the Electricity Supply Corporation of Malawi joining.

He said opening of the Blantyre office is a step in the right direction, saying the Sacco remains determined to continue serving its members better. “Every Sacco is a stand-alone organisation. It has its own rules and ways of doing business. Sucoma Sacco offers the most competitive loan facilities and we want to reach out to more people in Blantyre and surrounding areas,” he said. Malawi Union of Savings and Credit Cooperatives Business Development and Projects Coordinator for South Anthony Makuluni encouraged people to join Saccos to remain resilient amid challenges facing the economy. During Covid, we saw many job losses and people lost their ability to save but we have strategised on that and are moving forward. In hard economic times like these ones, the way to go is saving whatever little you are getting so that you have a good future,” he said. He commended Sucoma Sacco for opening the Blantyre office, saying the Sacco is taking its services closer to people. Councillor Leonard Chimbanga, who was the guest of honour at the function representing Mayor Wild Ndipo, hailed Sucoma Sacco for opening the office, saying people from Blantyre and surrounding districts will be served better.

The sacco has achieved a surplus of K198.7 million from the previous year’s 141 million.

Speaking in an interview after the AGM, Sucoma Sacco chairperson Masauko Khembo said they achieved satisfactory growth despite the harsh economic environment.

The sacco registered increases in loans, assets, and membership from K1.53 billion to K1.89 billion, K1.97 billion to K2.39 billion and 5,349 to 5,779 respectively

In his remarks, he said the sacco plans to grow its membership by opening new branches outside the southern region in places such as Lilongwe, Mzuzu which he hoped will positively have impact on the balance sheet

 “On his part, Chikwawa Prison officer-in-charge Francis Kwapata who was guest of honour urged people to join as they help to uplift lives

Speaking in an interview after the AGM, Sucoma sacco chairperson Masauko Khembo said they achieved satisfactory growth despite the harsh economic environment.

He said assets for the sacco grew by 6.2 percent to K2 billion while loan portfolio increased to K1.5 billion representing a 11.2 percent jump.

“We plan to mobilise not less than 1 000 new members, including women because we realise that having a bigger membership means more revenue generation; hence, it is difficult to survive in terms of economic hardships,” He said.

In his remarks, Malawi Union of Savings and Credit Cooperatives (Muscco) business development manager Anthony Makuluni hailed the Sacco for being one the fastest growing in Chapter One (Southern Region).

“The performance of this Sacco is generally impressive compared to its previous performance. This is encouraging and an indication that people are embracing Saccos,” he said.

Services Offered 

By using SACCO Mobile you can access a range of banking services as follows:

• Access your account balance and mini-statement from anywhere any time
• Make Funds Transfer to any account within the SACCO
• Deposit money to your SACCO account from your mobile Wallet(TNM Mpamba)
• Withdraw money from your SACCO account through Mpamba Money Agent

Benefits

SACCO MOBILE is Simple and Secure means of banking. It gives you freedom of doing transactions yourself and it’s very convenient with services available ANYTIME and ANYWHERE.

Security

The system has 4 levels of comprehensive security features:

• All transactions require a valid PIN
• Only registered phone numbers can be used
• Only registered accounts can be accessed
• Set limit on Funds Transfers

Getting Registered and Requirements for Access 

Visit any of SUCOMA SACCO offices and complete the SACCO application form. Alternatively you can download the application form here on our site, complete and then drop it at your nearest SUCOMA SACCO Branch.

You also need to have the following:                       

• Be a member of SUCOMA SACCO LIMITED
• TNM Mobile Phone number

Contact us at:

The sacco has achieved a surplus of K209 million from the previous year’s K194 million.

Speaking in an interview after the AGM, Sucoma sacco chairperson Masauko Khembo said they achieved satisfactory growth despite the harsh economic environment.

he said assets for the sacco grew by 6 percent to K1.7 billion while loan portfolio increased to K1.2 billion representing a 8 percent jump.

“We plan to mobilise not less than 1 000 new members, including women because we realise that having a bigger membership means more revenue generation; hence, it is difficult to survive in terms of economic hardships,” she said.

In his remarks, Malawi Union of Savings and Credit Cooperatives (Muscco) business development manager Ezeckiel Thindwa hailed the Sacco for being one the fastest growing in Chapter One (Southern Region).

“The performance of this Sacco is generally impressive compared to its previous performance. This is encouraging and an indication that people are embracing Saccos,” he said.