Malawi Credit Union Trains Journalists on Financial Literacy
UCSSACCO also engages in corporate social responsibility, particularly in the education sector.
BLANTYRE, Malawi— United Civil Servants SACCO (UCSSACCO), a Malawian savings and credit cooperative, conducted a financial literacy training for journalists on Wednesday, writes Thokozani Beaton.
The institution, which has grown from 5,000 to 70,000 members in six years, aims to help public and private sector employees prepare for retirement through savings and investments.
Francis Waliwa, CEO of UCSSACCO, emphasized the importance of developing a savings culture.
"We gathered journalists from 13 media organizations to enlighten them on financial management principles and impart them with financial skills that will transform their lives," Waliwa said.
Alex Banda, a journalist from Zodiak Broadcasting Station, praised the training.
"I have found the training quite life transforming because I have gotten practical life financial management skills," he said.
Established in 1992, UCSSACCO targets 130,000 members by 2026.
The institution has grown its assets from 600 million kwacha to 34 billion kwacha in six years.
UCSSACCO also engages in corporate social responsibility, particularly in the education sector.
The cooperative employs over 200 people and has structures throughout Malawi.