Mudi Sacco commemorates 25th anniversary with profit

Mudi Sacco has this year clocked 25 years and the anniversary celebrations will certainly be spiced with an announcement that members will this year share K14 million from a K17 million dividend following a profit of K23 million declared by the Sacco in 2015.

Meanwhile, the Sacco’s members have ushered in a new board which is now being chaired by Zamdziko Mankhambo from the Malawi Communications Regulatory Authority (Macra) who has replaced Duncan Mlanjira who has retired at the expiry of his constitutional.

Speaking in an interview on the sidelines of an annual general meeting held in Blantyre on Saturday, Mudi Sacco general manager Triza Magreta said despite the just ended year being tough in terms of economic challenges, the Sacco achieved its key targets.

“Led by our board, we implemented strategies which enabled us net more member savings, loan earnings and interests,” said Magreta.

Speaking to members during the AGM, Magreta hailed members, the board and staff for their hard work which, she said, has made the Sacco grow in economic and operational strength in the last 25 years.

She also gave special recognition to a member of staff, Mercy Bisani-Kalepa, who has worked at the Sacco since the first day it started operations in 1991.

“She has worked for the institution without a break since its establishment and this no mean achievement,” she said.

In an interview, Bisani-Kalepa said she started working for the Sacco as a bookkeeper and that she since has risen through the ranks to her present position of member service manager.

“Mudi Sacco started as Malawi Bureau of Standards Sacco with 50 members. It makes feel proud that from such a humble beginning, we now have 4,000 members and three branches, in addition to our Blantyre head office branch,” said Bisani-Kalepa.

During the elections, members also elected Blair Chitimbe as deputy board chairperson while Maureen Masamba was voted in as secretary and Martha Zilambalala retained her position as treasurer. Others elected included Hamid Mponda as vice secretary and Malizani Gamaliyele and Wongani Vinkhumbo as members.