The Malawi Union of Savings and Credit Cooperatives (Muscco) has said lack of readily available markets for farm produce from cooperatives in rural areas is hampering chances for their growth.
Muscco Chairperson Sanderson Nyambwani made the remarks in Mangochi on the sidelines of this year’s Muscco annual general meeting.
Nyambwani said most people in rural areas are not willing to join or form cooperatives in the agriculture sector because the existing cooperatives are struggling to find viable markets for their crop produce.
“As a remedy, Muscco, through its regional chapters, is currently engaging farmers’ cooperatives for them to cultivate crops which have readily available markets,” he said.
But Nyambwani said, this year alone, over 15,000 people have joined Saccos across the country.
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He then encouraged cooperatives to work together in embracing technology to provide an opportunity to young people to join Saccos online.
Principal Secretary responsible for Cooperatives in the Ministry of Trade and Industry Francis Zhuwayo encouraged Saccos to adopt technologically-driven solutions in enhancing penetration.
Zhuwayo observed that there are a lot of people who are not able to physically visit Saccos offices, which is somehow limiting their growth.
He then challenged Muscco leaders to lead in formulation of policies which help to make savings and credit services affordable to the ordinary Malawian.
