Thyolo Teachers Sacco launches Strategic Plan
The Malawi Union of Savings and Credit Corporative (Muscco) has called on savings and credit corporatives (Saccos) in the country to be focused in order to improve the sector’s input to the economy.
Muscco Projects Officer Dorothy Mambulasa made the call on the sidelines of launch of a strategic plan for Thyolo Teachers Sacco.
According to Mambulasa, Saccos have a significant role to play in development and growth of the country’s economy, hence the need to be focused.
She said creating policy direction would help ease the pressured faced by the corporatives in their operations and instead increase their productivity.
“Corporatives have a critical role to play in economic growth, hence, a need to be vibrant in a bid to maximise the input,” she said.
She commended Thyolo Teachers Sacco for launching the strategic plan, saying the blue print would help in the governance of the institution.
Thyolo Teachers Sacco president, Amos Munkhonya, described the launch of the strategic plan as a milestone for the Sacco which already has a capital base of about K200 million.
“The plan will help us attain more achievements in our operations as we effectively serve our members,” he said.
Key areas of focus in the plan include a target to grow membership by 1, 500 annually, computerize and fully embrace technology by 2018 and obtain at least 90 percent member satisfaction by 2018.