Safe & sound SACCOs
for everyone

Malawi Union of Savings and Credit Cooperatives (MUSCCO) is a member-based organisation of Savings and Credit Cooperatives (SACCOs) operating throughout Malawi. 

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Accumulate wealth
For the future

Money is essential in a modern society to enable people to exchange goods and services that are produced and consumed. Everyone needs to understand the basic ideas about money, what the financial term is and how the financial system works, especially savings and loans.

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Protect your family
from inheriting debts

Under this coverage, should a member die leaving a loan at a SACCO, the loan is paid off by the insurance. This is why it has become a common that at a SACCO “the debt dies with the debtor”.

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Secure your money
and get high returns

Today many people think that it is almost impossible to save money. However SACCOs have over the years proved that people who never thought that they could save money have been able to accumulate savings within a short period. Regular small savings accumulate to large amounts over time.

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Improving financial service delivery

MUSCCO is collaborating with the following organizations: Canadian Cooperatives Association (CCA), The Swedish Cooperative Centre(SCC), Financial Inclusion Malawi (FIMA), HIVOs, National Aids Commission &  World Council of Credit Unions(WOCCU)
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Life Savings

Life Savings The benefit under this cover is that the member’s savings plus a percentage is paid to the beneficiaries of the member in the event of the death.. More


Insurance MUSCCO administers an in house micro insurance program called SACCO Financial Protection Plan (SFPP)

Financial Counselling

MUSCCO seeks to promote the spirit of self reliance and attainment of financial independence and offers financial counseling and education  More

Growing Stronger Together PDF Print E-mail
Tuesday, 13 May 2014 06:04

Growing Stronger Together


During 2013 and 2014, Reverend and Mrs. Dixon have been volunteering in Malawi with Malawi Union of Savings and Credit Cooperatives (MUSCCO) as well as the Malawi Police Chaplaincy. Last year the Chaplains, Reverend Dixon, and MUSCCO worked together to lay the foundation to establish a brand new SACCO for the Malawi Police.  Hundreds of officers have already become members, and the SACCO is now registered.

Thursday, 24 January 2013 09:12

2013: what's in store?


2012 is truly behind us. 2013 is upon us.

What does MUSCCO have in store in 2013.

MUSCCO will continue to focus its attention on the implementation of its 2012-2018 strategic plan.

Aptly titled " The road map to growth and sustainability" 


The Strategic development program is anchored on 4pillars:-

CIC Insurance Group and MUSCCO to establish new cooperative in Malawi PDF Print E-mail
Wednesday, 12 February 2014 12:57

CIC Insurance Group and MUSCCO to establish new cooperative in Malawi

International Cooperative and Mutual Insurance Federation (ICMIF)  members CIC Insurance Group (CIC), Kenya, and the Malawi Union of Savings and Credit Cooperatives (MUSCCO), Malawi, are on the verge of establishing a new cooperative insurance company in Malawi following the visit by Nelson Kuria, Group Chief Executive Officer, CIC, in December, 2013.

During the visit Mr. Kuria met with the MUSCCO Board of Directors to formalize the partnership agreement. The two institutions are now in agreement with the shareholding, capital and operations structure of the partnership. This is in line with CIC’s strategy to help countries across Africa by enabling cooperative insurance services to be made available to more African people through partnerships with cooperative development organizations in these countries.

MUSCCO and CIC are now conducting a market study which will then assist with the development of a strategic plan in Malawi in 2014. Both CIC and the MUSCCO Board of Directors are committed to launching this company in Malawi by July, 2014.

Nelson Kuria and Sylvester Kadzola, Chief Executive Officer, MUSCCO, also met with officials at the Reserve Bank of Malawi, the insurance regulator there. They shared plans for the strategic framework of the partnership between MUSCCO and CIC when setting up the new cooperative insurance company in Malawi. In his own words, the Director of Pensions and Insurance Supervision at the Reserve Bank said, ‘we support this initiative because financial cooperatives do things differently. They have both a social and a business face. They provide financial services to lives that are never serviced by our formal financial institutions in Malawi. We are proud to part of this initiative!’’.

Once established, the new cooperative is expected to target over 120,000 Savings and Credit Cooperatives (SACCO) members (all of which are affiliated to MUSCCO); over 800,000 farmers organized in various producer cooperatives and associations by the Farmers Union of Malawi (FUM) and the National Smallholder Farmers of Malawi (NASFAM); over 600,000 clients of microfinance institutions and will aim to sell general insurance products to the public at large.



Congratulations Mr Nyangulu PDF Print E-mail
Wednesday, 12 February 2014 12:35

Congratulations Mr Nyangulu, we are so proud of you!



fumbaniThe Board Members, Management and Staff of The Malawi Union of Savings and Credit Cooperatives, MUSCCO, wish to congratulate

Mr. Fumbani Stephen Nyangulu for being appointed Trustee and Board Chairman of the Malawi Microfinance Network.


The Malawi Microfinance Network (MAMN) is a trust of Microfinance Institutions (MFIs) that was formed and registered in year2000. Its main objectives are to ensure good governance of member MFIs and to facilitate the exchange of information that will build the capacity of member MFIs. There are currently 22 Micro Finance Institutions, including the Malawi Union of Savings and Credit Cooperatives (MUSCCO) that are MAMN members.


Mr Fumbani Nyangulu is currently the Chief Of Operations for the Malawi Union of Savings and Credit Cooperatives (MUSCCO), a position he assumed  after being Head of Financial services and Business Development Functions for several years.  His areas of expertise include  providing consultancy and training services to Savings and Credit Cooperatives (SACCOs) in the areas of Strategic Financial Management, Accounting, Governance, Audit, Products Development, Credit Management and Information Risk Management. He has been involved with the Micro Finance Network (MAMN) operations since  2008 when served  as an alternate Director and Vice Board Chairman on the MAMN Board representing MUSCCO and all affiliate Savings and Credit Cooperatives (SACCOs). He has also been a member of various committees of the network and has contributed alot towards MAMN operations.  The entire SACCO and MUSCCO family in Malawi is excited with this appointment as it does not only demonstrate the trust that that the Micro Finance Industry has to the leadership in the Cooperative sector through MUSCCO but also the cordial partnership that exists between the two complimentary industries



Malawi Credit Unions Tackle New Regulatory Compliance Challenges Top Malawi officials ask for rural expansion to build savings and achieve financial inclusion PDF Print E-mail
Tuesday, 04 June 2013 09:22

LILONGWE, Malawi — Malawi's credit unions, known as savings and credit cooperatives (SACCOs) have taken on new compliance challenges since the country's Financial Cooperatives Bill in 2011 led to a new regulatory framework in April this year. World Council of Credit Unions and Malawi Union of Savings & Credit Co-operatives (MUSCCO) representatives met with state officials in Lilongwe, Malawi, last week to discuss the challenges and opportunities to expand credit union services to rural areas in an effort to achieve broad-based financial inclusion.

Brian Branch, World Council president and CEO, traveled to Malawi to join World Council Director Sylvester Kadzola, chief executive of Malawi Union of Savings & Credit Co-operatives (MUSCCO), a World Council member organization, in a meeting with Malawi Vice President Khumbo Hastings Kachali and Reserve Bank of 2013-06-03-Malawi-SACCOs-representativesMalawi Governor Charles Chuka.

"New regulatory forums and structures under new 2012 regulatory framework reflect an increase in regulatory compliance for credit union systems everywhere around the world," Branch said. "National regulatory bodies are working to bring up to international standards the supervision of all institutions that take savings."

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