Mrs Ida Chidumu Chimwala is one of the prominent business ladies at Nchalo Trading Centre in Chikhwawa district.
SACCOs have been regarded as one of the main sector for empowering the economically weak members of the society. It promotes economic and social development because they are not purely profit motive organizations but are commercial organizations that follow a broader set of values. It also creates jobs by directly providing self-employment and service to all members and non- members.
Mrs Chimwala joined SUCOMA SACCO in 2014 and after saving with this SUCOMA SACCO for some months she decided to borrow money to start business of buying and selling clothes. Firstly what she did was to buy two shops for her own.
She got her first loan in 2015, and she is in cross boarder business whereby she goes to Zimbabwe, South Africa and Tanzania where she buys clothes ready to supply to her customers at Nchalo.
Mrs Chimwala proudly pausing at her house.
As months and years went by, she constructed a self-contained3bedroomed descent house.
The journey never stopped there, she bought herself a beautiful Toyota Noah car in 2017, cumulatively she has borrowed MK10,000,000.00.
With car keys in her hand; Mrs Chimwala gets out of her vehicle.
This is what Mrs Chimwalasaid ‘ SACCO has completely changed my life and am encouraging all women and men to join SACCO and start saving now!’ It`s never too late………
In a country where the savings and credit cooperatives are filling the financial service gap and providing an alternative to banks and strengthening producer-based cooperatives, Mr. Slyvester Kadzola is at the forefront of promoting and representing the cooperative industry on a global platform. As the CEO of MUSCCO, Mr. Kadzola, has been to almost every continent to attend workshops, seminars, conferences representing the cooperative movement in Malawi. Sitting on several international Board of Directors (World Council of Credit Unions and ACCOSCA), Mr. Kadzola explains how he represents the growing cooperative movement in Malawi and Africa on an international stage.