SACCO YOUNG PROFFESSIONALS NETWORK MALAWI
MALAWI UNION OF SAVINGS AND CREDIT CO-OPERATIVES (MUSCCO) since its establishment in 1980, has championed various programs with both affiliate SACCOs and various development partners. Over the years, participation by the general public in the SACCO movement has significantly increased as a result of these efforts. Youth involvement in SACCO activities has barely taken off however, owing to the lack of awareness on the benefits of savings and credit amongst this demographic. Overtime, this lack of youth participation in the movement has become a threat to the sustainability of credit unions in the country as well the overall socio-economic development of our future leaders.
To change this narrative, MUSCCO has committed, through its new strategic plan, to inspire young people to come together, collaborate, and demonstrate the difference SACCOs make at the local, national, and global platforms. And most importantly, the impact SACCOs have to livelihoods.
As a step to reach this goal, MUSCCO has established and launched the SACCO YOUNG PROFFESSIONALS NETWORK- MALAWI so as to coordinate, collaborate, and initiate youth activities, exchange programs and sharing of information and opportunities for youth to participate and thrive within the SACCO movement.
Functions of the SACCO Young Professionals Network- Malawi
- To build awareness of financial cooperatives (SACCOs) amongst the youth demographic to ensure the sustainability and future viability of SACCOs.
- To stimulate a culture of volunteering
- To encourage social responsibility
- To provide socio-economic development opportunities for youth
- To promote the spirit of entrepreneurship and cooperation as tool for socio-economic development.
- Encourage a saving culture and self reliance.
- Promote access to financial services for production amongst the youth.