Sucoma Savings and Credit Cooperatives (Sacco) on 20th Match, 2022 declared a dividend of Sucoma Sacco Declares K90 million at its annual general meeting (AGM) at New Arrows Motel in Nchalo, Chikwawa.
The sacco has achieved a surplus of K198.7 million from the previous year’s 141 million.
Speaking in an interview after the AGM, Sucoma Sacco chairperson Masauko Khembo said they achieved satisfactory growth despite the harsh economic environment.
The sacco registered increases in loans, assets, and membership from K1.53 billion to K1.89 billion, K1.97 billion to K2.39 billion and 5,349 to 5,779 respectively
In his remarks, he said the sacco plans to grow its membership by opening new branches outside the southern region in places such as Lilongwe, Mzuzu which he hoped will positively have impact on the balance sheet
“On his part, Chikwawa Prison officer-in-charge Francis Kwapata who was guest of honour urged people to join as they help to uplift lives
