Mudi Savings and Credit Cooperatives (Sacco) Limited has posted a K1.059 billion surplus for the year ending December 2025, an 83 percent increase from the previous year’s K580 million. Speaking during the Sacco’s 35th Annual General Meeting in Blantyre on Saturday, Mudi Sacco Limited board chairperson Ronald Chilumpha attributed the success to the hard work of the staff and commitment of members. He said the Sacco encountered several challenges in the year, including delayed remittances from government ministries, departments and agencies.
“Liquidity remained a challenge in 2025, but in the last quarter we saw some improvement. We know the economic situation being as difficult as it is, members are also under stress and they want more loans,” said Chilumpha. He further said the Sacco will continue to enhance its digital capability and risk management, intensify membership recruitment campaigns and grow the Sacco’s loan portfolio.
“We want to strengthen the strategic partnerships and drive diversity and inclusion. We want women and youth to become members of Mudi Sacco and we will continue to enhance our digital capabilities,” he said. Ministry of Industrialisation, Business, Trade and Tourism Principal Secretary Wiskes Nkombezi said Mudi Sacco’s performance was impressive.
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“If you look at parameters of performance of Sacco be it membership, adequacy, compliance with regulators, development issues or adoption of technology, in all those parameters, Mudi Sacco is performing very well,” he said. Nkombezi, who was the guest of honour, urged Saccos in the country to engage an extra gear in the membership recruitment drive. He said: “In a population of 22 million people, we are only hovering around 260 000 as the overall total number of Malawians that are members of savings and credit cooperatives in the country.
“We want that number to increase. We should be talking about membership in millions. “Sacco members are now able to save and members of various Saccos countrywide have now saved in excess of K77.7 billion,” he said. Thindwa said through loans accessed from Saccos, members pay for the education of their children, build houses, invest in businesses and buy assets such as vehicles.
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