Mzinda Sacco posts MK29m profits in 2022 financial year

….As Mphatso Nkuonera returns Chairship….

LILONGWE-(MaraviPost)-MZINDA SACCO Limited has made MK29 million profits of the total assets in 2022 financial year representing 8% increase from 2021 proceeds.

The sharp increase has been attributed to loans and advances members contributed.

This was disclosed during the Annual General Meeting (AGM) at Bridge View Hotel in the capital Lilongwe on Saturday, June 10, 2023.

During the AGM, Mzinda Sacco ushered news leadership that currently Chairperson Mphatso Nkuonera retained his seat after beating four individuals including Maxwell Kaseghe, Robert Chigoneka, Dalitso Mphasa and
Raphael Kasawala.

Nkuonera who is also Ministry of Education Public Relations Officer (PRO) expressed gratitude for returning the seat as the Sacco performed well despite numerous Challenges.

“I am very grateful to the general membership and fellow Board Directors for trusting me with the huge responsibility to lead them again.

“Secondly, let me vow that the SACCO will continue thriving by amassing more new membership and adding on our asset base,” delighted Nkuonera.

He added, “I am encouraging Sacco members to borrow money and venture into various business, resources are available as we have an injection of MK100, 000 million from FinEs loan facility.

“I would like to kindly request members not to borrow for consumption but for investment. The Sacco is complementing government efforts on empowering the citizenry economically”.

Mzinda Sacco AGM is under theme, “Thriving and growing together in financial inclusion.”

Mzinda Sacco was established in 1996, and this is its 26th AGM.

Lloyd M’bwana

I’m a Lilongwe University of Agriculture and Natural Resource (LUANAR)’s Environmental Science graduate (Malawi) and UK’s ICM Journalism and Media studies scholar. Also University of Malawi (UNIMA) Library Science Scholar. I have been The Malawi Country Manager and duty editor for the Maravi Post since 2019. My duty editor’s job is to ensure that the news is covered properly, that it is delivered on time, and that it is created to the standards set out in the editorial guidelines of the Maravi Post.