Ernest Kaonga elected to double as Private Schools SACCO President
Days after being elected as Private Schools Association of Malawi (PRISAM) president, Ernest Kaonga, has yet again been elected to head the association’s newly launched Savings and Credit Cooperative (SACCO).
Ernest Kaonga, who owns Maranatha Private Academy, and others were elected on Wednesday at Mponela in Dowa.
In his acceptance speech, Kaonga said they are putting in place strategies that will enable more private schools to join SACCO as one way of boosting their income.
He said that many private school teachers continue to suffer financially because they get loans from loan sharks as well as institutions that charge high interest rates.
“As PRISAM, we will make sure that teachers from private schools join SACCOs. The good thing with Sacco is that their interest rates will be affordable and they can easily repay loans.”
He said the newly introduced SACCO will help in mobilizing their members to be financially included and if more join it, the country will benefit financially.
Kaonga said in the absence of SACCO, many private school teachers have struggled with the existing high interest rates.
“There were instances where a teacher could not receive his or her salary because of big debts. As Prisam we would be happy if more teachers from private schools join SACCOs because their lives will be easily managed,” he said.
“If we are to move forward we should encourage as many teachers as possible to join Sacco because it will change their lives for the better,” said Kaonga.
During the elections, held at Mponela in Dowa district, Sticko Kumwenda was elected as the Vice President.
Tom Bulirani was elected as treasurer, while the secretary is Hamida Banda. Reverend Masopera Muhowe was elected as the member.
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