Livingstonia Synod launches financial cooperative

Church of Central African Presbytery (CCAP) Synod of Livingstonia has launched a financial cooperative which aims to boost economic status of its members.

Mkandawire: We want to teach our members how to save money

In an interview with Executive Director for the Synod’s Church and Society Programme, Moses Mkandawire on Sunday, said the financial cooperative would help the church’s members to have easy access to affordable loans.

“We want our members to have easy access to loans compared to other institutions where the rate is high and we want them to be financially stable in their lives,” he pointed out.

Mkandawire explained the Synod has partnered with Malawi Union of Savings and Cooperatives and the Reserve Bank of Malawi to drill them on how to operate the cooperative.

“We want to teach our members how to save the little they get and also to guide them how they can invest their money to sustain themselves financially,” the Executive Director said.

Mkandawire urged members to join the cooperative saying it is well organised and assured them that their money would be safe.

“Our system is functional and the members need to trust us as we are honest; and as a church, we are organized which means that if they join, their money will be used for its intended purpose,” he added

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