Malawi govt owes Sacco K120mil in remittances

Officials from United Civil Servants Sacco in Mzimba have expressed concern that the government owes the organisation K120 million, a staggering figure the official say has literally brought to its knees operations of the savings and credit body.


Gondwe: Yet to comment

Mzimba Teachers SACCO

Mzimba Teachers SACCO

President of the organisation Fletcher Mhango said the government owes the Sacco the money in remmitances, money that the government deducts from the civil servants for Sacco but fails to handover to the organisation.

“We are not able to lend any money to our members. This has grossly affected the delivery of our services to our members,” said Mhango.

Mhango said the money is an accumulation of a three month remittances.

He said the organisation is pressuring the government to release the money as soon as possible so that civil servants in Mzimba can continue getting loans for the upliftment of their lives.

Officials from treasury were not available for comment on Monday.

Follow and Subscribe Nyasa TV :

Please share this Article if you like Email This Post Email This Post

More From the World

More From Nyasatimes