Malawi’s flagship league runners Super League of Malawi (SULOM) has engaged an extra gear in a bid to improve the welfare of the players.
Super League of Malawi Treasurer Tiya Somba Banda said the league runners would hold sensitization meetings in Blantyre, Zomba, Lilongwe, Salima and Mzuzu targeting 15 Super League clubs on the establishment of Mpira SACCO.
“For Mpira SACCO to become fully registered and licensed by MUSCCO and the Reserve Bank of Malawi, there are a number of key steps that have to be taken to ensure that all requirements, both operational and legal, have been met,” Tiya Somba said in a statement.
“One of these requirements is the need for all prospective members to have a full understanding of the business and nature of a SACCO. It is in the light of this requirement that MUSSCO in conjunction with SULOM have organized the following sensitization meetings with football clubs that participate in the TNM Super League.”
He said the formation of the Mpira SACCO sits at the center of the drive part of the strategic objective of commercializing and professionalization of the elite football league in Malawi.
“Mpira SACCO shall seek to reduce the financial inclusive gap around our football players at the same time allowing them access to financial tools that will enable them to save part of their money and access credit facilities,” he said.
All SACCOs in Malawi fall within regulatory and legal frameworks, which require certain basic requirements to be met before registration of the SACCO.
SULOM has been engaging MUSCCO in the past months to fully appreciate the requirements and to position itself accordingly for the undertaking.
“As SULOM, our desire is to improve the status and welfare of our football player. This cannot be attained if access to financial services is still prohibitive and at times very unfavourable to our players. Mpira SACCO will be the perfect last piece in the puzzle.”
One of the requirements for the SACCO to be established is it must secure a minimum of 500 members.
SULOM has said with all the teams expected to be members it will be short of just 50 members to achieve 500.
The shortfall will be met by extending the membership to lower league teams across the country.
The idea to have Mpira SACCO was hatched by Sulom Vice-President Daud Suleman as one way of improving the welfare of playersFollow and Subscribe Nyasa TV :