By Chisomo Phiri
Minister of Homeland Security Dr. Kenneth Zikhale Ng’oma has hailed the Malawi Police SACCO( MPS) for hugely contributing to the Malawi’s economic growth.
Ng’oma was speaking on Saturday during the Malawi Police SACCO’s 9th Annual General Meeting held at the National police Headquarters in Lilongwe.
The Minister advised Malawi Police SACCO to always re-invest its returns in order to get more profits.
On his part, Malawi Police SACCO Board Chairperson Noel Kayira
expressed happiness saying,the Malawi police SACCO had over K5.5 billion of assets by December,2023.
He added that through SACCO, officers are able to access loans, farm inputs and financies to support education among others.
Malawi Police SACCO is one of the two Malawian Saccos that are recognized in the Southern African region as the two fastest growing SACCOs in the region.
In the 2023 financial year, Malawi Police SACCO has registered a 19 percent profit growth, netting K211.6 million.
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