Lilongwe village banks raise K40m

Members of Nkhoma and Chilenje villages savings and loan groups in Lilongwe have done World Vision Malawi proud by raising K40 million in shares.

World Vision regional manager for the Centre, Innocent Pendame, said it is encouraging to see villagers embracing the saving culture.

“As World Vision, we are proud of these people because what we did was just to mobilise and train them, but the results are impressive. If they can raise over K40 million, it means there is potential that they can do more than that,” said Pendame.

He, however, noted that most of the members of the groups were women and encouraged men to join the rural banks.

“If we had more men joining the groups, we would probably be talking of a bigger figure,” he said.

He also observed that most men lack patience as they want things that can produce instant results.

Assistant cooperative liaison officer in the Ministry of Industry and Trade, Loice Mbewe, said the groups should be encouraged because it is one way of ending poverty.

“Where there are no such groups, people go for katapila (usury) and that practice is counterproductive because of its harsh conditions,” she said.

One member, Thima Flao, said since they formed the groups, their lives have been changed for the better.

“We are now able to build decent houses complete with corrugated iron sheets and our children are going to good schools because we can afford the fees,” said Flao.

World Vision has 425 savings groups in Nkhoma and Chilenje Area Development Programme (ADP).