Ministry urges ultra-poor households to develop saving culture
Ministry of Finance director of pensions and financial sector policy division Alfred Kutengule has urged ultra-poor households in the country to develop a saving culture to graduate from dependence on social support.
The official made the remarks on Wednesday in Salima when he presided over the launch of Seed Capital Disbursement for Ultra-poor Households under the Tidzidalire project being spearheaded by Care Malawi with technical and financial support from the Financial Access for Rural Markets, Smallholders and Enterprise (Farmse).
“It is my expectation that seed capital grants to the ultra-poor households’ beneficiaries being launched today will jump-start one or more economic activities among the beneficiaries and in the long-run transition them into improved and more resilient livelihoods,” said Kutengule.
In his remarks, Farmse national programme coordinator Dixon Ngwende said the K830 million cheque presented during the event was meant for buying seed for households that are ready among the 3 850 social protection beneficiaries in Salima and Chikwawa districts covered by Care.
One of the beneficiaries, Judith Ephraim from Salima, said through the project she has developed a saving culture and can manage a few business ventures.
Farmse is a seven-year programme under the Ministry of Finance with financial help from the International Fund for Agriculture Development (Ifad) targeting 15 000 beneficiaries and aiming at reducing poverty and improving resilience in rural areas.
