As part of its drive to commercialise the flagship football league, the Super League of Malawi (Sulom) is facilitating the formation of Mpira Sacco for players.
According to a press statement signed by treasurer Tiya Somba-Banda, who also acts as general secretary, the move seeks to reduce the financial inclusive gap around football players, at the same time allowing them, access financial tools that will enable them to save part of their money and access credit facilities.
“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,” reads part of the press statement.
All Saccos in Malawi fall within regulatory and legal frameworks, which require certain basic requirements to be met before registration and according to the Sulom treasurer, Sulom has been engaging Malawi Union of Savings and Credit Cooperatives (Muscco) in the recent past “to fully appreciate the requirements and to position itself accordingly for the undertaking”.
According to Sulom, they are aware that 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.
“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 Muscco in conjunction with Sulom have organised sensitisation meetings with football clubs that participate in the league.
“The sensitisation meetings are also open to members of the general public apart from football players that might be interested.”
Football Players Association of Malawi (Fpam) chairperson Ojukwu Malunga hailed Sulom’s move, describing it as noble.
“It will play a big role in helping players to save in readiness for a rainy day. In case of emergencies, players can also borrow money and at the end of the year, profits are shared among members. So, it is the ideal crusade for players,” said Malunga.
The first meeting will be held at Malawi National Council of Sports (MNCS) in the morning of September 7, another meeting will be held in the afternoon of the same day at Cobbe Barracks in Zomba.
In Lilongwe, the meeting will take place at Civo Stadium in Lilongwe in the afternoon of September 8 while in Mzuzu it will be held at Mzuzu University on September 9 in the morning. In Salima, the meeting will be held at Malawi Armed Forces College (Mafco) in the afternoon.n