The Ministry of Trade and Industry has commended the pivotal role cooperatives play in enhancing the country’s economic resilience through savings, value addition, job creation, and income generation.
Chief Cooperative Auditor, Smith Laurent Kamanga, highlighted this at the Community Savings and Investment Promotion (COMSIP) Cooperative Union’s 9th Annual General Meeting held in Lilongwe, which brought together cooperative members from across the country.
Kamanga noted that COMSIP has recruited over 200 cooperatives this year alone, actively engaged in producing value-added products such as cooking oil, export-quality honey, rice, and maize flour, among others.
He further said that the country’s cooperative sector is experiencing steady growth, with many cooperatives focusing on value addition. He disclosed that COMSIP has reached approximately 1,287 cooperatives in total this year and generated patronage refunds of K68 million, which will be distributed among its members.
During the AGM, a new board of directors was elected, with Givemore Chipanga appointed as the new Chairperson for a three-year term. This year’s AGM was held under the theme: “Living a Cooperative Business Model – Growing Our Union.”
By Yamikani Makanga
