The Private Schools Association of Malawi (PRISAM) has launched a Savings and Credit Cooperative (SACCO) to provide financial support and empowerment to private schools and teachers in the country.
The PRISAM SACCO, which was established this year, aims to offer access to affordable financing, loans, and savings schemes for its members, as well as educational resources and training.
The SACCO is open to all private schools in Malawi, regardless of their affiliation to PRISAM or any other association, according to a letter issued by Ernest Kaonga, the President of PRISAM and the PRISAMS SACCO.
“Our goal is to promote and improve private education services provision in Malawi and to do that we need to ensure that all private schools and their teachers are thriving, not just those that belong to our association,” Kaonga said in the letter.
He added that the SACCO is also welcoming other organisations and individuals who are interested in joining, such as government and private sector employees, and non-governmental organisations (NGOs).
“To all non-PRISAM members, as the name implies, this is Private Schools SACCO which belongs to all interested private schools regardless of any association affiliation. The way forward is very simple, let us all come together and join hands in building this, our own Private Schools SACCO to alleviate the numerous financial and educational related resources challenges that we face in our daily management and operation of our private schools,” he said.
Kaonga expressed optimism that the SACCO will attract more members and grow in strength and impact, as it seeks to enhance the quality and sustainability of private education in Malawi.
