COMSIP COOPERATIVES SAVE K150 MN

Written by  Edith Kayira
Over 1500 cooperatives under COMSIP Cooperative Union Limited have managed to save K150 million in a year. 
22
October
COMSIP Project Coordinator for the centre, Justin Mbingwa disclosed this during the training of  Case Workers and Community Development Officers in Mponela, Dowa on how they can help build financial saving capacity for COMSIP cooperatives.
 
To improve resilience among the poor and vulnerable people, COMSIP has been implementing a project known as Social Support for Resilient Livelihoods since 2020. Through the project, people have been trained on the importance of saving money to cushion them in times of disaster.  
 
COMSIP has been working with beneficiaries of the Social Cash Transfer and the Public Works Programmes to build their financial saving capacity.  The organisation, therefore, is training Community Development Assistants and Case Workers in Mponela drawn from the central region.  
 
COMSIP project coordinator for the central region Justin Mbingwa said since the project was launched they have managed to empower beneficiaries with the knowledge to enhance their livelihoods. 
 
“The idea is to provide support to beneficiaries to graduate and engage in sustainable livelihoods,” said Mbingwani.  He however said mindset change is what is lacking in many people.
 
On her part, one of the trainers Annie Dongolosi said they want to equip the participants with knowledge and skills so that they should be able to train communities in their areas.
 
“People should be able to make the right decisions on issues pertaining to business,” said Dongolosi.
 
One of the participants Joe Mwenda said he now knows how he can help to improve resilience among the poor and vulnerable communities.
 
Social Support for Resilient Livelihood Project is being implemented in 14 districts among them Kasungu, Balaka and Phalombe and it is targeting 70,000 beneficiaries. This has seen COMSIP groups saving money amounting to about K150 million in one year. 
 
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