The Ministry of Trade says it will soon validate a new cooperative development policy to enhance the performance of SACCOs in the country.
Sosten Gwengwe, the Minister of Trade and Industry, said this during the 29th Annual General Meeting (AGM) for United Civil Servants SACCO in Lilongwe.
“The Cooperative Societies Act (1998) is long overdue for overhaul and the ministry has submitted the policy document to the Office of the President and Cabinet,” said Gwengwe.
Meanwhile, Chief Executive Officer for United Civil Servants SACCO, Francis Waliwa, said SACCO has achieved 100 percent of its Key Performance Indicators.
