• Fri. Aug 4th, 2023

Pay back loans on time – Chakwera advises Malawians

Jul 29, 2023 #Dr Lazarus Chakwera

President Dr. Lazarus Chakwera has advised Malawians to captivate the culture of paying back their loans every time such money is due for repayment.

Chakwera was speaking in Lilongwe during the commemoration of the International Day of Cooperatives at Civo Stadium – a gathering that brought together Cooperative members, government officials, members of the clergy and the general public.

The Malawi leader said people of this country should double their efforts inorder to grow the cooperative sector.

“I call upon all government
agencies, development partners, non – governmental organizations and all relevant stakeholders involved in
cooperative development to double their efforts towards sustainable cooperative development. Access to finance is an especially vital element that cannot be ignored in any sector. The potential impact of cooperatives can only be optimally realized if the sector has access to finance and other investment opportunities. Access to finance allows cooperatives to move up the value – chains and engaged in value addition,” he said.

Chakwera added that cooperatives are the bedrock of community empowerment and economic progress in the country .

He emphasized the pivotal role played by cooperatives in driving positive change and fostering inclusive growth for the nation.

The event was celebrated under the theme “Cooperatives for a Prosperous and Inclusive Malawi.”

It highlighted the remarkable contributions made by cooperatives in various sectors, such as agriculture, finance and manufacturing, in empowering communities and uplifting livelihoods.

The International Day of Cooperatives is observed globally on the first Saturday of July each year. It was proclaimed by the United Nations General Assembly to raise awareness about cooperatives’ socio-economic impact and their role in achieving sustainable development goals.

This annual celebration aims to recognize and promote the cooperative movement’s significance in advancing economic and social progress, not only in Malawi but also around the world.

Cooperatives, with their democratic and community – driven principles, have been instrumental in transforming societies by fostering self-help, solidarity, and collective decision – making.

They provide a platform for individuals to come together, pool resources and address common challenges, ultimately creating a more equitable and resilient society.

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