Capital, Lilongwe – 27 March 2026
The Malawi Police SACCO successfully held its 11th Annual General Meeting, bringing together key stakeholders and distinguished guests, including CEO Mr. Ian Mwalungila, Board Chairperson Mr. Lovemore Mwabumba, MUSCCO CEO Mr. Fumbani Nyangulu, Chapter 2 Chairperson Mr. Alex Mtungama, Director of Capital Markets at the Reserve Bank of Malawi Mrs. Khumbo Mtalika, Registrar of Cooperatives Mrs. Jecintra Chitendo, Deputy Inspector General – Operations Mr. Stain B Chaima and Guest of Honour Deputy Inspector General Dr. Noel Mlowoka Kayira. The meeting reflected on the SACCO’s impressive growth in membership, services, and governance, while reinforcing its commitment to future progress. Central to the discussions was the launch of the “Simply Better” theme, which emphasizes continuous improvement and strategic decision-making.
The SACCO was recognized as one of the fastest-growing in the country, with strong emphasis placed on innovation, digital transformation, and capacity building to strengthen operations and attract younger members, particularly Gen Z. Key discussions highlighted the importance of financial and membership growth, savings mobilization, and member education as pillars of long-term sustainability, alongside the need to strengthen acquisition, retention, and member engagement. While liquidity challenges due to delayed remittances were noted, stakeholders reaffirmed their support, with both MUSCCO and the Reserve Bank pledging continued collaboration and guidance.
In his remarks, the Guest of Honour emphasized the importance of cybersecurity awareness in the digital era, diversity in driving inclusive growth, and the need for the SACCO to enhance its services to bridge financial gaps. He also proposed the integration of police salaries through the SACCO to further strengthen its financial base. A major milestone was achieved with the approval of land for the construction of new SACCO offices, signaling a significant step in institutional development. Overall, the AGM reaffirmed Malawi Police SACCO’s commitment to growth, innovation, sustainability, and delivering greater value to its members.
Saving and Gowing Together!