Ernest Kaonga new Prisam Sacco President

Few days after being elected as The Private Schools Association of Malawi (PRISAM) President, Ernest Kaonga has been trusted with another big post as the new President of Savings and Credit Cooperatives (Sacco) for their members.

The elections took place on Wednesday in Mponela,Dowa District.

In his acceptance speech,Kaonga says they are putting in place strategies that will enable more Private Schools to join Sacco as one way of boosting their income.

He said that many private school teachers continue to suffer financially because they get loans from loan sharks as well as institutions that charge high interest rates.

“As PRISAM, we will make sure that teachers from private schools join Saccos. The good thing with Sacco is that their interest rates will be affordable and they can easily repay loans.”

He said the newly introduced Sacco will help in mobilising their members to be financially included and if more join it, the country will benefit financially.

Kaonga said in the absence of Sacco many private school teachers have struggled with the existing high interest rates.

“There were instances where a teacher could not receive his or her salary because of big debts. As Prisam we would be happy if more teachers from private schools join Saccos because their lives will be easily managed,”he said.

“If we are to move forward we should encourage as many teachers as possible to join Sacco because it will change thier lives for the better,” said Kaonga.

During the elections, Dr Ernest Kaonga, who is also the Managing Director of Maranatha Academy was elected as the President, while Sticko Kumwenda was elected as the Vice President.

Tom Bulirani was elected as treasure, while the Secretary is Hamida Banda.Rev. Masopera Muhowe was elected as the member.

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