COMSIP Corporative Union has applauded corporatives for improving the lives of communities across the country through a savings and investment drive.
Annie Nyirenda, Corporative Desk Officer for COMSIP made the remarks after the Union handed over a Certificate to Nkuyu Corporative in Senior Group Kumponda in Lunzu-Blantyre.
The group was first established in 2001 and currently has 21 members with combined servings amounting to K3, 545.000
Nyirenda told MIJ Online that becoming corporative will assist the group to expand on their businesses as well as access opportunities from various projects including the graduation package where each member is expected to receive K300,000 Kwacha seed capital for individual businesses under the graduation pilot.
“It’s a milestone to the corporative because now they can regally run their corporative businesses, they are planning to run a bakery business apart from the individual businesses they are already involved in,” said Nyirenda.
Meanwhile, Eunice Katunga, Community Facilitator for Nkuyu Corporative said members have been able to set up small-scale businesses as well as save money, a development that has improved their lives and that of their communities.
According to Katunga, members of Nkuyu Corporative are already involved in individual businesses such as selling food products and tailoring.
“The seed capital that we expect to receive will assist us to expand our businesses as well as establish new ones to have multiple sources of income. COMSIP already trained us on how best to manage our corporative for it to be a success as well as capacity building on business management and financial literacy,” said Katunga