Private Schools Association of Malawi eyeing SACCO establishment to achieve financial independence

The Private Schools Association of Malawi (PRISAM) has revealed plans to establish a Savings and Credit Cooperative (SACCO) to help private schools achieve financial independence.

Speaking soon after the launching of the SACCO in Lilongwe, Amon Ntafya, the President of PRISAM, said the private schools are encountering financial challenges because they depend on students for their income, leaving them struggling to operate during crises such as the cyclone Freddy devastation or the recent cholera outbreak.

“As you can see, we rely financially on our students. The cyclone and cholera outbreak have demonstrated that we will face financial hurdles going forward. This is why we want to introduce a private school SACCO to address some of these challenges,” he said.

Private Schools Association of Malawi members

In addition, Ntafya urged private schools to adhere to the rules established by the Ministry of Education during the upcoming primary school leaving certificate exams.

Meanwhile, Chimwemwe Stiko Kumwenda, the newly elected Chairperson for PRISAM’s Lilongwe Chapter, revealed that the association would focus on promoting high-quality education in private schools according to the Ministry of Education’s guidelines.

Kumwenda also stated that the chapter aims to expand the association in the central region by enrolling more new members.

The PRISAM Mzuzu chapter is expected to launch soon.

Sosten Mpinganjira

Sosten Mpinganjira is a news reporter with a track record of delivering timely and accurate news stories. With vast experience working with renowned news electronic, press, and online outlets, he has honed his reporting skills and has a deep understanding of the media landscape. He has a knack for delivering breaking news with accuracy and insight. He is dedicated to keeping his readers informed about current events and trends that shape our world.

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