Wonderful Work!

Another day "At the Office"

Today was mine and Erin's and  second day "at work", and I think we are hitting our stride!  I honestly did not know what to expect going into this, and even though I won't get much pity from my family and friends in new Brunswick Canada currently enduring -35 Celsius temperatures (yes it was probably 25 Celsius this morning but it WAS muggy), I can honestly say that this is work... it just happens to be very rewarding and enjoyable work! 

Fodya SACCO

Erin & I in front of Fodya SACCO

We had some wonderful conversations with Rita and Brian of Fodya (Chichewa for tobacco) SACCO (Credit Union), which is a closed-bond SACCO which serves the Alliance One tobacco refinery in Lilongwe.  We were also fortunate to meet and speak with Fodya's board treasurer Wilson and Oscar Phiri the board president.  Fodya is a very small SACCO with a top-notch board and two great employees.  Both Rita and Brian are working full time at the SACCO while going to college studying accounting and couldn't be more enthusiastic!  Rita has almost 20 years of experience in the SACCO movement and could not imagine working anywhere else.  Brian is finishing his first year in the SACCO and already is visionary enough to not only understand the current  importance of SACCO's but also to realize the importance SACCO's will play in Malawi's economic prosperity.

Though part of a small SACCO, Brian and Rita truly see their work as more than a job, and often refer to their roles and the role of the once struggling SACCO "in the movement".  Mr. Phiri proudly talked with us about Fodya's early struggles including an exodus of some members to being awarded MUSCCO's 2009 "Most Improved SACCO".



Rita and Brian in the office

Rita, Oscar & Brian with the
MUSCCO 2009 "Most Improved SACCO" award



The SACCO Movement

In Malawi, SACCOs are the only realistic alternative the citizens have to save their money, and to borrow money when needed as banks view the average Malawian to be to "high risk" to lend funds too.

So how can an entrepreneurial spirit currently living at or below the poverty line find the funds need to build the pieces needed to become financial independent? How can a young woman or man who has worked very hard through school and has been fortunate to be selected to further their education? How can a hard working labourer manage to pay for a relative's funeral? Where in Canada Credit Unions try to become a better alternative to banks, in many cases in Malawi SACCO's are the only alternative...and an absolutely crucial cog in Malawi's economic machine.

MUSCCO

At the heart of Malawi's "financial co-operative movement" is MUSCCO, the Malawi Union of Savings and Credit Co-operatives. We've been fortunate to meet many of the employees of MUSCCO including Sylvester Fedzola, MUSCCO CEO and member of the World Council of Credit Unions. Through h Sylvester's vision and the capable hands (and minds) of people like Lillian Moyo, Fumbani Nyangulu, Swanzie Mawerenga and Dickson Chidumu (sorry, it's impossible not to mention each of these great people), MUSCCO is helping build a framework and host of services, that many Canadian Credit Unions have not even had until recently in their history. Even at such an early point in the Malawi SACCO movement, MUSCCO is working hard to provide resources like: board training programs, management education, and a computerized banking system. It's with these essential building blocks, that I feel very good about the future of SACCOs in Malawi, and it's now that I am truly beginning to understand the impact that the Canadian Co-operative Association's programs can have to aid in this voyage.

Until next time!

Tionana!